UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC – Free Report) by 55.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 305,420 shares of the company’s stock after purchasing an additional 108,723 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.38% of Hancock Whitney worth $22,821,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Hsbc Holdings PLC increased its position in shares of Hancock Whitney by 89.9% during the second quarter. Hsbc Holdings PLC now owns 40,744 shares of the company’s stock worth $3,051,000 after acquiring an additional 19,287 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Hancock Whitney in the 2nd quarter worth approximately $231,000. United Capital Financial Advisors LLC bought a new stake in Hancock Whitney during the second quarter valued at $505,000. Public Employees Retirement System of Ohio bought a new stake in shares of Hancock Whitney during the 2nd quarter valued at about $89,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Hancock Whitney during the second quarter valued at approximately $1,208,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.
Hancock Whitney Trading Up 0.3%
NASDAQ:HWC opened at $75.84 on Friday. The company has a market capitalization of $6.08 billion, a P/E ratio of 14.87 and a beta of 0.94. The stock’s 50 day moving average price is $76.33 and its 200 day moving average price is $70.33. 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.
Hancock Whitney Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 2.6%. Hancock Whitney’s payout ratio is currently 39.22%.
Insider Buying and Selling at Hancock Whitney
In related news, CFO Michael 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 sale, the chief financial officer owned 44,160 shares of the company’s stock, valued at $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the transaction, the insider owned 15,565 shares of the company’s stock, valued at $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.92% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on HWC. Benchmark lifted their price target on Hancock Whitney from $84.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price on shares of Hancock Whitney in a report on Wednesday, July 22nd. Zacks Research downgraded shares of Hancock Whitney from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Hovde Group cut 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 report on Friday, June 12th. Finally, Keefe, Bruyette & Woods increased their price target on Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Hancock Whitney has an average rating of “Moderate Buy” and an average target price of $83.78.
Check Out Our Latest Stock Analysis on Hancock Whitney
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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