Corient Private Wealth LP Takes $2.72 Million Position in Hancock Whitney Corporation $HWC

Corient Private Wealth LP purchased a new stake in Hancock Whitney Corporation (NASDAQ:HWCFree Report) in the second quarter, HoldingsChannel reports. The fund purchased 36,426 shares of the company’s stock, valued at approximately $2,722,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP acquired a new stake in Hancock Whitney during the second quarter worth about $28,000. Hilton Head Capital Partners LLC acquired a new position in Hancock Whitney in the 4th quarter valued at approximately $35,000. Root Financial Partners LLC raised its holdings in Hancock Whitney by 70.9% in the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock valued at $39,000 after acquiring an additional 254 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Hancock Whitney by 67.6% in the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after acquiring an additional 253 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Hancock Whitney in the 4th quarter worth approximately $40,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Stock Down 1.7%

Shares of HWC opened at $73.24 on Wednesday. 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 Corporation has a 52 week low of $54.05 and a 52 week high of $80.13. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 14.36 and a beta of 0.94. The business’s fifty day moving average price is $76.24 and its two-hundred day moving average price is $70.23.

Hancock Whitney (NASDAQ:HWCGet Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. Hancock Whitney’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 EPS. On average, analysts predict that Hancock Whitney Corporation will post 6.44 earnings per share for the current 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s dividend payout ratio is currently 39.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Citigroup reaffirmed a “buy” rating on shares of Hancock Whitney in a report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their target price 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. Raymond James Financial reissued a “strong-buy” rating and issued a $87.00 target price on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $87.00 price target 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. According to data from MarketBeat, Hancock Whitney presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.78.

Get Our Latest Stock Analysis on Hancock Whitney

Insider Transactions at Hancock Whitney

In related news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the 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 sale, the insider directly owned 15,565 shares in the company, valued at $1,189,166. This trade represents a 24.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney 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 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. Corporate insiders own 0.92% of the company’s stock.

About Hancock Whitney

(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

Want to see what other hedge funds are holding HWC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hancock Whitney Corporation (NASDAQ:HWCFree Report).

Institutional Ownership by Quarter for Hancock Whitney (NASDAQ:HWC)

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