Systematic Financial Management LP Invests $6.06 Million in Hancock Whitney Corporation $HWC

Systematic Financial Management LP bought a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 105,525 shares of the company’s stock, valued at approximately $6,057,000. Systematic Financial Management LP owned about 0.12% of Hancock Whitney at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its position in shares of Hancock Whitney by 929.5% in the 2nd quarter. True Wealth Design LLC now owns 453 shares of the company’s stock worth $26,000 after buying an additional 409 shares during the last quarter. Brooklyn Investment Group bought a new position in Hancock Whitney in the first quarter worth about $31,000. Virtus Advisers LLC acquired a new position in Hancock Whitney in the first quarter valued at approximately $41,000. Hantz Financial Services Inc. grew its holdings in shares of Hancock Whitney by 6,107.7% during the second quarter. Hantz Financial Services Inc. now owns 807 shares of the company’s stock valued at $46,000 after purchasing an additional 794 shares during the last quarter. Finally, Amundi bought a new position in shares of Hancock Whitney during the first quarter valued at approximately $50,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on HWC shares. Wall Street Zen downgraded Hancock Whitney from a “hold” rating to a “sell” rating in a report on Monday, August 11th. Citigroup increased their target price on Hancock Whitney from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Raymond James Financial reduced their price target on shares of Hancock Whitney from $73.00 to $72.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price target on shares of Hancock Whitney from $64.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hancock Whitney in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $70.14.

Hancock Whitney Price Performance

NASDAQ:HWC opened at $62.93 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $59.27 and its 200 day moving average price is $59.19. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $64.66. The firm has a market cap of $5.26 billion, a P/E ratio of 11.26 and a beta of 1.10.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. Hancock Whitney had a net margin of 23.99% and a return on equity of 11.29%. The company had revenue of $175.56 million during the quarter, compared to analyst estimates of $391.32 million. During the same quarter last year, the firm posted $1.33 EPS. As a group, sell-side analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be given a $0.45 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.80 annualized dividend and a yield of 2.9%. Hancock Whitney’s payout ratio is 32.20%.

Insider Activity

In other news, CFO Michael M. Achary sold 9,894 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $54.86, for a total transaction of $542,784.84. Following the completion of the sale, the chief financial officer owned 55,733 shares in the company, valued at approximately $3,057,512.38. This represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.