Regions Financial Corporation (RF) stock is expected to deviate a maximum of $0.77 from the average target price of $9.75 for the short term period. 16 Street Experts have initiated coverage on the stock with the most promising target being $11 and the most muted being $9.
Regions Financial Corporation (RF) reported a drop of 7.6% or 2,182,478 shares in its short interest. The short figure came in at 2.1% of the total floats. The average daily volume of 23,132,939 shares suggests that the days to cover 26,398,693 short positions, as on June 30,2016, will be 1. On June 15,2016, the short interest was 28,581,171 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, In the latest statement by the brokerage house, Keefe Bruyette & Woods upgrades its outlook on Regions Financial Corporation (NYSE:RF). The current rating of the shares is Market Perform, according to the research report released by the firm. Previously, the company had a rating of Underperform. The brokerage firm raises the price target from $9.5 per share to $11 per share. The rating by the firm was issued on June 6, 2016.
Regions Financial Corporation (NYSE:RF): stock turned positive on Thursday. Though the stock opened at $9.06, the bulls momentum made the stock top out at $9.12 level for the day. The stock recorded a low of $9.01 and closed the trading day at $9.08, in the green by 2.48%. The total traded volume for the day was 20,403,434. The stock had closed at $8.86 in the previous days trading.
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. The Company carries out its business in three segments: Corporate Bank, Consumer Bank and Wealth Management. The Corporate Bank segment represents the Companys commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending. The Consumer Bank segment represents the Companys branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans and small business loans, among others. The Wealth Management segment offers individuals, businesses, Governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.