Hancock Whitney Co. (NASDAQ:HWC) Holdings Raised by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lifted its holdings in Hancock Whitney Co. (NASDAQ:HWC) by 35.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,103 shares of the company’s stock after purchasing an additional 26,705 shares during the period. Texas Permanent School Fund Corp owned 0.12% of Hancock Whitney worth $4,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Hancock Whitney by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,226,780 shares of the company’s stock valued at $424,801,000 after purchasing an additional 34,152 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Hancock Whitney by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,087,610 shares of the company’s stock valued at $52,847,000 after purchasing an additional 48,174 shares during the last quarter. Norges Bank acquired a new stake in shares of Hancock Whitney in the 4th quarter valued at $46,846,000. Wasatch Advisors LP lifted its stake in shares of Hancock Whitney by 3.7% in the 4th quarter. Wasatch Advisors LP now owns 710,251 shares of the company’s stock valued at $34,511,000 after purchasing an additional 25,215 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Hancock Whitney by 0.5% in the 1st quarter. Boston Partners now owns 624,417 shares of the company’s stock valued at $28,811,000 after purchasing an additional 3,313 shares during the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of Hancock Whitney from $49.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. DA Davidson lifted 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. Jefferies Financial Group dropped their target price 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. Hovde Group lifted their target price on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler lifted their target price on shares of Hancock Whitney from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.78.

Insider Activity at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the sale, the director now owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $48.61 on Friday. The firm’s 50-day moving average is $51.15 and its 200-day moving average is $47.26. Hancock Whitney Co. has a 52-week low of $32.16 and a 52-week high of $57.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 11.33 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings data 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. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The company had revenue of $359.60 million for the quarter, compared to the consensus estimate of $359.11 million. During the same quarter in the previous year, the firm posted $1.35 EPS. The business’s revenue was up .7% compared to the same quarter last year. Equities research analysts anticipate that Hancock Whitney Co. will post 5.17 earnings per share for the current year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.29%. Hancock Whitney’s payout ratio is currently 37.30%.

Hancock Whitney 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.