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Downgrade Alert for Regions Financial (RF)

By Shiri Gupta

Regions Financial (NYSE:RF) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $8.42 on volume of 20.3 million shares, below average daily volume of 20.9 million.

Regions Financial has overhead space with shares priced $8.42, or 24.9% below the average consensus analyst price target of $11.22. The stock should find resistance at its 200-day moving average (MA) of $9.06, as well as support at its 50-day MA of $8.36.

Over the past year, Regions Financial has traded in a range of $7.00 to $10.87 and closed yesterday at $8.42, 20% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.

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.

SmarTrend is monitoring the recent change of momentum in Regions Financial. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Regions Financial in search of a potential trend change.

Keywords: analyst upgrades/downgrades regions financial

Ticker(s): RF