Hancock Whitney Corporation (NASDAQ:HWC) Receives $83.78 Average PT from Analysts

Shares of Hancock Whitney Corporation (NASDAQ:HWC) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $83.7778.

Several research firms have issued reports on HWC. Citigroup restated a “buy” rating on shares of Hancock Whitney in a report on Thursday, July 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $87.00 price target on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Barclays lifted their price target on shares of Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. DA Davidson upped their price target on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $76.13 on Friday. The firm has a 50-day moving average of $75.55 and a two-hundred day moving average of $70.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $6.11 billion, a P/E ratio of 14.93 and a beta of 0.95. Hancock Whitney has a 1-year low of $54.05 and a 1-year high of $80.13.

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. The business had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. On average, research analysts expect that Hancock Whitney will post 6.44 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s dividend payout ratio is 39.22%.

Insider Transactions at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the transaction, the director owned 25,066 shares of the company’s stock, valued at approximately $1,683,432.56. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney 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 completion of the transaction, the chief financial officer owned 44,160 shares of the company’s stock, valued at $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Penn Capital Management Company LLC increased its holdings in shares of Hancock Whitney by 44.6% in the 2nd quarter. Penn Capital Management Company LLC now owns 272,472 shares of the company’s stock valued at $20,381,000 after acquiring an additional 84,047 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Hancock Whitney by 55.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,420 shares of the company’s stock worth $22,821,000 after purchasing an additional 108,723 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Hancock Whitney by 89.9% in the second quarter. Hsbc Holdings PLC now owns 40,744 shares of the company’s stock worth $3,051,000 after purchasing an additional 19,287 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Hancock Whitney in the second quarter worth $396,000. Finally, Empowered Funds LLC bought a new stake in Hancock Whitney during the second quarter valued at $231,000. Institutional investors own 81.22% 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.