The Manufacturers Life Insurance Company Trims Position in Hancock Whitney Corporation $HWC

The Manufacturers Life Insurance Company decreased its position in Hancock Whitney Corporation (NASDAQ:HWC) by 2.3% during the first quarter, Holdings Channel reports. The fund owned 542,254 shares of the company’s stock after selling 12,962 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hancock Whitney were worth $34,482,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of HWC. Amundi purchased a new stake in shares of Hancock Whitney during the 1st quarter valued at about $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Hancock Whitney by 4.6% in the first 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 boosted its holdings in shares of Hancock Whitney by 22.9% in the first 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 grew its position in Hancock Whitney by 4.2% during 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 period. Finally, Jane Street Group LLC grew its position in Hancock Whitney by 951.9% during 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 period. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Trading Up 0.9%

Shares of NASDAQ:HWC opened at $77.00 on Friday. The stock has a 50 day moving average of $73.05 and a 200 day moving average of $69.12. The company has a market cap of $6.25 billion, a PE ratio of 15.10 and a beta of 0.95. Hancock Whitney Corporation has a 12-month low of $54.05 and a 12-month high of $79.36. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWC) last released its earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company had revenue of $403.57 million for the quarter, compared to analysts’ expectations of $398.89 million. During the same quarter last year, the business earned $1.37 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Hancock Whitney Corporation will post 6.45 EPS for the current year.

Hancock Whitney Dividend Announcement

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

Wall Street Analysts Forecast Growth

HWC has been the topic of several recent research reports. Barclays increased their price target on shares of Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen downgraded shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Citigroup restated a “buy” rating on shares of Hancock Whitney in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods raised their target price on Hancock Whitney from $78.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.56.

Insiders Place Their Bets

In related news, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney stock in a transaction on Friday, July 24th. The shares were 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. The trade was a 33.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine L. Pickering sold 417 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the completion of the transaction, the director directly owned 25,066 shares of the company’s stock, valued at $1,683,432.56. This represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company’s stock.

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.