Oliver Luxxe Assets LLC Has $1.86 Million Holdings in Hancock Whitney Corporation $HWC

Oliver Luxxe Assets LLC lessened its position in Hancock Whitney Corporation (NASDAQ:HWC) by 37.8% in the 2nd quarter, Holdings Channel reports. The fund owned 24,901 shares of the company’s stock after selling 15,142 shares during the period. Oliver Luxxe Assets LLC’s holdings in Hancock Whitney were worth $1,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Channing Capital Management LLC purchased a new stake in shares of Hancock Whitney in the fourth quarter valued at $80,246,000. Norges Bank acquired a new position in Hancock Whitney during the fourth quarter valued at $57,463,000. Northwestern Mutual Wealth Management Co. lifted its stake in Hancock Whitney by 18,614.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 535,039 shares of the company’s stock worth $34,071,000 after acquiring an additional 532,180 shares in the last quarter. UBS Group AG lifted its stake in Hancock Whitney by 134.3% in the 3rd quarter. UBS Group AG now owns 909,460 shares of the company’s stock worth $56,941,000 after acquiring an additional 521,261 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in Hancock Whitney during the 1st quarter worth about $23,071,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hancock Whitney

In other news, CFO Michael M. Achary sold 22,694 shares of the firm’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 sale, the chief financial officer directly owned 44,160 shares of the company’s stock, valued at approximately $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine L. Pickering sold 417 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total value of $28,005.72. Following the completion of the sale, the director directly owned 25,066 shares in the company, valued at $1,683,432.56. This trade represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.92% of the company’s stock.

Hancock Whitney Stock Up 0.3%

HWC opened at $77.60 on Friday. The business has a 50 day moving average price of $74.05 and a 200 day moving average price of $69.47. Hancock Whitney Corporation has a twelve month low of $54.05 and a twelve month high of $79.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.79 and a current ratio of 0.80. The firm has a market cap of $6.30 billion, a P/E ratio of 15.22 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $398.89 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts forecast 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. Investors of record on Friday, September 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 4th. Hancock Whitney’s dividend payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. DA Davidson lifted their target price on Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings lowered shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Piper Sandler restated an “overweight” rating and set a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. Hovde Group downgraded shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price objective on the stock. in a research report on Friday, June 12th. Finally, Barclays boosted their price objective on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.78.

Hancock Whitney Company 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.