Squarepoint Ops LLC Acquires 176,389 Shares of Hancock Whitney Corporation $HWC

Squarepoint Ops LLC increased its holdings in Hancock Whitney Corporation (NASDAQ:HWC) by 84.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 384,570 shares of the company’s stock after buying an additional 176,389 shares during the quarter. Squarepoint Ops LLC’s holdings in Hancock Whitney were worth $28,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amundi acquired a new position in shares of Hancock Whitney in the 1st quarter worth approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 valued at $2,710,000 after acquiring an additional 2,255 shares during the period. NewEdge Advisors LLC grew its position in Hancock Whitney by 22.9% in the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock valued at $197,000 after acquiring an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 worth $15,078,000 after acquiring an additional 11,551 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of 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 acquiring an additional 112,042 shares during the period. Institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Down 1.7%

Shares of NASDAQ HWC opened at $74.55 on Wednesday. Hancock Whitney Corporation has a 1 year low of $54.05 and a 1 year high of $80.13. The firm’s 50-day moving average is $76.35 and its 200-day moving average is $70.39. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.98 billion, a PE ratio of 14.62 and a beta of 0.94.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The company had revenue of $403.57 million for the quarter, compared to the consensus estimate of $398.89 million. During the same quarter in the prior year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Hancock Whitney Corporation will post 6.44 EPS for the current year.

Hancock Whitney Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Hovde Group downgraded shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price target for the company. in a report on Friday, June 12th. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price objective on shares of Hancock Whitney in a report on Wednesday, July 22nd. Stephens cut their target price on shares of Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Zacks Research downgraded Hancock Whitney from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Benchmark increased their price target on Hancock Whitney from $84.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.78.

Insider Activity at Hancock Whitney

In other news, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the transaction, the insider owned 15,565 shares in the company, valued at $1,189,166. The trade was a 24.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Achary sold 22,694 shares of the business’s 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 completion of the sale, the chief financial officer directly owned 44,160 shares in the company, valued at $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is owned by company insiders.

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.