Hancock Whitney (NASDAQ:HWC) Price Target Cut to $56.00 by Analysts at Truist Financial

Hancock Whitney (NASDAQ:HWC) had its target price cut by Truist Financial from $57.00 to $56.00 in a research report released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently commented on HWC. Jefferies Financial Group dropped their price objective on Hancock Whitney from $48.00 to $47.00 and set a hold rating on the stock in a research note on Wednesday, July 3rd. Hovde Group boosted their price objective on shares of Hancock Whitney from $55.00 to $62.00 and gave the company an outperform rating in a research report on Wednesday, July 17th. DA Davidson increased their target price on Hancock Whitney from $57.00 to $63.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Piper Sandler lifted their price target on Hancock Whitney from $52.00 to $62.00 and gave the company an overweight rating in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods upped their price objective on Hancock Whitney from $55.00 to $60.00 and gave the stock an outperform 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 stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $56.67.

Hancock Whitney Stock Down 0.2 %

Shares of NASDAQ:HWC opened at $51.35 on Friday. The company has a 50 day moving average of $51.55 and a 200-day moving average of $47.68. Hancock Whitney has a one year low of $32.16 and a one year high of $57.78. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 11.97 and a beta of 1.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings data on Tuesday, July 16th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.11. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The business had revenue of $359.60 million during the quarter, compared to analysts’ expectations of $359.11 million. During the same period in the previous year, the firm earned $1.35 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast that Hancock Whitney will post 5.17 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.12%. Hancock Whitney’s dividend payout ratio is 37.30%.

Insider Activity at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $57.03, for a total transaction of $117,082.59. Following the completion of the transaction, the director now directly owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hancock Whitney

A number of institutional investors have recently added to or reduced their stakes in HWC. Clifford Capital Partners LLC grew its position in shares of Hancock Whitney by 12.2% in the 2nd quarter. Clifford Capital Partners LLC now owns 8,434 shares of the company’s stock valued at $403,000 after acquiring an additional 916 shares during the period. Sanctuary Advisors LLC bought a new position in Hancock Whitney during the second quarter worth about $813,000. Creative Planning increased its position in Hancock Whitney by 31.2% during the second quarter. Creative Planning now owns 16,241 shares of the company’s stock worth $777,000 after buying an additional 3,865 shares during the last quarter. Algert Global LLC raised its stake in Hancock Whitney by 47.8% in the second quarter. Algert Global LLC now owns 137,020 shares of the company’s stock valued at $6,554,000 after buying an additional 44,344 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Hancock Whitney by 20.9% in the second quarter. Millennium Management LLC now owns 780,882 shares of the company’s stock valued at $37,350,000 after buying an additional 135,076 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

About Hancock Whitney

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.