Regions Financial Stock Fell 7% In The Last Week, What To Expect?
- Date: 24-Jun-2021
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Regions Financial Stock Fell 7% In The Last Week, What To Expect?
KIEV, UKRAINE - 2018/09/10: In this photo illustration, the Regions Financial Corporation logo seen ... [+] displayed on a smartphone. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)
Regions Financial (NYSE: RF), a bank holding company which provides retail banking, commercial banking, mortgage, and other financial services, saw its stock fall by 6.7% to $20 over the last five trading days. In comparison, the broader S&P500 decreased 0.3% over the same period. Further, the company's stock dropped 13% over the last twenty-one trading days, as compared to a 2% increase in the S&P500. On June 8th, RF announced that it has entered into a definitive agreement to acquire home improvement lender EnerBank USA for $960 million in an all-cash deal, which is expected to close in the fourth-quarter of FY2021. This is a main reason behind the recent stock movement.
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