Downgrade Alert for Regions Financial (RF)
Regions Financial (NYSE:RF) was downgraded from Outperform to Market Perform at Bernstein today. The stock closed yesterday at $9.54 on volume of 17.5 million shares, below average daily volume of 20.9 million.
Regions Financial (NYSE:RF) has potential upside of 17.6% based on a current price of $9.54 and analysts' consensus price target of $11.22. The stock should discover initial support at its 200-day moving average (MA) of $9.06 and subsequent support at its 50-day MA of $8.36.
Regions Financial Corporation is a regional multi-bank holding company. The Company provides mortgage banking, credit life insurance, leasing, commercial accounts receivable factoring, specialty mortgage financing, and securities brokerage services. Regions provides banking services throughout the South, Midwest, and Eastern United States.
In the past 52 weeks, shares of Regions Financial have traded between a low of $7.00 and a high of $10.87 and closed yesterday at $9.54, which is 36% above that low price. The 200-day and 50-day moving averages have moved 0.24% lower and 1.51% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Regions Financial on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.07. Since that recommendation, shares of Regions Financial have risen 5.5%. We continue to monitor RF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades regions financial