Rochester, NY 8/22/2009 12:24:53 AM
Regions Financial Corp., RF - Market Updates for Regions Financial
Regions Financial Corp.
Regions Financial Corp. was downgraded last Wednesday by an analyst because a recent surge in its share price brought it in line with expectations, and the regional bank could still face steep losses from commercial real estate exposure.
Deutsche Bank analyst Matt O'Connor downgraded Regions to "Hold" from "Buy."
In a research note, O'Connor said Regions shares have surged 44 percent since he upgraded shares in May, significantly outperforming the broader banking sector. That rise brought Regions share price in line with O'Connor's trough tangible book estimate of $5.50 and just above his price target of $5.
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