Retirement Systems of Alabama cut its stake in Hancock Whitney Co. (NASDAQ:HWC – Free Report) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,889 shares of the company’s stock after selling 2,035 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Hancock Whitney worth $5,367,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of HWC. Victory Capital Management Inc. grew its stake in Hancock Whitney by 707.2% in the second quarter. Victory Capital Management Inc. now owns 576,264 shares of the company’s stock valued at $27,563,000 after acquiring an additional 504,873 shares during the period. AQR Capital Management LLC grew its position in shares of Hancock Whitney by 213.7% in the 2nd quarter. AQR Capital Management LLC now owns 735,790 shares of the company’s stock valued at $34,663,000 after purchasing an additional 501,259 shares during the period. Hancock Whitney Corp increased its stake in Hancock Whitney by 30.9% during the 2nd quarter. Hancock Whitney Corp now owns 1,069,223 shares of the company’s stock worth $51,141,000 after purchasing an additional 252,473 shares in the last quarter. American Century Companies Inc. increased its stake in Hancock Whitney by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock worth $67,015,000 after purchasing an additional 237,526 shares in the last quarter. Finally, Barclays PLC raised its holdings in Hancock Whitney by 149.2% during the 3rd quarter. Barclays PLC now owns 321,196 shares of the company’s stock worth $16,435,000 after buying an additional 192,295 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
HWC has been the subject of several research analyst reports. DA Davidson upped their price target on shares of Hancock Whitney from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Stephens raised shares of Hancock Whitney from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Truist Financial dropped their price target on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods upped their price objective on Hancock Whitney from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hancock Whitney currently has an average rating of “Moderate Buy” and an average target price of $58.00.
Hancock Whitney Stock Down 5.8 %
HWC stock opened at $53.69 on Thursday. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 12.04 and a beta of 1.27. Hancock Whitney Co. has a twelve month low of $41.19 and a twelve month high of $62.40. The business has a 50 day moving average price of $56.29 and a two-hundred day moving average price of $51.95. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.06.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last released its earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Hancock Whitney had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $525.37 million during the quarter, compared to analysts’ expectations of $363.54 million. During the same period last year, the business earned $1.12 earnings per share. Analysts anticipate that Hancock Whitney Co. will post 5.19 EPS for the current fiscal year.
Hancock Whitney Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.98%. Hancock Whitney’s dividend payout ratio is presently 35.87%.
Insider Activity
In other Hancock Whitney news, CFO Michael M. Achary sold 8,431 shares of Hancock Whitney stock in a transaction on Friday, October 18th. The shares were sold at an average price of $52.55, for a total transaction of $443,049.05. Following the completion of the transaction, the chief financial officer now directly owns 54,380 shares of the company’s stock, valued at $2,857,669. The trade was a 13.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carleton Richard Wilkins sold 800 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $50.95, for a total transaction of $40,760.00. Following the completion of the transaction, the director now directly owns 15,900 shares in the company, valued at $810,105. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,994 shares of company stock valued at $1,593,710. 1.10% of the stock is owned by company insiders.
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.
Featured Articles
- Five stocks we like better than Hancock Whitney
- Health Care Stocks Explained: Why You Might Want to Invest
- Novo Nordisk: A New Boost for GLP-1 Sales on the Horizon
- How to Calculate Inflation Rate
- Why Now Is the Ultimate Time to Invest in Oil Stocks
- Expert Stock Trading Psychology Tips
- Q4’s Most Upgraded Stocks: Promising Buys for 2025
Receive News & Ratings for Hancock Whitney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hancock Whitney and related companies with MarketBeat.com's FREE daily email newsletter.