Wasatch Advisors LP Sells 12,016 Shares of Hancock Whitney Corporation $HWC

Wasatch Advisors LP cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 506,999 shares of the company’s stock after selling 12,016 shares during the quarter. Wasatch Advisors LP owned approximately 0.62% of Hancock Whitney worth $37,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Hancock Whitney by 8.3% in the second quarter. GAMMA Investing LLC now owns 1,909 shares of the company’s stock valued at $143,000 after purchasing an additional 147 shares during the period. Alpine Woods Capital Investors LLC purchased a new stake in shares of Hancock Whitney during the 1st quarter valued at approximately $200,000. Summit Financial Wealth Advisors LLC boosted its holdings in Hancock Whitney by 0.6% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 86,837 shares of the company’s stock worth $5,522,000 after buying an additional 520 shares during the period. Bank of America Corp DE boosted its holdings in Hancock Whitney by 16.4% in the 1st quarter. Bank of America Corp DE now owns 807,585 shares of the company’s stock worth $51,354,000 after buying an additional 114,029 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Hancock Whitney in the 1st quarter valued at approximately $8,456,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Performance

NASDAQ HWC opened at $78.22 on Wednesday. The company’s 50 day simple moving average is $74.44 and its two-hundred day simple moving average is $69.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.79. Hancock Whitney Corporation has a 1 year low of $54.05 and a 1 year high of $79.36. The stock has a market capitalization of $6.27 billion, a PE ratio of 15.34 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $403.57 million during the quarter, compared to analyst estimates of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. Analysts predict that Hancock Whitney Corporation will post 6.45 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm 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. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s payout ratio is presently 39.22%.

Insider Transactions at Hancock Whitney

In other news, CFO Michael M. Achary sold 22,694 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine L. Pickering sold 417 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $67.16, for a total value of $28,005.72. Following the transaction, the director directly owned 25,066 shares of the company’s stock, valued at $1,683,432.56. The trade was a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HWC shares. Hovde Group cut shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 target price on the stock. in a report on Friday, June 12th. Zacks Research cut Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered Hancock Whitney from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Barclays increased their price objective on Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $87.00 target price on shares of Hancock Whitney in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.78.

Hancock Whitney 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.