BTC Capital Management Inc. Takes Position in Hancock Whitney Co. (NASDAQ:HWC)

BTC Capital Management Inc. acquired a new position in Hancock Whitney Co. (NASDAQ:HWC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,590 shares of the company’s stock, valued at approximately $349,000.

Other large investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Hancock Whitney during the 4th quarter valued at about $29,000. OLD Point Trust & Financial Services N A bought a new position in Hancock Whitney in the fourth quarter valued at approximately $49,000. Quadrant Capital Group LLC grew its holdings in Hancock Whitney by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,260 shares of the company’s stock worth $61,000 after acquiring an additional 328 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Hancock Whitney by 155.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,714 shares of the company’s stock valued at $83,000 after acquiring an additional 1,044 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Hancock Whitney by 32.4% in the 4th quarter. Blue Trust Inc. now owns 2,569 shares of the company’s stock valued at $125,000 after purchasing an additional 628 shares during the period. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insiders Place Their Bets

In other news, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the sale, the insider now directly owns 58,843 shares in the company, valued at $2,755,029.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christine L. Pickering sold 1,300 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $45.62, for a total transaction of $59,306.00. Following the completion of the transaction, the director now directly owns 23,982 shares of the company’s stock, valued at $1,094,058.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cecil W. Knight, Jr. sold 844 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $46.82, for a total value of $39,516.08. Following the transaction, the insider now directly owns 58,843 shares in the company, valued at approximately $2,755,029.26. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Hancock Whitney Stock Up 0.5 %

Hancock Whitney stock opened at $45.00 on Friday. Hancock Whitney Co. has a twelve month low of $32.16 and a twelve month high of $49.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $45.99 and a 200-day moving average of $45.30. The stock has a market capitalization of $3.90 billion, a PE ratio of 10.49 and a beta of 1.28.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, April 16th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. Hancock Whitney had a net margin of 19.07% and a return on equity of 11.89%. The firm had revenue of $354.02 million during the quarter, compared to analyst estimates of $353.15 million. On average, equities research analysts anticipate that Hancock Whitney Co. will post 4.88 EPS for the current fiscal year.

Hancock Whitney Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, June 5th were paid a $0.40 dividend. This is a boost from Hancock Whitney’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.60 annualized dividend and a yield of 3.56%. Hancock Whitney’s payout ratio is presently 37.30%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HWC. DA Davidson lifted their price objective on Hancock Whitney from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group lowered their price target on Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised shares of Hancock Whitney from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $55.00 in a research note on Friday, May 31st. Truist Financial decreased their price objective on shares of Hancock Whitney from $50.00 to $46.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $52.00 target price (down from $55.00) on shares of Hancock Whitney in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.88.

About Hancock Whitney

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.