Regions Financial price target raised to $30 from $28 at Wedbush

Wedbush raised the firm’s price target on Regions Financial (RF) to $30 from $28 and keeps an Outperform rating on the shares. The firm notes Regions reported a decent quarter and provided a mostly in-line 2024 guidance update with some puts and takes. Deposit growth was lower than expected, driven by a decline in noninterest bearing deposits, although negative deposit mix shift has slowed. Loan growth was also below Wedbush’s forecast, driven by lower C&I balances.