Spouting Rock Asset Management LLC Grows Position in Hancock Whitney Co. (NASDAQ:HWC)

Spouting Rock Asset Management LLC boosted its stake in Hancock Whitney Co. (NASDAQ:HWCFree Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,444 shares of the company’s stock after purchasing an additional 3,346 shares during the quarter. Spouting Rock Asset Management LLC’s holdings in Hancock Whitney were worth $1,188,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in Hancock Whitney during the 4th quarter valued at $29,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Hancock Whitney during the fourth quarter worth $49,000. Quadrant Capital Group LLC raised its holdings 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 during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Hancock Whitney by 155.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,714 shares of the company’s stock worth $83,000 after purchasing an additional 1,044 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Hancock Whitney by 32.4% during the fourth quarter. Blue Trust Inc. now owns 2,569 shares of the company’s stock worth $125,000 after purchasing an additional 628 shares during the period. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Hancock Whitney Stock Down 2.2 %

Shares of NASDAQ HWC traded down $0.97 during mid-day trading on Friday, reaching $43.95. The company had a trading volume of 382,408 shares, compared to its average volume of 475,157. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 10.47 and a beta of 1.28. The stock has a fifty day moving average of $45.88 and a two-hundred day moving average of $45.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. Hancock Whitney Co. has a 12-month low of $32.16 and a 12-month high of $49.65.

Hancock Whitney (NASDAQ:HWCGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.10. The firm had revenue of $354.02 million for the quarter, compared to analyst estimates of $353.15 million. Hancock Whitney had a net margin of 19.07% and a return on equity of 11.89%. As a group, equities research analysts expect that Hancock Whitney Co. will post 4.88 EPS for the current year.

Hancock Whitney Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, June 5th will be given a $0.40 dividend. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.64%. Hancock Whitney’s dividend payout ratio (DPR) is currently 37.30%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $52.00 target price (down from $55.00) on shares of Hancock Whitney in a report on Wednesday, April 17th. Citigroup increased their price objective 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 reaffirmed an “equal weight” rating and issued a $50.00 price objective on shares of Hancock Whitney in a report on Wednesday, April 17th. Keefe, Bruyette & Woods raised shares of Hancock Whitney from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $55.00 in a report on Friday, May 31st. Finally, DA Davidson increased their price objective on shares of Hancock Whitney from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Hancock Whitney has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Read Our Latest Stock Analysis on HWC

Hancock Whitney Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hancock Whitney (NASDAQ:HWC)

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