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KeyCorp, Regions cut by Nomura on credit, loan growth uncertainty

Dec. 10, 2018 8:53 AM ETRegions Financial Corporation (RF) StockFITB, RF, KEY, HBANBy: Liz Kiesche, SA News Editor
  • Nomura Instinet analyst Bill Carcache downgrades Regions Financial (NYSE:RF) and KeyCorp (NYSE:KEY) as he sees recent growth in commercial and industrial lending as "low quality," which is likely to increase losses.
  • Regions -0.5%, KeyCorp -1.7% in premarket trading.
  • Cuts both banks to reduce from neutral.
  • Carcache notes bank loan portfolios would be shrinking if C&I weren't increasing.
  • Banks are taking share in C&I lending as underwriting standards ease and demand weakens.
  • Also sees Fifth Third Bancorp (NASDAQ:FITB) and Huntington Bancshares (NASDAQ:HBAN) facing challenges from slowing C&I loan growth and higher net charge-offs.
  • HBAN -1.3% in premarket trading.
  • Source: Bloomberg First Word.
  • Previously: Regions Financial +1.5% after JPMorgan upgrades on loan growth, NIM (Nov. 26)

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