Hancock Whitney (NASDAQ:HWC – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55, FiscalAI reports. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.The firm had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million.
Hancock Whitney Stock Performance
Hancock Whitney stock traded down $0.65 during trading hours on Tuesday, hitting $76.64. 1,422,309 shares of the stock traded hands, compared to its average volume of 894,304. The firm’s 50 day moving average price is $71.16 and its 200-day moving average price is $68.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 15.74 and a beta of 0.95. Hancock Whitney has a 1 year low of $54.05 and a 1 year high of $79.36.
Hancock Whitney Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, June 5th. Hancock Whitney’s payout ratio is presently 41.07%.
Insider Activity
Institutional Trading of Hancock Whitney
Several institutional investors and hedge funds have recently bought and sold shares of the business. Channing Capital Management LLC purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $80,246,000. UBS Group AG grew its holdings in Hancock Whitney by 134.3% during the third quarter. UBS Group AG now owns 909,460 shares of the company’s stock worth $56,941,000 after acquiring an additional 521,261 shares during the period. New York State Common Retirement Fund raised its position in Hancock Whitney by 957.7% during the fourth quarter. New York State Common Retirement Fund now owns 324,936 shares of the company’s stock valued at $20,692,000 after acquiring an additional 294,215 shares in the last quarter. Two Sigma Investments LP raised its position in Hancock Whitney by 898.0% during the third quarter. Two Sigma Investments LP now owns 314,473 shares of the company’s stock valued at $19,689,000 after acquiring an additional 282,962 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Hancock Whitney by 355.1% in the third quarter. Millennium Management LLC now owns 263,290 shares of the company’s stock valued at $16,485,000 after acquiring an additional 205,443 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Benchmark assumed coverage on Hancock Whitney in a research report on Wednesday, June 24th. They set a “buy” rating and a $84.00 target price on the stock. Hovde Group lowered Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price target on the stock. in a research note on Friday, June 12th. Keefe, Bruyette & Woods upped their price objective on shares of Hancock Whitney from $72.00 to $78.00 and gave the company a “market perform” rating in a report on Thursday, July 9th. Zacks Research raised shares of Hancock Whitney from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Hancock Whitney has a consensus rating of “Buy” and a consensus target price of $80.50.
Check Out Our Latest Research 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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