What’s Next for Regions Financial Corp (RF) After Forming Descending Triangle?

July 17, 2017 - By Stephen Andrade

Investors sentiment increased to 0.91 in 2016 Q4. Its up 0.13, from 0.78 in 2016Q3. It increased, as 42 investors sold Regions Financial Corp shares while 219 reduced holdings. 87 funds opened positions while 151 raised stakes. 892.05 million shares or 1.88% more from 875.58 million shares in 2016Q3 were reported.
Iberiabank Corp holds 53,135 shares. Utah Retirement System reported 231,617 shares. Zurcher Kantonalbank (Zurich Cantonalbank) invested in 0.04% or 284,758 shares. Endeavour Capital Advsr Incorporated, Connecticut-based fund reported 770,445 shares. Bkd Wealth Advisors Limited Liability Com reported 25,060 shares. Pinnacle Partners reported 0.28% stake. 1,016 were reported by Parkside Finance Bancorp Tru. Invesco reported 5.44 million shares. Moreover, Concannon Wealth Management Limited Liability has 0% invested in Regions Financial Corp (NYSE:RF) for 266 shares. Tuttle Tactical Management Ltd Liability Co reported 22,952 shares. Adage Capital Partners Gp Inc Limited Liability Company holds 0.17% or 4.38M shares in its portfolio. First Citizens Bankshares holds 0.37% or 235,598 shares in its portfolio. Piedmont Invest Lc reported 0% stake. Whittier Trust holds 0% or 3,019 shares in its portfolio. Blackrock Invest Mgmt Llc holds 0.09% of its portfolio in Regions Financial Corp (NYSE:RF) for 5.33M shares.

The stock of Regions Financial Corp (RF) formed a descending triangle with $15.88 target or 8.00 % above today’s $14.70 share price. The 9 months triangle pattern indicates low risk for the $17.50 billion company. If the $15.88 price target is reached, the company will be worth $1.40B more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.14% or $0.02 during the last trading session, reaching $14.7. About 8.53M shares traded. Regions Financial Corp (NYSE:RF) has risen 48.79% since July 17, 2016 and is uptrending. It has outperformed by 32.09% the S&P500.

Investors wait Regions Financial Corp (NYSE:RF) to report on July, 18. its quarterly earnings Wall Street analysts expect $0.24 EPS, up $0.04 or 20.00 % from last year’s $0.2 same quarter earnings. This translates into $285.71 million profit for RF giving the stock a 15.31 P/E. This is assuming the current $0.24 EPS is accurate. Regions Financial Corp’s Wall Street analysts see 4.35 % EPS growth, taking into account the $0.23 EPS reproted in the previous quarter,

Regions Financial Corp (NYSE:RF) Ratings Coverage

Among 28 analysts covering Regions Financial Corp (NYSE:RF), 7 have Buy rating, 4 Sell and 17 Hold. Therefore 25% are positive. Regions Financial Corp had 67 analyst reports since August 12, 2015 according to SRatingsIntel. Jefferies downgraded Regions Financial Corp (NYSE:RF) on Monday, November 28 to “Hold” rating. The stock has “Outperform” rating by Raymond James on Thursday, October 6. Guggenheim initiated the stock with “Buy” rating in Thursday, October 8 report. The stock of Regions Financial Corp (NYSE:RF) has “Outperform” rating given on Wednesday, March 15 by FBR Capital. As per Tuesday, June 20, the company rating was maintained by Keefe Bruyette & Woods. As per Wednesday, February 24, the company rating was downgraded by FIG Partners. The rating was reinitiated by UBS on Wednesday, January 11 with “Sell”. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Thursday, February 11. Barclays Capital maintained the shares of RF in report on Tuesday, January 3 with “Underweight” rating. The stock of Regions Financial Corp (NYSE:RF) has “Buy” rating given on Friday, May 5 by Bank of America.

More news for Regions Financial Corp (NYSE:RF) were recently published by: Businesswire.com, which released: “Regions Financial Corp. Announces CCAR Results; Proposed Capital Actions …” on June 28, 2017. Prnewswire.com‘s article titled: “Technical Snapshots for These Banking Stocks — Regions Financial, BB&T, First …” and published on June 20, 2017 is yet another important article.

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