Hancock Whitney Co. (NASDAQ:HWC) Receives $51.88 Average Price Target from Brokerages

Hancock Whitney Co. (NASDAQ:HWC) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $52.13.

A number of equities analysts have issued reports on the company. StockNews.com upgraded Hancock Whitney from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Citigroup raised their price target on shares of Hancock Whitney from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Stephens reiterated an “equal weight” rating and set a $50.00 price objective on shares of Hancock Whitney in a report on Wednesday, April 17th. Piper Sandler reissued an “overweight” rating and set a $52.00 price objective (down previously from $55.00) on shares of Hancock Whitney in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group decreased their target price on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday.

Insider Activity at Hancock Whitney

In other news, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction on Wednesday, May 1st. The stock was 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 directly owns 58,843 shares in the company, valued at $2,755,029.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Hancock Whitney news, 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 value of $59,306.00. Following the transaction, the director now directly owns 23,982 shares in the company, valued at approximately $1,094,058.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total transaction of $39,516.08. Following the sale, the insider now owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hancock Whitney

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Hancock Whitney during the 4th quarter valued at about $46,846,000. Dimensional Fund Advisors LP raised its holdings in shares of Hancock Whitney by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,749,591 shares of the company’s stock valued at $230,786,000 after acquiring an additional 249,944 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Hancock Whitney by 7.0% during the third quarter. Wellington Management Group LLP now owns 2,184,960 shares of the company’s stock valued at $80,822,000 after acquiring an additional 142,465 shares in the last quarter. Stieven Capital Advisors L.P. boosted its holdings in Hancock Whitney by 60.6% in the first quarter. Stieven Capital Advisors L.P. now owns 357,386 shares of the company’s stock valued at $16,454,000 after acquiring an additional 134,800 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Hancock Whitney by 13.1% during the 3rd quarter. American Century Companies Inc. now owns 832,405 shares of the company’s stock valued at $30,791,000 after purchasing an additional 96,522 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Price Performance

Hancock Whitney stock opened at $46.66 on Monday. The stock has a 50-day moving average price of $46.41 and a two-hundred day moving average price of $45.38. Hancock Whitney has a 12 month low of $32.16 and a 12 month high of $49.65. The company has a market capitalization of $4.04 billion, a PE ratio of 10.88 and a beta of 1.29. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, April 16th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.18 by $0.10. Hancock Whitney had a return on equity of 11.89% and a net margin of 19.07%. The firm had revenue of $354.02 million for the quarter, compared to the consensus estimate of $353.15 million. Analysts expect that Hancock Whitney will post 4.9 EPS for the current year.

Hancock Whitney Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders 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 an increase from Hancock Whitney’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 3.43%. Hancock Whitney’s dividend payout ratio is 37.30%.

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.