Raymond James reshuffles some regional bank ratings

• Alongside an earlier-reported downgrade of Regions Financial (to Outperform from Strong Buy), Raymond James also downgrades Zions Bancorp (ZION -0.6%) to Market Perform from Outperform.
• As with Regions, the Zions call has been a good one, with the stock higher by 16% this year, far outpacing the regional bank index.
• PNC Financial (PNC -0.1%) is upgraded to Market Perform from Underperform - another good call as PNC's 4% decline this year has lagged peers.
• Turning to some smaller players, United Community Banks (UCBI +1.5%) is boosted to Strong Buy from Outperform. Park Sterling Bank (PSTB -0.6%) is cut to Market Perform from Outperform following its nice run higher. Bancorp South (BXS -0.9%) is cut to Underperform thanks to earnings uncertainty around the closing of two pending acquisitions.