Hancock Whitney Co. (NASDAQ:HWC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Hancock Whitney Co. (NASDAQ:HWC) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $56.67.

A number of analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Piper Sandler boosted their target price on Hancock Whitney from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Jefferies Financial Group dropped their price target on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Truist Financial decreased their price objective on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a report on Friday. Finally, DA Davidson raised their target price on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

Hancock Whitney Price Performance

HWC opened at $51.43 on Friday. Hancock Whitney has a 1 year low of $32.16 and a 1 year high of $57.78. The stock has a 50-day moving average price of $51.55 and a 200-day moving average price of $47.59. The firm has a market cap of $4.46 billion, a PE ratio of 11.99 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 issued its earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.11. The firm had revenue of $359.60 million for the quarter, compared to the consensus estimate of $359.11 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Sell-side analysts predict that Hancock Whitney will post 5.17 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a $0.40 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.60 annualized dividend and a yield of 3.11%. Hancock Whitney’s payout ratio is presently 37.30%.

Insider Transactions at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total value of $117,082.59. Following the transaction, the director now directly owns 22,554 shares of the company’s stock, valued at approximately $1,286,254.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

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

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.