Regions Financial downgraded to hold from buy at Odeon Capital

Odeon Capital analyst Richard Bove on Monday downgraded Regions Financial Cop. RF to hold from buy on his outlook for the bank’s prospects headed into 2024. While the bank has been led by “good management” for a decade, the growth in the business “has been well-thought out” but “it appears that management’s reliance on margins above sales is now creating a problem,” Bove said. Regions Financial should no longer align its pricing to the markets, Bove said. The bank also faces weakness in some formerly stable markets such as residential and commercial real estate, he said. “Moreover, selected company markets tend to suffer…