Penn Capital Management Company LLC increased its position in shares of Hancock Whitney Corporation (NASDAQ:HWC – Free Report) by 44.6% during the second quarter, Holdings Channel reports. The institutional investor owned 272,472 shares of the company’s stock after purchasing an additional 84,047 shares during the quarter. Hancock Whitney comprises 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 28th biggest position. Penn Capital Management Company LLC’s holdings in Hancock Whitney were worth $20,381,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi acquired a new position in Hancock Whitney in the 1st quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Hancock Whitney by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock worth $2,710,000 after purchasing an additional 2,255 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Hancock Whitney by 22.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock worth $197,000 after purchasing an additional 700 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Hancock Whitney by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company’s stock valued at $15,078,000 after purchasing an additional 11,551 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Hancock Whitney by 951.9% during the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock valued at $6,494,000 after purchasing an additional 112,042 shares during the period. 81.22% of the stock is currently owned by institutional investors.
Hancock Whitney Price Performance
Shares of HWC stock opened at $75.07 on Friday. The stock’s fifty day simple moving average is $76.14 and its 200 day simple moving average is $70.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 14.72 and a beta of 0.95. Hancock Whitney Corporation has a one year low of $54.05 and a one year high of $80.13.
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 given a dividend of $0.50 per share. The ex-dividend date is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. Hancock Whitney’s dividend payout ratio (DPR) is 39.22%.
Insider Activity
In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the sale, the insider directly owned 15,565 shares of the company’s stock, valued at approximately $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction that occurred 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 sale, 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.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on HWC shares. Stephens reduced their target price on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Benchmark boosted their price target 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. Piper Sandler restated an “overweight” rating and issued a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Citigroup reaffirmed a “buy” rating on shares of Hancock Whitney in a report on Thursday, July 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $87.00 target price on shares of Hancock Whitney in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.78.
Read Our Latest Stock 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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