Intech Investment Management LLC Makes New Investment in Hancock Whitney Co. (NASDAQ:HWC)

Intech Investment Management LLC purchased a new stake in Hancock Whitney Co. (NASDAQ:HWC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 37,622 shares of the company’s stock, valued at approximately $1,799,000.

A number of other institutional investors also recently modified their holdings of HWC. Vanguard Group Inc. boosted its holdings in Hancock Whitney by 0.4% during the first quarter. Vanguard Group Inc. now owns 9,226,780 shares of the company’s stock worth $424,801,000 after purchasing an additional 34,152 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hancock Whitney by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,980,204 shares of the company’s stock valued at $238,197,000 after acquiring an additional 167,304 shares in the last quarter. American Century Companies Inc. increased its position in shares of Hancock Whitney by 20.4% in the second quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock valued at $67,015,000 after acquiring an additional 237,526 shares during the last quarter. Norges Bank acquired a new stake in shares of Hancock Whitney in the fourth quarter valued at about $46,846,000. Finally, Wasatch Advisors LP raised its holdings in Hancock Whitney by 3.7% during the fourth quarter. Wasatch Advisors LP now owns 710,251 shares of the company’s stock worth $34,511,000 after acquiring an additional 25,215 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Hovde Group boosted their price target on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price target on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Piper Sandler lifted their price objective 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. Jefferies Financial Group dropped their target price on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, Truist Financial reduced their price target on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

Hancock Whitney Trading Down 0.2 %

Shares of HWC stock opened at $51.35 on Tuesday. Hancock Whitney Co. has a 12-month low of $32.16 and a 12-month high of $57.78. The company has a market capitalization of $4.45 billion, a PE ratio of 11.97 and a beta of 1.26. The firm has a 50 day moving average price of $51.55 and a two-hundred day moving average price of $47.68. 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 (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.11. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The business had revenue of $359.60 million during the quarter, compared to analysts’ expectations of $359.11 million. During the same period last year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts predict that Hancock Whitney Co. will post 5.17 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.40 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. 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 dated Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the completion of the sale, the director now owns 22,554 shares of the company’s stock, valued at approximately $1,286,254.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

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.