Hancock Whitney (NASDAQ:HWC) Price Target Lowered to $56.00 at Truist Financial

Hancock Whitney (NASDAQ:HWC) had its price target reduced by Truist Financial from $57.00 to $56.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group cut their price target on Hancock Whitney from $48.00 to $47.00 and set a hold rating for the company in a research note on Wednesday, July 3rd. Piper Sandler boosted their target price on shares of Hancock Whitney from $52.00 to $62.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price target on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an outperform rating in a report on Wednesday, July 17th. DA Davidson lifted their price objective on shares of Hancock Whitney from $57.00 to $63.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Finally, Hovde Group increased their target price on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an outperform rating in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $56.67.

Hancock Whitney Price Performance

NASDAQ HWC opened at $51.35 on Friday. The company has a 50 day simple moving average of $51.55 and a 200-day simple moving average of $47.68. Hancock Whitney has a 52-week low of $32.16 and a 52-week high of $57.78. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.97 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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $359.11 million. During the same quarter last year, the business posted $1.35 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts predict that Hancock Whitney will post 5.17 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.12%. Hancock Whitney’s dividend payout ratio is presently 37.30%.

Insider Buying and Selling at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the transaction, the director now owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

A number of institutional investors have recently added to or reduced their stakes in HWC. Avantax Advisory Services Inc. bought a new position in Hancock Whitney in the fourth quarter worth $386,000. Quadrant Capital Group LLC increased its position in shares of Hancock Whitney by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,260 shares of the company’s stock worth $61,000 after purchasing an additional 328 shares in the last quarter. Norges Bank bought a new position in Hancock Whitney during the 4th quarter valued at about $46,846,000. Corient Private Wealth LLC raised its stake in shares of Hancock Whitney by 17.1% in the fourth quarter. Corient Private Wealth LLC now owns 15,741 shares of the company’s stock valued at $765,000 after acquiring an additional 2,293 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Hancock Whitney in the fourth quarter worth $357,000. 81.22% of the stock is owned by institutional investors and hedge funds.

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.