Hancock Whitney Corporation (NASDAQ:HWC) Stock Has Average Target Price of $84.22 According to Analysts

Hancock Whitney Corporation (NASDAQ:HWC) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $84.56.

A number of brokerages recently issued reports on HWC. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. Raymond James Financial restated a “strong-buy” rating and issued a $87.00 price target on shares of Hancock Whitney in a research report on Wednesday, July 22nd. 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 raised their price target on Hancock Whitney from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, October 5th. Finally, Citigroup reduced their price objective on shares of Hancock Whitney from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $72.40 on Friday. 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 has a one year low of $54.05 and a one year high of $80.13. The company has a market cap of $5.81 billion, a PE ratio of 14.20 and a beta of 0.97. The business has a 50-day simple moving average of $75.18 and a 200-day simple moving average of $71.74.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $403.57 million for the quarter, compared to the consensus estimate of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts forecast that Hancock Whitney will post 6.45 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were given a $0.50 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.8%. Hancock Whitney’s payout ratio is currently 39.22%.

Insider Activity at Hancock Whitney

In related news, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney 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 sale, the chief financial officer owned 44,160 shares in the company, valued at approximately $3,364,108.80. This trade represents a 33.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the sale, the insider owned 15,565 shares of the company’s stock, valued at approximately $1,189,166. This trade represents a 24.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hancock Whitney

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Hancock Whitney in the 2nd quarter valued at about $814,839,000. Norges Bank acquired a new stake in shares of Hancock Whitney in the fourth quarter valued at about $57,463,000. Bank of New York Mellon Corp purchased a new stake in shares of Hancock Whitney during the second quarter valued at approximately $55,605,000. Bank of America Corp DE purchased a new stake in Hancock Whitney during the 2nd quarter worth $52,973,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Hancock Whitney during the second quarter worth about $40,112,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. Founded in 1883, the bank has grown from a community banking institution in coastal Mississippi into a regional bank serving individuals, businesses and institutions across the Gulf South.

Hancock Whitney provides personal and business deposit accounts, consumer and commercial loans, mortgages, credit and debit cards, online and mobile banking, and treasury management services.