Emory Mayfield Jr Sells 4,990 Shares of Hancock Whitney (NASDAQ:HWC) Stock

Key Points

• Insider sale: Emory Mayfield Jr. sold 4,990 Hancock Whitney shares at an average price of $76.40, totaling $381,236 and reducing his ownership by 24.28%.
• Financial performance: Hancock Whitney reported quarterly EPS of $1.55, in line with estimates, while revenue of $403.57 million exceeded forecasts and rose 6.9% year over year.
• Dividend and outlook: The company declared a quarterly dividend of $0.50 per share, representing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.78.

Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) insider Emory Mayfield, Jr. sold 4,990 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the transaction, the insider owned 15,565 shares in the company, valued at approximately $1,189,166. The trade was a 24.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hancock Whitney Stock Down 0.4%

NASDAQ HWC traded down $0.28 during trading on Friday, reaching $75.38. 682,114 shares of the company's stock traded hands, compared to its average volume of 879,869. Hancock Whitney Corporation has a 12-month low of $54.05 and a 12-month high of $80.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 14.78 and a beta of 0.95. The company's 50 day simple moving average is $75.64 and its two-hundred day simple moving average is $70.11.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. The company had revenue of $403.57 million during the quarter, compared to the consensus estimate of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. Hancock Whitney's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. As a group, sell-side analysts forecast that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, September 4th. Hancock Whitney's dividend payout ratio is 39.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $6,070,000. Bank of America Corp DE grew its holdings in Hancock Whitney by 16.4% during the first quarter. Bank of America Corp DE now owns 807,585 shares of the company's stock worth $51,354,000 after acquiring an additional 114,029 shares during the period. Quantinno Capital Management LP raised its position in Hancock Whitney by 139.9% during the first quarter. Quantinno Capital Management LP now owns 47,921 shares of the company's stock valued at $3,047,000 after acquiring an additional 27,942 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Hancock Whitney during the first quarter valued at approximately $1,714,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Hancock Whitney by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,790,954 shares of the company's stock valued at $304,652,000 after acquiring an additional 21,655 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on HWC. DA Davidson lifted their target price on Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Raymond James Financial restated a "strong-buy" rating and issued a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. Zacks Research downgraded shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Hancock Whitney in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.78.

Hancock Whitney Company Profile

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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