Hancock Whitney Corp Purchases 252,473 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Hancock Whitney Corp boosted its holdings in Hancock Whitney Co. (NASDAQ:HWC) by 30.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,069,223 shares of the company’s stock after acquiring an additional 252,473 shares during the period. Hancock Whitney accounts for about 1.7% of Hancock Whitney Corp’s portfolio, making the stock its 9th largest holding. Hancock Whitney Corp owned approximately 1.23% of Hancock Whitney worth $51,141,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Hancock Whitney in the 4th quarter worth approximately $46,846,000. Victory Capital Management Inc. lifted its stake in Hancock Whitney by 707.2% during the second quarter. Victory Capital Management Inc. now owns 576,264 shares of the company’s stock worth $27,563,000 after purchasing an additional 504,873 shares in the last quarter. American Century Companies Inc. lifted its stake in Hancock Whitney by 20.4% during the second quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock worth $67,015,000 after purchasing an additional 237,526 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Hancock Whitney by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 4,980,204 shares of the company’s stock worth $238,197,000 after buying an additional 167,304 shares during the period. Finally, Stieven Capital Advisors L.P. grew its stake in shares of Hancock Whitney by 60.6% in the first quarter. Stieven Capital Advisors L.P. now owns 357,386 shares of the company’s stock valued at $16,454,000 after buying an additional 134,800 shares in the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Trading Down 1.6 %

HWC opened at $51.43 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. Hancock Whitney Co. has a 52 week low of $32.16 and a 52 week high of $57.78. The business’s 50 day moving average is $51.55 and its two-hundred day moving average is $47.59. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 11.99 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm had revenue of $359.60 million during the quarter, compared to analysts’ expectations of $359.11 million. During the same quarter in the prior year, the business earned $1.35 EPS. Hancock Whitney’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts predict that Hancock Whitney Co. will post 5.17 EPS for the current year.

Hancock Whitney Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, September 5th. Hancock Whitney’s dividend payout ratio (DPR) is presently 37.30%.

Insider Buying and Selling

In other Hancock Whitney news, Director Frank E. Bertucci sold 2,053 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the transaction, the director now directly owns 22,554 shares of the company’s stock, valued at approximately $1,286,254.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on HWC shares. DA Davidson increased their target price on Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Truist Financial reduced their price target on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Hovde Group increased their target price on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised their price target on shares of Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hancock Whitney has an average rating of “Moderate Buy” and an average target price of $56.67.

Hancock Whitney Profile

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.