The stock of Regions Financial Corporation (NYSE:RF) is now priced at $11.63 and the shares are 0.07 points up or 0.61% higher compared to its previous closing price of $11.56. The stock had 5.616 million contracts set over the past session. RF shares’ daily volume is compared to its average trading volume at 9.9 million shares. However, it has a float of 956 million and although its performance was -0.43% over the week, it’s one to watch. Analysts have given the RF stock a yearly average price target of $12.7 per share. It means the stock’s upside potential is 9.2% with the RF share price recently placing at $11.37 to $11.72. However, some brokerage firms have priced the stock below the average, including one that has called $10.5.
The shorts are running away from the Regions Financial Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the RF shares have declined. Short interest in the stock represents just 2.01% of its float, but the volume has dropped by 0.
In the last trading session, Regions Financial Corporation (NYSE:RF) dropped by -$0.05 over the week and gained $0.93 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $17.54. The stock recorded its established 52-week high on 12/16/19.
Since 03/19/20, the stock has traded to a low of $6.94 at 67.58%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.67. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Regions Financial Corporation’s two-week RSI is 55.12. This suggests that the stock is neutral at the moment and that RF shares’ price movement remains stable. The stochastic readings are equally revealing at 59.09% meaning the RF share price is currently in neutral territory.
The technical chart shows that the RF stock will likely settle at between $11.78 and $11.92 per share. However, if the stock dips below $11.43, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.22.
Currently, the stock is trading in the green of MACD, with a reading of 0.16. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned RF a rating of Outperform in their intiating review released on July 31. Raymond James analysts upgraded their recommendation of the stock from Mkt Perform to Outperform while keeping its target price at $15 in a flash note released to investors on June 17. Raymond James seeing the stock struggling downgraded it from Strong Buy to Mkt Perform on March 09.
The average rating for the RF equity is 2.32 and is currently gathering a bullish momentum. Of 26 analysts tracking Regions Financial Corporation polled by Reuters, 12 rated RF as a hold. The remaining 14 analysts were split evenly. However, the split wasn’t equal as a majority (13) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the RF stock price is 9.64X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 17.6 above the group’s average of 14.6. Regions Financial Corporation has its P/E ratio at 0.7, which means that the stock is currently trading at a discount relative to the 0.9 industry average.