As previously reported, Baird analyst David George upgraded Regions Financial to Neutral from Underperform. The analyst cited the recent pullback, which he thinks has made the valuation more reasonable. He believes the capital return is set to meaningfully increase and the company should remain the leader in total payout. George has a $17 price target on Regions Financial shares.

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"We continue to focus on the successful execution of our strategic plan, and that is reflected in our core performance," said John Turner, Chairman and CEO of Regions Financial Corp. Turner added, "Our results reflect the strength and diversity of our balance sheet, robust liquidity position, and proactive interest rate risk management practices. Our hedging strategies position us for success in a vast array of economic conditions and support our commitment to generating consistent, sustainable long-term performance as we once again generated top-quartile returns and a peer-leading net interest margin."