Regions Financial Corp. (NYSE: RF) shares rose on Tuesday Dec 6 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, U.S. stocks looked for direction on Tuesday with the Dow industrials trying for a fresh record a day after closing at an all-time high in the previous session.
The Dow Jones Industrial Average DJIA, -0.08% opened little-changed at 19,221, the S&P 500 index SPX, -0.01% climbed 2 points, or 0.1%, at 2,206, while the Nasdaq Composite Index COMP, +0.20%
Regions Financial Corp. (NYSE: RF) had its price target increased by equities researchers at Wedbush from $0.00 to $15.00. Wedbush currently has a rating of Outperform on the shares. A number of other analysts have spoken on the stock recently, and Regions Financial Corp. has secured a consensus one-year price target of $12.97, lower than the opening price of $14.12. Regions Financial Corp. stock has a 52-week high of $14.15.
Regions Financial Corp. (NYSE: RF) shares last traded at $14.03, which represents a jump of $0.01 or 0.04% compared to the previous closing price. Opening at $14.12, they fluctuated from $13.92 and $14.15 throughout the day.
Regions Financial Corp. (NYSE: RF) currently has a market cap of 17.26B.
Regions Financial Corp. (NYSE: RF) Average Daily Trading Volume
3,937,537 shares crossed the trading desk yesterday, lower than normal, out of a total float 1,227,158,000. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to identify large volume growth or circulation by institutional investors.
However, just a day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Regions Financial Corp. (NYSE: RF) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By following the activity of these professional investors—and the moving averages they influence— traders can make smarter trades.
Trades for Regions Financial Corp. (NYSE: RF) have ranged from $7.00 – 14.150, and the stock now has a 50-day MA of $11.92 and 200-day MA of $10.06. Today’s last price is 0.88%% under the 52 week high of $14.15.
Earnings growth is a crucial factor to consider when buying stocks and investors identify companies that have raised their earnings at least 25% or more over the past 3 years.
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