Regions Financial Corporation (NYSE:RF) has witnessed a drop of 4.3% or 1,290,337 shares in its short figure. The short interest diminution took it from 29,871,508 on May 31,2016 to 28,581,171 on June 15,2016. In terms of floated shares, the short interest was calculated to be 2.3%. The days to cover are 2 given that the daily volume averaged 17,674,700 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Regions Financial Corporation (NYSE:RF): The stock opened at $8.89 on Friday but the bulls could not build on the opening and the stock topped out at $9.00 for the day. The stock traded down to $8.52 during the day, due to lack of any buying support eventually closed down at $8.53 with a loss of -9.74% for the day. The stock had closed at $9.45 on the previous day. The total traded volume was 31,847,591 shares.
The company shares have dropped -17.10% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $10.87 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $9.41 and the 200 Day Moving Average price is recorded at $8.70.
Regions Financial Corporation (NYSE:RF) has tumbled 6.16% during the past week and has dropped 13.58% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.6%. Regions Financial Corporation (NYSE:RF) has underperformed the index by 10.96% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.