Basswood Capital Management L.L.C. Decreases Stock Position in Hancock Whitney Co. (NASDAQ:HWC)

Basswood Capital Management L.L.C. cut its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 45.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,577 shares of the company's stock after selling 274,662 shares during the quarter. Basswood Capital Management L.L.C. owned about 0.39% of Hancock Whitney worth $18,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust acquired a new position in Hancock Whitney in the 4th quarter valued at about $31,000. R Squared Ltd purchased a new stake in Hancock Whitney in the fourth quarter valued at approximately $49,000. GeoWealth Management LLC acquired a new position in Hancock Whitney during the 4th quarter worth about $65,000. Parkside Financial Bank & Trust boosted its stake in shares of Hancock Whitney by 9.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company's stock valued at $105,000 after purchasing an additional 169 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in Hancock Whitney in the 4th quarter valued at approximately $138,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Stock Up 2.6 %

Shares of Hancock Whitney stock opened at $54.08 on Friday. The company has a market cap of $4.66 billion, a P/E ratio of 10.24 and a beta of 0.99. The firm has a fifty day moving average of $51.22 and a two-hundred day moving average of $55.12. 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 Co. has a one year low of $43.60 and a one year high of $62.40.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. The firm had revenue of $367.50 million for the quarter, compared to the consensus estimate of $368.12 million. Hancock Whitney had a return on equity of 11.56% and a net margin of 22.40%. On average, analysts forecast that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, June 5th. Hancock Whitney's dividend payout ratio is currently 33.21%.

Analyst Ratings Changes

HWC has been the topic of a number of analyst reports. DA Davidson reduced their price target on Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their target price 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. Raymond James reissued a "strong-buy" rating and set a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $70.00 target price (up from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Finally, StockNews.com raised Hancock Whitney from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.56.

Insider Activity

In related news, Director Christine L. Pickering sold 838 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $48.09, for a total transaction of $40,299.42. Following the sale, the director now owns 23,019 shares of the company's stock, valued at $1,106,983.71. This trade represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.91% of the company's stock.

About Hancock Whitney

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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