First Niagara Shares Downgraded To Sell At Goldman

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In a report published Wednesday, analysts at Goldman Sachs downgraded

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First Niagara Financial Group, Inc.

(NASDAQ: FNFG) from Neutral to Sell. The price target was raised to $8.50. The company's growth has been slowing and it has been witnessing NIM pressure."While FNFG has worked to improve revenue / returns, we see slowing loan growth, pressures on fees (service charges), a potentially flatter-than-expected yield curve, and low capital levels as headwinds – all of which are not fully reflected in consensus (2016)," the analysts explained.In addition, the company's shares have risen 16 percent since the lows in January. The analysts expect the stock to see some downside potential due to the increasing headwinds for the company.The company posted weak Q1 results, with weak revenue trends, a 3bps decline in NIMs and lackluster loan growth. However, on a more positive note, expenses remained in check and line utilization improved. The company is expected to be able to deliver EPS growth in-line with the consensus expectations for 2015. The analysts also believe that First Niagara is unlikely to miss the NII consensus projections for 2016.