Dark Forest Capital Management LP Acquires New Position in Hancock Whitney Co. (NASDAQ:HWC)

Dark Forest Capital Management LP purchased a new position in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 31,310 shares of the company's stock, valued at approximately $1,713,000.

Other hedge funds have also bought and sold shares of the company. Grove Bank & Trust bought a new stake in Hancock Whitney during the fourth quarter worth about $31,000. R Squared Ltd bought a new stake in shares of Hancock Whitney during the 4th quarter worth approximately $49,000. GeoWealth Management LLC acquired a new stake in shares of Hancock Whitney during the 4th quarter worth approximately $65,000. Parkside Financial Bank & Trust increased its stake in 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 acquiring an additional 169 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Hancock Whitney during the fourth quarter valued at approximately $138,000. 81.22% of the stock is owned by institutional investors.

Insider Activity

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $48.09, for a total value of $40,299.42. Following the transaction, the director now directly owns 23,019 shares in the company, valued at $1,106,983.71. The trade was 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 through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Hancock Whitney Stock Down 0.6 %

Shares of NASDAQ:HWC traded down $0.33 during mid-day trading on Monday, hitting $51.68. 78,175 shares of the company traded hands, compared to its average volume of 580,056. The stock has a 50-day moving average price of $51.66 and a two-hundred day moving average price of $55.15. Hancock Whitney Co. has a 12-month low of $43.60 and a 12-month high of $62.40. The stock has a market cap of $4.45 billion, a P/E ratio of 9.79 and a beta of 0.99. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

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

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be paid a $0.45 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.48%. Hancock Whitney's payout ratio is presently 33.21%.

Analysts Set New Price Targets

HWC has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $70.00 target price (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. StockNews.com raised Hancock Whitney from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. 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 note on Wednesday, April 16th. Stephens dropped their target price on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.56.

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.