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Upgrade Alert for Regions Financial (RF)

By Nick Russo

Regions Financial (NYSE:RF) was upgraded from Market Perform to Outperform at FBR Capital today. The stock closed yesterday at $13.27 on volume of 49.6 million shares, above average daily volume of 20.9 million.

Based on a current price of $13.27, Regions Financial is currently 15.5% above its 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.

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 $12.47 and closed yesterday at $13.27, which is 90% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.5%.

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 37.3%. 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

Ticker(s): RF