Bank of New York Mellon Corp Buys Shares of 744,183 Hancock Whitney Corporation $HWC

Bank of New York Mellon Corp bought a new position in Hancock Whitney Corporation (NASDAQ:HWC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 744,183 shares of the company’s stock, valued at approximately $55,605,000.

A number of other hedge funds have also recently made changes to their positions in HWC. Amundi acquired a new stake in Hancock Whitney in the first quarter valued at $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hancock Whitney by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock valued at $2,710,000 after buying an additional 2,255 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Hancock Whitney by 22.9% in the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock valued at $197,000 after buying an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $15,078,000 after acquiring an additional 11,551 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Hancock Whitney by 951.9% in the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock worth $6,494,000 after acquiring an additional 112,042 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the sale, the insider owned 15,565 shares in the company, valued at approximately $1,189,166. The trade was a 24.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the company’s stock in a transaction 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 owned 44,160 shares in the company, 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. 0.92% of the stock is owned by corporate insiders.

Hancock Whitney Trading Up 0.8%

NASDAQ:HWC opened at $75.23 on Thursday. The firm has a fifty day simple moving average of $75.95 and a two-hundred day simple moving average of $70.19. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $80.13. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.75 and a beta of 0.95. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company had revenue of $403.57 million for the quarter, compared to analysts’ expectations of $398.89 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Analysts expect that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

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 issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. Hancock Whitney’s payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

HWC has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Barclays lifted their price objective on Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Citigroup restated a “buy” rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Benchmark raised their target price on Hancock Whitney from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued 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, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.