First Niagara Financial (FNFG) is downgraded to Hold from Buy at Sterne Agee citing the negative...

|About: First Niagara Financial ... (FNFG)|By:, SA News Editor

First Niagara Financial (FNFG) is downgraded to Hold from Buy at Sterne Agee citing the negative earnings impact from higher rates. Regional banks (KRE) - including First Niagara - mostly rallied or held their own through the June selloff as the thought was a steeper yield curve means both a stronger economy and higher spread income. Sterne Agee apparently isn't so sure.