Hancock Whitney (NASDAQ:HWC) Reaches New 52-Week High – Here’s Why

Hancock Whitney Corporation (NASDAQ:HWC) hit a new 52-week high on Tuesday . The company traded as high as $71.50 and last traded at $70.9860, with a volume of 259923 shares trading hands. The stock had previously closed at $69.74.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HWC. DA Davidson lifted their price target on shares of Hancock Whitney from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Raymond James Financial increased their target price on Hancock Whitney from $72.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 7th. Wall Street Zen raised Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Finally, Barclays started coverage on shares of Hancock Whitney in a report on Wednesday, December 17th. They set an “overweight” rating and a $76.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $75.25.

Hancock Whitney Stock Performance

The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 12.59 and a beta of 1.05. The company has a 50-day moving average price of $65.69 and a 200-day moving average price of $62.18. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, January 20th. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. Hancock Whitney had a return on equity of 11.16% and a net margin of 24.05%.The firm had revenue of $81.55 million for the quarter, compared to analysts’ expectations of $391.63 million. During the same period last year, the firm earned $1.40 EPS. As a group, equities research analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be given a $0.50 dividend. The ex-dividend date is Thursday, March 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.8%. This is a boost from Hancock Whitney’s previous quarterly dividend of $0.45. Hancock Whitney’s payout ratio is currently 35.21%.

Insider Buying and Selling

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $68.57, for a total transaction of $358,415.39. Following the sale, the insider directly owned 33,301 shares in the company, valued at approximately $2,283,449.57. The trade was a 13.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.91% of the company’s stock.

Institutional Trading of Hancock Whitney

Hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC increased its holdings in shares of Hancock Whitney by 929.5% in the second quarter. True Wealth Design LLC now owns 453 shares of the company’s stock valued at $26,000 after buying an additional 409 shares in the last quarter. Torren Management LLC acquired a new position in shares of Hancock Whitney in the 4th quarter worth $32,000. IFP Advisors Inc raised its position in shares of Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after purchasing an additional 253 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hancock Whitney in the 3rd quarter valued at $45,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Hancock Whitney by 6,107.7% in the 2nd 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 period. 81.22% of the stock is currently owned by institutional investors.

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.