Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Regions Financial Corp. shares valued at $458,742 were sold by Ritter William D. on May 03 ’24. At $19.95 per share, Ritter William D. sold 23,000 shares. The insider’s holdings dropped to 41,671 shares worth approximately $0.9 million following the completion of this transaction.
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Also, RHODES WILLIAM C III purchased 50,000 shares, netting a total of over 968,500 in proceeds. Following the buying of shares at $19.37 each, the insider now holds 50,000 shares.
Before that, Lusco C. Matthew had sold 28,617 shares from its account. In a trade valued at $499,839, the SEVP & CRO traded Regions Financial Corp. shares for $17.47 each. Upon closing the transaction, the insider’s holdings decreased to 28,617 shares, worth approximately $2.23 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 -4.48%. Over the course of the year, Regions Financial Corp. shares have jumped approximately 11.15%. Shares of the company reached a 52-week high of $22.88 on 07/29/24 and a 52-week low of $17.42 on 02/07/24. A 50-day SMA is recorded $20.05, while a 200-day SMA reached $18.74. Nevertheless, trading volume fell to 8.66 million shares from 8.3 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 21.17, which, if violated, would cause prices to drop to 20.80. In the upper region, resistance lies at 22.17. The next price resistance is at 22.81. RSI (Relative Strength Index) is 53.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 63.06%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
