Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Regions Financial Corp. shares valued at $499,839 were sold by Lusco C. Matthew on Dec 08 ’23. At $17.47 per share, Lusco C. Matthew sold 28,617 shares. The insider’s holdings dropped to 103,307 shares worth approximately $2.01 million following the completion of this transaction.
Also, Smith Ronald G. sold 10,000 shares, netting a total of over 209,300 in proceeds. Following the sale of shares at $20.93 each, the insider now holds 281,151 shares.
Before that, Hill J Thomas had added 11,926 shares to its account. In a trade valued at $200,134, the Director bought Regions Financial Corp. shares for $16.78 each. Upon closing the transaction, the insider’s holdings increased to 11,926 shares, worth approximately $0.45 million.
As published in a research note from Citigroup on March 18, 2024, Regions Financial Corp. [RF] has been rated up from a Neutral to a Buy and the price target has been revised to $23 from $20. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late January. As of January 09, 2024, Jefferies has increased its “Hold” rating to a “Buy” for RF. Earlier on January 03, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for RF stock which previously was a “an Outperform”.
Analyzing RF Stock Performance
During the last five days, there has been a drop of approximately -3.24%. Over the course of the year, Regions Financial Corp. shares have jumped approximately 0.15%. Shares of the company reached a 52-week high of $21.08 on 03/28/24 and a 52-week low of $17.42 on 02/07/24. A 50-day SMA is recorded $19.14, while a 200-day SMA reached $18.22. Nevertheless, trading volume fell to 8.06 million shares from 6.68 million shares the previous day.
Support And Resistance Levels for Regions Financial Corp. (RF)
According to the 24-hour chart, there is a support level at 19.15, which, if violated, would cause prices to drop to 18.89. In the upper region, resistance lies at 19.72. The next price resistance is at 20.02. RSI (Relative Strength Index) is 45.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 88.59%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Regions Financial Corp. subject to short interest?
Stocks of Regions Financial Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.79 million shares to 35.3 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 33.51 million shares. A jump of 5.07% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.89.
