Sei Investments Co. Has $7.50 Million Stock Position in Hancock Whitney Corporation $HWC

Sei Investments Co. cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,980 shares of the company’s stock after selling 7,315 shares during the period. Sei Investments Co.’s holdings in Hancock Whitney were worth $7,502,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Amundi bought a new position in shares of Hancock Whitney in the 1st quarter valued at $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hancock Whitney by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock worth $2,710,000 after buying an additional 2,255 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Hancock Whitney by 22.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock worth $197,000 after buying an additional 700 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 in the last quarter. Finally, Jane Street Group LLC boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Hancock Whitney Stock Performance

Shares of HWC stock opened at $77.00 on Monday. Hancock Whitney Corporation has a twelve month low of $54.05 and a twelve month high of $79.36. The stock’s fifty day simple moving average is $73.05 and its 200 day simple moving average is $69.12. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.25 billion, a P/E ratio of 15.10 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The firm had revenue of $403.57 million during the quarter, compared to the consensus estimate of $398.89 million. During the same period last year, the company earned $1.37 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Hancock Whitney Corporation will post 6.45 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 4th. Hancock Whitney’s payout ratio is presently 39.22%.

Insider Buying and Selling

In other news, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the transaction, the director owned 25,066 shares in the company, valued at approximately $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney 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. This trade represents a 33.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HWC. Barclays lifted their target price on Hancock Whitney from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Citigroup restated a “buy” rating on shares of Hancock Whitney in a research note on Thursday, July 23rd. DA Davidson lifted their price target on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. Weiss Ratings cut shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective on shares of Hancock Whitney in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.56.

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.