Nordea Investment Management AB Sells 21,057 Shares of Hancock Whitney Corporation $HWC

Nordea Investment Management AB cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 12.6% during the 4th quarter, HoldingsChannel reports. The fund owned 146,362 shares of the company’s stock after selling 21,057 shares during the quarter. Nordea Investment Management AB’s holdings in Hancock Whitney were worth $9,369,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Canal Capital Management LLC purchased a new position in Hancock Whitney in the 4th quarter worth $401,000. GAMMA Investing LLC lifted its stake in Hancock Whitney by 12.7% in the fourth quarter. GAMMA Investing LLC now owns 1,617 shares of the company’s stock worth $103,000 after purchasing an additional 182 shares during the last quarter. IFP Advisors Inc boosted its position in Hancock Whitney by 67.6% during 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 period. Swiss Life Asset Management Ltd bought a new position in shares of Hancock Whitney during the third quarter valued at about $253,000. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Hancock Whitney by 84,400.0% during the third quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company’s stock valued at $53,000 after buying an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Price Performance

HWC stock opened at $63.79 on Thursday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 11.23 and a beta of 1.05. The firm’s 50-day moving average price is $67.41 and its two-hundred day moving average price is $63.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $75.43.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, January 20th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $81.55 million during the quarter, compared to analyst estimates of $391.63 million. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. During the same period in the prior year, the business posted $1.40 earnings per share. As a group, equities analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Thursday, March 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.45. Hancock Whitney’s dividend payout ratio is currently 35.21%.

Analysts Set New Price Targets

HWC has been the subject of a number of recent research reports. DA Davidson boosted their target price on Hancock Whitney from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Zacks Research upgraded Hancock Whitney from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Barclays began coverage on Hancock Whitney in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $76.00 price target on the stock. Raymond James Financial boosted their price objective on Hancock Whitney from $72.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Hancock Whitney in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Hancock Whitney presently has a consensus rating of “Buy” and an average target price of $75.63.

Insiders Place Their Bets

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $68.57, for a total value of $358,415.39. Following the completion of the sale, the insider owned 33,301 shares in the company, valued at approximately $2,283,449.57. This trade represents a 13.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.91% of the company’s stock.

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.