Hancock Whitney Corporation (NASDAQ:HWC – Get Free Report) CFO Michael Achary sold 22,694 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $76.18, for a total value of $1,728,828.92. Following the completion of the transaction, the chief financial officer directly owned 44,160 shares of the company’s stock, valued at $3,364,108.80. This represents a 33.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Hancock Whitney Stock Up 2.0%
Shares of NASDAQ:HWC opened at $76.94 on Wednesday. The company has a fifty day simple moving average of $72.46 and a 200 day simple moving average of $68.94. The firm has a market cap of $6.24 billion, a PE ratio of 15.09 and a beta of 0.95. Hancock Whitney Corporation has a 12-month low of $54.05 and a 12-month high of $79.36. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. On average, equities research analysts anticipate that Hancock Whitney Corporation will post 6.45 EPS for the current fiscal year.
Hancock Whitney Announces Dividend
Institutional Investors Weigh In On Hancock Whitney
Several hedge funds have recently made changes to their positions in HWC. Dimensional Fund Advisors LP increased its position in shares of Hancock Whitney by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,790,954 shares of the company’s stock valued at $304,652,000 after purchasing an additional 21,655 shares during the period. State Street Corp grew its holdings in shares of Hancock Whitney by 2.9% during the fourth quarter. State Street Corp now owns 4,521,593 shares of the company’s stock worth $287,935,000 after purchasing an additional 126,367 shares during the last quarter. Channing Capital Management LLC bought a new stake in shares of Hancock Whitney during the fourth quarter valued at approximately $80,246,000. Goldman Sachs Group Inc. lifted its stake in shares of Hancock Whitney by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 920,152 shares of the company’s stock valued at $58,595,000 after acquiring an additional 162,482 shares during the period. Finally, UBS Group AG lifted its holdings in Hancock Whitney by 134.3% in the third quarter. UBS Group AG now owns 909,460 shares of the company’s stock valued at $56,941,000 after buying an additional 521,261 shares during the period. Institutional investors own 81.22% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Barclays upped their target price on shares of Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Zacks Research raised Hancock Whitney from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Benchmark lifted their price objective on shares of Hancock Whitney from $84.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of Hancock Whitney from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods raised their price target on Hancock Whitney from $78.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.56.
Check Out Our Latest Report on Hancock Whitney
Hancock Whitney Company Profile
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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