Regions Financial rises post earnings beat

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Shares of Regions Financial advanced about 3 percent Friday after the company reported better-than-expected quarterly results.

The bank Friday posted earnings per share of 20 cents, with analysts polled by Reuters expecting the firm to report EPS of 19 cents. Revenue came in at $1.4 billion, also above estimates.

"These results illustrate that we are successfully executing our strategic plan, which includes reducing expenses so we can invest in new revenue initiatives," Grayson Hall, the company's chairman and CEO, said in a statement.

Regions' stock has gained more than 3 percent in the last three months, but has fallen 11.5 percent in 2016.

Regions Financial this year