RBC Capital raised the firm’s price target on Regions Financial to $23 from $21 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company’s core fundamentals remain solid, and in Q2 its net interest income inflected, the analyst tells investors in a research note. Regions actively manages its interest rate risk with a hedging program that is designed to create a mostly neutral position with a well-protected net interest margin in the 3.5% range, the firm added.
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- Regions Financial reports Q2 EPS 52c, consensus 48c