The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Regions Financial Corp. shares valued at $968,500 were purchased by RHODES WILLIAM C III on Apr 23 ’24. At $19.37 per share, RHODES WILLIAM C III acquired 50,000 shares. The insider’s holdings grew to 50,000 shares worth approximately $0.98 million following the completion of this transaction.
Also, Lusco C. Matthew sold 28,617 shares, netting a total of over 499,839 in proceeds. Following the sale of shares at $17.47 each, the insider now holds 103,307 shares.
Before that, Smith Ronald G. had sold 10,000 shares from its account. In a trade valued at $209,300, the SEVP traded Regions Financial Corp. shares for $20.93 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $5.51 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 surge of approximately 3.21%. Over the course of the year, Regions Financial Corp. shares have jumped approximately 1.19%. 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 $19.36, while a 200-day SMA reached $18.28. Nevertheless, trading volume fell to 9.16 million shares from 11.04 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 19.30, which, if violated, would cause prices to drop to 18.98. In the upper region, resistance lies at 19.98. The next price resistance is at 20.34. RSI (Relative Strength Index) is 51.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 47.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
