Hancock Whitney (NASDAQ:HWC) Insider Sells 4,990 Shares of Stock

Hancock Whitney Corporation (NASDAQ:HWC) insider Emory Mayfield, Jr. sold 4,990 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares of the company’s stock, valued at approximately $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hancock Whitney Stock Performance

NASDAQ HWC traded down $0.28 during mid-day trading on Friday, reaching $75.38. 682,114 shares of the stock were exchanged, compared to its average volume of 879,869. The company has a market capitalization of $6.05 billion, a P/E ratio of 14.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50 day moving average is $75.64 and its 200-day moving average is $70.11. Hancock Whitney Corporation has a 1 year low of $54.05 and a 1 year high of $80.13.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. On average, equities research analysts forecast that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

HWC has been the topic of a number of recent analyst reports. Zacks Research downgraded Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Raymond James Financial restated a “strong-buy” rating and issued a $87.00 price objective on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Stephens decreased their target price on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HWC. BlackRock Inc. acquired a new stake in Hancock Whitney in the 2nd quarter worth about $814,839,000. Dimensional Fund Advisors LP raised its holdings in shares of Hancock Whitney by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,790,954 shares of the company’s stock valued at $304,652,000 after acquiring an additional 21,655 shares during the last quarter. State Street Corp lifted its position in shares of Hancock Whitney by 2.9% in the fourth quarter. State Street Corp now owns 4,521,593 shares of the company’s stock valued at $287,935,000 after acquiring an additional 126,367 shares in the last quarter. Channing Capital Management LLC purchased a new position in shares of Hancock Whitney in the fourth quarter valued at approximately $80,246,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Hancock Whitney by 21.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 920,152 shares of the company’s stock worth $58,595,000 after acquiring an additional 162,482 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

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.