Jupiter Topco LLC Buys New Holdings in Hancock Whitney Corporation $HWC

Jupiter Topco LLC purchased a new position in Hancock Whitney Corporation (NASDAQ:HWC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,197 shares of the company’s stock, valued at approximately $2,556,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HWC. Amundi acquired a new stake in shares of Hancock Whitney in the 1st quarter valued at $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Hancock Whitney by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock worth $2,710,000 after purchasing an additional 2,255 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Hancock Whitney by 22.9% during the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock worth $197,000 after purchasing an additional 700 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Hancock Whitney by 4.2% in 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 valued at $15,078,000 after buying an additional 11,551 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Hancock Whitney by 951.9% in the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock valued at $6,494,000 after buying an additional 112,042 shares during the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HWC. Citigroup reaffirmed a “buy” rating on shares of Hancock Whitney in a report on Thursday, July 23rd. Zacks Research downgraded Hancock Whitney from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen raised Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Hovde Group cut Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 target price for the company. in a research note on Friday, June 12th. Finally, Piper Sandler restated an “overweight” rating and set a $87.00 target price on shares of Hancock Whitney in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.78.

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 value of $1,728,828.92. Following the completion of the sale, the chief financial officer directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the completion of the sale, the insider directly 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. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by insiders.

Hancock Whitney Trading Up 2.2%

NASDAQ HWC opened at $74.84 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s fifty day moving average price is $76.28 and its 200 day moving average price is $70.26. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 14.67 and a beta of 0.94. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $80.13.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The firm had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million. During the same period in the previous year, the company earned $1.37 earnings per share. Hancock Whitney’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Hancock Whitney Corporation will post 6.44 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. Hancock Whitney’s payout ratio is 39.22%.

About Hancock Whitney

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.