Silvercrest Asset Management Group LLC Takes $24.78 Million Position in Hancock Whitney Co. (NASDAQ:HWC)

Silvercrest Asset Management Group LLC acquired a new stake in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 452,764 shares of the company's stock, valued at approximately $24,775,000. Silvercrest Asset Management Group LLC owned approximately 0.53% of Hancock Whitney at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HWC. Grove Bank & Trust bought a new stake in shares of Hancock Whitney during the fourth quarter worth about $31,000. R Squared Ltd acquired a new stake in Hancock Whitney during the 4th quarter worth approximately $49,000. GeoWealth Management LLC acquired a new stake in Hancock Whitney during the 4th quarter worth approximately $65,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Hancock Whitney during the 4th quarter worth approximately $92,000. Finally, Parkside Financial Bank & Trust increased its position in Hancock Whitney by 9.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company's stock valued at $105,000 after acquiring an additional 169 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $48.09, for a total transaction of $40,299.42. Following the transaction, the director now owns 23,019 shares in the company, valued at approximately $1,106,983.71. This represents a 3.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HWC. Piper Sandler reissued an "overweight" rating and issued a $70.00 price objective (up previously from $68.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Stephens decreased their price objective on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Hancock Whitney from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Raymond James reissued a "strong-buy" rating and set a $62.00 target price (down from $72.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.25.

Hancock Whitney Price Performance

Shares of NASDAQ:HWC traded down $0.45 on Tuesday, reaching $56.44. The company's stock had a trading volume of 344,518 shares, compared to its average volume of 594,214. Hancock Whitney Co. has a 52-week low of $43.60 and a 52-week high of $62.40. The company has a market cap of $4.83 billion, a P/E ratio of 10.69 and a beta of 1.05. The company has a 50-day simple moving average of $51.69 and a 200 day simple moving average of $55.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.10. The firm had revenue of $367.50 million during the quarter, compared to analyst estimates of $368.12 million. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. As a group, equities research analysts anticipate that Hancock Whitney Co. will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, June 5th. Hancock Whitney's payout ratio is currently 33.21%.

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.