Regions Financial price target lowered to $24 from $26 at Truist

Truist lowered the firm’s price target on Regions Financial (RF) to $24 from $26 and keeps a Hold rating on the shares as part of a broader research note Credit Card and Bank names. The firm is updating its models by taking into account recent conference updates, monthly credit data, and changes in cost of equity across the market, the analyst tells investors in a research note. Regions’ reduced price target reflects pressure on net interest income and securities repricing, muted loan growth, partially offset by better than expected deposit growth and better charge-offs, Truist adds.