Man Group plc bought a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,265 shares of the company’s stock, valued at approximately $543,000.
Other large investors also recently modified their holdings of the company. Jupiter Topco LLC bought a new position in shares of Hancock Whitney during the 2nd quarter worth $2,556,000. Hsbc Holdings PLC bought a new stake in Hancock Whitney in the 2nd quarter valued at about $3,051,000. Legal & General Group Plc bought a new stake in Hancock Whitney in the 2nd quarter valued at about $8,012,000. The Manufacturers Life Insurance Company purchased a new stake in Hancock Whitney during the second quarter valued at about $40,112,000. Finally, Sanctuary Advisors LLC bought a new position in Hancock Whitney during the second quarter worth about $1,745,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on HWC. Benchmark boosted their target price on shares of Hancock Whitney from $84.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Citigroup reiterated a “buy” rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their target price on Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.78.
Insider Buying and Selling
In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares of the company’s stock, valued at $1,189,166. The trade was a 24.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction on Friday, July 24th. The stock was 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 in the company, valued at $3,364,108.80. The trade was a 33.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.92% of the company’s stock.
Hancock Whitney Trading Up 1.0%
Shares of HWC stock opened at $75.60 on Friday. The company has a market capitalization of $6.06 billion, a PE ratio of 14.82 and a beta of 0.94. Hancock Whitney Corporation has a 52-week low of $54.05 and a 52-week high of $80.13. The business’s fifty day moving average is $76.31 and its 200 day moving average is $70.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.
Hancock Whitney Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s dividend payout ratio is 39.22%.
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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