Downgrade Alert for Regions Financial (RF)
Regions Financial (NYSE:RF) was downgraded from Outperform to Market Perform at FBR Capital today. The stock closed yesterday at $10.26 on volume of 15.7 million shares, below average daily volume of 20.9 million.
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.
Over the past year, Regions Financial has traded in a range of $7.00 to $10.87 and closed yesterday at $10.26, 47% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.
There is potential upside of 9.3% for shares of Regions Financial based on a current price of $10.26 and an average consensus analyst price target of $11.22. Regions Financial shares have support at the 200-day moving average (MA) of $9.06 and additional support at the 50-day MA of $8.36.
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 14.4%. 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