Hancock Whitney Co. (NASDAQ:HWC) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in Hancock Whitney Co. (NASDAQ:HWC) by 13.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,883 shares of the company’s stock after selling 1,963 shares during the quarter. Truist Financial Corp’s holdings in Hancock Whitney were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its holdings in shares of Hancock Whitney by 0.3% in the first quarter. Retirement Systems of Alabama now owns 108,183 shares of the company’s stock valued at $4,981,000 after acquiring an additional 284 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of Hancock Whitney by 5.7% in the second quarter. AlphaMark Advisors LLC now owns 6,622 shares of the company’s stock valued at $317,000 after acquiring an additional 356 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Hancock Whitney by 2.4% in the first quarter. State of Michigan Retirement System now owns 21,140 shares of the company’s stock valued at $973,000 after acquiring an additional 500 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Hancock Whitney by 5.5% in the second quarter. SG Americas Securities LLC now owns 10,865 shares of the company’s stock valued at $520,000 after acquiring an additional 568 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hancock Whitney by 3.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,147 shares of the company’s stock worth $868,000 after buying an additional 618 shares in the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insiders Place Their Bets

In other Hancock Whitney news, Director Frank E. Bertucci sold 2,053 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the sale, the director now directly owns 22,554 shares of the company’s stock, valued at approximately $1,286,254.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HWC. Hovde Group raised 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. Jefferies Financial Group reduced their target price on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. DA Davidson raised their target price on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Truist Financial reduced their target price on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.67.

Hancock Whitney Stock Performance

NASDAQ HWC opened at $53.77 on Wednesday. The stock has a market cap of $4.66 billion, a P/E ratio of 12.53 and a beta of 1.26. The company’s 50-day simple moving average is $50.67 and its 200 day simple moving average is $48.49. Hancock Whitney Co. has a twelve month low of $32.16 and a twelve month high of $57.78. 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 posted its earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.11. The business had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $359.11 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, research analysts forecast that Hancock Whitney Co. will post 5.14 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.60 annualized dividend and a yield of 2.98%. Hancock Whitney’s dividend payout ratio is 37.30%.

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.