Hancock Whitney (NASDAQ:HWC) Sets New 1-Year High at $50.39

Hancock Whitney Co. (NASDAQ:HWC)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.39 and last traded at $50.09, with a volume of 11408 shares traded. The stock had previously closed at $50.02.

HWC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Hancock Whitney from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Monday, April 26th. TheStreet upgraded Hancock Whitney from a “c” rating to a “b” rating in a research note on Tuesday, April 20th. Finally, Raymond James increased their price objective on Hancock Whitney from $51.00 to $52.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Hancock Whitney presently has a consensus rating of “Buy” and a consensus target price of $36.14.

The company has a 50-day moving average of $44.51 and a 200-day moving average of $38.05. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -70.45, a P/E/G ratio of 1.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.80 and a current ratio of 0.80.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings data on Monday, April 19th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.24. Hancock Whitney had a negative return on equity of 1.58% and a negative net margin of 4.01%. The business had revenue of $321.68 million for the quarter, compared to the consensus estimate of $314.28 million. During the same period in the prior year, the business earned ($1.28) earnings per share. As a group, analysts expect that Hancock Whitney Co. will post -0.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 8th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.15%. Hancock Whitney’s payout ratio is 26.93%.

In other news, Director Christine L. Pickering sold 615 shares of the business’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $49.54, for a total value of $30,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cecil W. Knight, Jr. sold 2,300 shares of Hancock Whitney stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $40.88, for a total value of $94,024.00. Following the completion of the transaction, the insider now owns 27,528 shares of the company’s stock, valued at $1,125,344.64. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Hancock Whitney during the 4th quarter valued at approximately $42,985,000. BlackRock Inc. boosted its holdings in shares of Hancock Whitney by 5.3% in the 1st quarter. BlackRock Inc. now owns 11,140,885 shares of the company’s stock valued at $468,028,000 after buying an additional 561,093 shares during the period. Rothschild & Co. Asset Management US Inc. grew its position in shares of Hancock Whitney by 104.8% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 842,544 shares of the company’s stock valued at $35,395,000 after buying an additional 431,165 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hancock Whitney by 33.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,090,183 shares of the company’s stock worth $37,089,000 after acquiring an additional 271,454 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Hancock Whitney by 341.8% during the fourth quarter. Russell Investments Group Ltd. now owns 321,064 shares of the company’s stock worth $10,918,000 after acquiring an additional 248,385 shares during the period. Institutional investors own 73.41% of the company’s stock.

About Hancock Whitney (NASDAQ:HWC)

Hancock Whitney Corporation operates as the bank holding company for Hancock Whitney Bank that provides a range of banking products and services to commercial, small business, and retail customers. The company accepts various deposit products, such as noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.

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