Regions Financial Corporation’s filing revealed that its SEVP Ritter William D. unloaded Company’s shares for reported $0.3 million on Jan 27. In the deal valued at $23.42 per share,13,000 shares were sold. As a result of this transaction, Ritter William D. now holds 24,344 shares worth roughly $ 0.57 million.
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Then, Lusco C. Matthew sold 100,000 shares, generating $2,282,760 in total proceeds. Upon selling the shares at $22.83, the SEVP & CRO now owns 77,843 shares.
UBS downgraded its Regions Financial Corporation [RF] rating to a Neutral from a a Buy in a research note published on Monday. PT values the company’s stock at a premium of 3.04 to its Monday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Hold”. DA Davidson began covering RF with “Buy” recommendation on December 21, 2022. Wolfe Research revised its rating on December 01, 2022. It rated RF as “an Outperform” which previously was an “a Peer perform”.
Price Performance Review of RF
On Monday, Regions Financial Corporation [NYSE:RF] saw its stock jump 0.43% to $23.27. On the same session, the stock had its day’s lowest price of $23.1993, but rose to a high of $23.53. Over the last five days, the stock has lost -2.47%. Regions Financial Corporation shares have risen nearly 7.93% since the year began. Nevertheless, the stocks have risen 0.82% over the past one year. While a 52-week high of $24.37 was reached on 02/02/23, a 52-week low of $18.01 was recorded on 01/19/23. SMA at 50 days reached $22.55, while 200 days put it at $21.50. A total of 6.83 million shares were traded, compared to the trading of 6.38 million shares in the previous session.
Levels Of Support And Resistance For RF Stock
The 24-hour chart illustrates a support level at 23.14, which if violated will result in even more drops to 23.00. On the upside, there is a resistance level at 23.47. A further resistance level may holdings at 23.66. The Relative Strength Index (RSI) on the 14-day chart is 50.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.41, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.41%. Stochastics %K at 33.94% indicates the stock is a holding.
How much short interest is there in Regions Financial Corporation?
A steep rise in short interest was recorded in Regions Financial Corporation stocks on Jan 12, 2023, growing by 2.9 million shares to a total of 22.8 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 19.9 million shares. There was a rise of 12.72%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.16% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.39.
Regions Financial Corporation [RF] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 105,718,685 shares, or roughly 11.31% of the outstanding RF shares. In other words, the investor’s shares have risen by 545,715 from its previous 13-F filing of 105172970.0. Additionally, BlackRock Fund Advisors increased 0.06% of its stake after which the total value it holdings stand at $1,497,893,584, while SSgA Funds Management, Inc. reduced -2.95% of its stake to hold $1.18 billion in the firm. Over the last quarter, Charles Schwab Investment Managem purchased 1,939,092 shares of Regions Financial Corporation, while Geode Capital Management LLC bought 184,465 shares. At present, LSV Asset Management is holding 16,037,731 shares valued at $377.53 million. Dimensional Fund Advisors LP owned 13,764,057 shares of the company at the time of its most recent 13F filing, worth $324.01 million.
According to FactSet, Regions Financial Corporation’s share price will average $25.46 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.9 percent from its previous closing price of $23.17. Analysts expect Regions Financial Corporation stock to reach the higher price of $30.00, while the lowest price estimate is $23.00. However, 29 analysts have rated RF stock as an Overweight in their predictions for 2023.