Hancock Whitney Corp Sells 16,645 Shares of Regions Financial Co. (NYSE:RF)

Hancock Whitney Corp trimmed its holdings in Regions Financial Co. (NYSE:RF) by 19.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,147 shares of the bank’s stock after selling 16,645 shares during the period. Hancock Whitney Corp’s holdings in Regions Financial were worth $1,346,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RF. Vanguard Group Inc. raised its stake in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Regions Financial by 281.7% in the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after buying an additional 58,739 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Regions Financial by 1,676.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock worth $1,816,000 after buying an additional 88,437 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of Regions Financial by 1,075.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after buying an additional 40,972 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Regions Financial by 30.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after buying an additional 98,003 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group raised their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company upped their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods cut their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.69.

Regions Financial Stock Performance

RF stock opened at $23.11 on Monday. The business’s fifty day moving average is $22.08 and its 200-day moving average is $20.43. Regions Financial Co. has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market cap of $21.16 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. Regions Financial’s revenue for the quarter was down 11.5% compared to the same quarter last year. Equities research analysts forecast that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.33%. The ex-dividend date is Tuesday, September 3rd. Regions Financial’s payout ratio is presently 54.35%.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.