23,355 Shares in Hancock Whitney Corporation $HWC Purchased by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC purchased 23,355 shares of Hancock Whitney, valued at approximately $1.745 million. Several other institutions also initiated positions, and institutional investors now own 81.22% of the stock.
• Hancock Whitney insiders sold shares: CFO Michael Achary sold about $1.73 million worth, while insider Emory Mayfield sold approximately $381,000. Corporate insiders retain just 0.92% ownership.
• The bank matched quarterly EPS expectations at $1.55 and exceeded revenue estimates with $403.57 million in revenue, up 6.9% year over year. It also declared a $0.50 quarterly dividend, or $2.00 annually, yielding about 2.7%; analysts maintain a “Moderate Buy” consensus with an $83.78 price target.

Sanctuary Advisors LLC purchased a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 23,355 shares of the company's stock, valued at approximately $1,745,000.

A number of other large investors have also recently made changes to their positions in HWC. Pinnacle Holdings LLC purchased a new position in shares of Hancock Whitney during the second quarter valued at approximately $464,000. Elevation Point Wealth Partners LLC bought a new stake in Hancock Whitney in the 2nd quarter worth approximately $637,000. Northwestern Mutual Wealth Management Co. bought a new stake in Hancock Whitney in the 2nd quarter worth approximately $79,000. Emerald Investment Advisers LLC purchased a new stake in Hancock Whitney during the 2nd quarter valued at $3,085,000. Finally, William Blair Investment Management LLC purchased a new stake in Hancock Whitney during the 2nd quarter valued at $33,393,000. 81.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hancock Whitney

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the completion of the sale, the insider owned 15,565 shares in the company, valued at approximately $1,189,166. This represents a 24.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $76.18, for a total value of $1,728,828.92. Following the sale, the chief financial officer directly owned 44,160 shares in the company, valued at approximately $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company's stock.

Hancock Whitney Stock Up 0.8%

HWC stock opened at $75.23 on Thursday. The business's 50-day moving average price is $75.95 and its 200-day moving average price is $70.19. The stock has a market cap of $6.03 billion, a P/E ratio of 14.75 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a twelve month low of $54.05 and a twelve month high of $80.13.

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

Hancock Whitney Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. Hancock Whitney's payout ratio is 39.22%.

Wall Street Analyst Weigh In

HWC has been the subject of several research analyst reports. Stephens cut their price objective on Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. DA Davidson increased their target price on Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a report on Monday, May 18th. Citigroup reaffirmed a "buy" rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Hovde Group cut shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 price objective on the stock. in a research note on Friday, June 12th. Finally, Zacks Research downgraded shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.78.

Hancock Whitney 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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