Hancock Whitney (NASDAQ:HWC) Sets New 1-Year High at $57.11

Hancock Whitney Co. (NASDAQ:HWC)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $57.11 and last traded at $57.04, with a volume of 98312 shares changing hands. The stock had previously closed at $55.14.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HWC. DA Davidson raised their price target on Hancock Whitney from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup raised their price target on Hancock Whitney from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, May 6th. StockNews.com raised Hancock Whitney from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods raised their price target on Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Truist Financial raised their price objective on Hancock Whitney from $49.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.78.

Hancock Whitney Stock Performance

The business has a 50-day moving average price of $47.48 and a 200-day moving average price of $45.68. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 13.30 and a beta of 1.29. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.11. The business had revenue of $359.60 million for the quarter, compared to the consensus estimate of $359.11 million. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, sell-side analysts forecast that Hancock Whitney Co. will post 5.1 earnings per share for the current year.

Hancock Whitney Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. Hancock Whitney’s payout ratio is 37.30%.

Insider Activity

In other Hancock Whitney news, insider Cecil W. Knight, Jr. sold 844 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the sale, the insider now directly owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Hancock Whitney news, insider Cecil W. Knight, Jr. sold 844 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the transaction, the insider now owns 58,843 shares in the company, valued at $2,755,029.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christine L. Pickering sold 1,300 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $45.62, for a total transaction of $59,306.00. Following the completion of the transaction, the director now owns 23,982 shares of the company’s stock, valued at approximately $1,094,058.84. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Hancock Whitney

Several institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Systems of Alabama lifted its stake in shares of Hancock Whitney by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 108,183 shares of the company’s stock valued at $4,981,000 after purchasing an additional 284 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Hancock Whitney by 35.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,260 shares of the company’s stock worth $61,000 after purchasing an additional 328 shares in the last quarter. AlphaMark Advisors LLC boosted its position in Hancock Whitney by 5.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 6,622 shares of the company’s stock valued at $317,000 after buying an additional 356 shares during the period. State of Michigan Retirement System increased its position in shares of Hancock Whitney by 2.4% during the first quarter. State of Michigan Retirement System now owns 21,140 shares of the company’s stock worth $973,000 after acquiring an additional 500 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Hancock Whitney by 5.5% in the second quarter. SG Americas Securities LLC now owns 10,865 shares of the company’s stock valued at $520,000 after acquiring an additional 568 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Company Profile

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.