Deutsche Bank Downgrades Regions Financial (RF) to Hold

Deutsche Bank downgraded Regions Financial (NYSE: RF) from Buy to Hold with a price target of $11. Analyst Matt O'Connor prefers Citizens Financial Group (NYSE: CFG).

"RF shares have rallied 16% since 8/25 lows (vs. 10% for the S&P Comm Bank Index) given alleviation of energy concerns and optimism surrounding rates. From here, we see more upside in CFG (which is also well levered to rising rates) given it’s earlier in its turnaround in our view, and trades at a 10% discount to RF on tangible book (of 1.06x tangible book vs. 1.18x at RF), has less energy related credit risk and is less exposed to continued pressures in NSF/overdraft," said O'Connor.

For an analyst ratings summary and ratings history on Regions Financial click here. For more ratings news on Regions Financial click here.

Shares of Regions Financial closed at $10.13 yesterday.

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