Hancock Whitney (NASDAQ:HWC) Price Target Raised to $82.00

Hancock Whitney (NASDAQ:HWCFree Report) had its price target lifted by Barclays from $80.00 to $82.00 in a research note published on Monday, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also recently commented on HWC. DA Davidson upped their target price on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Keefe, Bruyette & Woods lifted their price target on shares of Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Citigroup reissued a “buy” rating on shares of Hancock Whitney in a research note on Thursday, July 23rd. Stephens decreased their price objective on shares of Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, Hovde Group cut shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price objective for the company. in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.78.

View Our Latest Report on HWC

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $78.32 on Monday. Hancock Whitney has a 52 week low of $54.05 and a 52 week high of $79.36. The business’s fifty day simple moving average is $73.67 and its 200-day simple moving average is $69.35. The firm has a market cap of $6.36 billion, a PE ratio of 15.36 and a beta of 0.95. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWCGet Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. Equities analysts forecast that Hancock Whitney will post 6.45 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 annualized dividend and a yield of 2.6%. Hancock Whitney’s dividend payout ratio is presently 39.22%.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 417 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $76.18, for a total transaction 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 approximately $3,364,108.80. The trade was a 33.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Hancock Whitney by 8.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,909 shares of the company’s stock worth $143,000 after buying an additional 147 shares in the last quarter. Alpine Woods Capital Investors LLC acquired a new position in shares of Hancock Whitney in the first quarter worth $200,000. Summit Financial Wealth Advisors LLC increased its position in shares of Hancock Whitney by 0.6% during the first quarter. Summit Financial Wealth Advisors LLC now owns 86,837 shares of the company’s stock worth $5,522,000 after acquiring an additional 520 shares during the period. Bank of America Corp DE increased its position in shares of Hancock Whitney by 16.4% during the first quarter. Bank of America Corp DE now owns 807,585 shares of the company’s stock worth $51,354,000 after acquiring an additional 114,029 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Hancock Whitney in the first quarter valued at $8,456,000. 81.22% of the stock is owned by hedge funds and other institutional investors.

About Hancock Whitney

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Hancock Whitney (NASDAQ:HWC)

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