Moody National Bank Trust Division lowered its position in shares of Hancock Whitney Corporation (NASDAQ:HWC – Free Report) by 37.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 11,217 shares of the company’s stock after selling 6,578 shares during the quarter. Moody National Bank Trust Division’s holdings in Hancock Whitney were worth $838,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Hancock Whitney in the fourth quarter valued at about $32,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Hancock Whitney during the fourth quarter worth about $35,000. Root Financial Partners LLC lifted its holdings in shares of Hancock Whitney by 70.9% during the first quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock worth $39,000 after purchasing an additional 254 shares during the period. IFP Advisors Inc boosted its position in Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Hancock Whitney in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.22% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on HWC. Barclays increased their price target on shares of Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings downgraded shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Stephens cut their price objective on shares of Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Benchmark raised their target price on shares of Hancock Whitney from $84.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Hovde Group downgraded shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 target price for the company. in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.78.
Insider Buying and Selling at Hancock Whitney
In other Hancock Whitney news, CFO Michael M. Achary sold 22,694 shares of the company’s 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 owned 44,160 shares in the company, valued at approximately $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine L. Pickering sold 417 shares of the stock in a transaction dated 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 directly owned 25,066 shares in the company, valued at approximately $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.92% of the company’s stock.
Hancock Whitney Stock Down 0.3%
Hancock Whitney stock opened at $78.32 on Thursday. The business’s 50-day moving average price is $73.67 and its 200 day moving average price is $69.35. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 15.36 and a beta of 0.95. Hancock Whitney Corporation has a 52 week low of $54.05 and a 52 week high of $79.36.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last announced its quarterly 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 company had revenue of $403.57 million during the quarter, compared to the consensus estimate of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.Hancock Whitney’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, sell-side analysts anticipate that Hancock Whitney Corporation will post 6.45 earnings per share for the current year.
Hancock Whitney Announces Dividend
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 $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 payout ratio is currently 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.
See Also
- Five stocks we like better than Hancock Whitney
- SpaceX: Love the Company, But the Stock Is a Harder Call
- Ulta’s Growth Is Real, But So Are the Risks
- BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
Receive News & Ratings for Hancock Whitney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hancock Whitney and related companies with MarketBeat.com's FREE daily email newsletter.
