132,984 Shares in Hancock Whitney Corporation $HWC Bought by Edgestream Partners L.P.

Key Points

• Edgestream Partners initiated a 132,984-share stake in Hancock Whitney, valued at approximately $8.46 million. Institutional investors collectively own 81.22% of the bank’s outstanding shares.
• Analysts maintain a generally positive view, with Hancock Whitney carrying a consensus “Moderate Buy” rating and an average price target of $83.56. Recent target prices range from $74 to $85.
• Hancock Whitney reported quarterly EPS of $1.55, matching estimates, while revenue rose 6.9% year over year to $403.57 million. The stock opened at $76.98, near its 12-month high of $79.36.

Edgestream Partners L.P. bought a new stake in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 132,984 shares of the company's stock, valued at approximately $8,456,000. Edgestream Partners L.P. owned 0.16% of Hancock Whitney as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of HWC. Dimensional Fund Advisors LP raised its position in shares of Hancock Whitney by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,790,954 shares of the company's stock worth $304,652,000 after acquiring an additional 21,655 shares in the last quarter. State Street Corp boosted its position in shares of Hancock Whitney by 2.9% during the 4th quarter. State Street Corp now owns 4,521,593 shares of the company's stock valued at $287,935,000 after purchasing an additional 126,367 shares in the last quarter. Channing Capital Management LLC bought a new stake in shares of Hancock Whitney during the 4th quarter valued at about $80,246,000. Goldman Sachs Group Inc. grew its stake in Hancock Whitney by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 920,152 shares of the company's stock worth $58,595,000 after purchasing an additional 162,482 shares during the period. Finally, UBS Group AG grew its stake in Hancock Whitney by 134.3% during the third quarter. UBS Group AG now owns 909,460 shares of the company's stock worth $56,941,000 after purchasing an additional 521,261 shares during the period. Institutional investors own 81.22% of the company's stock.

Insider Buying and Selling at Hancock Whitney

In related news, Director Christine L. Pickering sold 417 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the transaction, the director directly owned 25,066 shares in the company, valued at approximately $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Achary sold 22,694 shares of the company's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the completion of the sale, the chief financial officer directly owned 44,160 shares of the company's stock, valued at $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

HWC has been the subject of a number of research analyst reports. Barclays lifted their target price on Hancock Whitney from $76.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price objective on shares of Hancock Whitney from $78.00 to $80.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. Citigroup reiterated a "buy" rating on shares of Hancock Whitney in a research note on Thursday, July 23rd. Stephens dropped their target price on shares of Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Finally, Hovde Group downgraded shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 target price on the stock. in a research report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Hancock Whitney currently has a consensus rating of "Moderate Buy" and an average price target of $83.56.

Hancock Whitney Trading Up 0.1%

Shares of Hancock Whitney stock opened at $76.98 on Thursday. The stock has a fifty day simple moving average of $72.66 and a 200 day simple moving average of $69.00. Hancock Whitney Corporation has a 12-month low of $54.05 and a 12-month high of $79.36. The company has a market capitalization of $6.25 billion, a P/E ratio of 15.09 and a beta of 0.95. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business had revenue of $403.57 million for the quarter, compared to analysts' expectations of $398.89 million. During the same period last year, the business earned $1.37 EPS. The business's revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that Hancock Whitney Corporation will post 6.45 earnings per share for the current fiscal year.

About Hancock Whitney

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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