Bessemer Group Inc. grew its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC – Free Report) by 4.8% in the 1st quarter, HoldingsChannel reports. The firm owned 482,699 shares of the company’s stock after acquiring an additional 22,009 shares during the quarter. Bessemer Group Inc.’s holdings in Hancock Whitney were worth $30,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in shares of Hancock Whitney by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 24,457 shares of the company’s stock worth $1,555,000 after buying an additional 153 shares during the last quarter. Vident Advisory LLC increased its holdings in Hancock Whitney by 4.5% during the fourth quarter. Vident Advisory LLC now owns 3,517 shares of the company’s stock worth $224,000 after buying an additional 153 shares during the last quarter. BTC Capital Management Inc. raised its position in Hancock Whitney by 1.9% in the first quarter. BTC Capital Management Inc. now owns 8,472 shares of the company’s stock worth $539,000 after acquiring an additional 162 shares during the period. Hilton Head Capital Partners LLC raised its position in Hancock Whitney by 31.0% in the first quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company’s stock worth $46,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Hancock Whitney by 12.7% in the fourth quarter. GAMMA Investing LLC now owns 1,617 shares of the company’s stock valued at $103,000 after acquiring an additional 182 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on HWC shares. Keefe, Bruyette & Woods increased their target price on shares of Hancock Whitney from $72.00 to $78.00 and gave the company a “market perform” rating in a research report on Thursday, July 9th. Zacks Research raised shares of Hancock Whitney from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Benchmark started coverage on Hancock Whitney in a research note on Wednesday, June 24th. They issued a “buy” rating and a $84.00 price objective on the stock. Weiss Ratings lowered Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, Barclays raised their target price on Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $80.50.
Hancock Whitney Price Performance
Shares of NASDAQ:HWC opened at $78.46 on Friday. The firm has a market capitalization of $6.37 billion, a PE ratio of 16.11 and a beta of 0.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $70.97 and a two-hundred day moving average price of $68.36. Hancock Whitney Corporation has a twelve month low of $54.05 and a twelve month high of $79.36.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.04. The company had revenue of $393.64 million for the quarter, compared to analyst estimates of $400.01 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The company’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Equities analysts forecast that Hancock Whitney Corporation will post 6.47 EPS for the current year.
Hancock Whitney Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Hancock Whitney’s payout ratio is presently 41.07%.
Insider Activity
In other Hancock Whitney news, Director Christine L. Pickering sold 417 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the sale, the director owned 25,066 shares in the company, valued at $1,683,432.56. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.92% of the stock is currently owned by corporate insiders.
About Hancock Whitney
Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.
The company’s core business activities include commercial banking, retail banking and wealth management services.
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