34,197 Shares in Hancock Whitney Corporation $HWC Purchased by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 34,197 Hancock Whitney shares worth approximately $2.56 million during the second quarter. Institutional investors and hedge funds collectively own 81.22% of the bank’s stock.
• Hancock Whitney reported quarterly EPS of $1.55, in line with analyst expectations, while revenue of $403.57 million exceeded estimates and increased 6.9% year over year.
• The company declared a quarterly dividend of $0.50, equating to a $2.00 annualized payout and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.78, although insiders recently sold shares.

Jupiter Topco LLC acquired a new stake in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,197 shares of the company's stock, valued at approximately $2,556,000.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in shares of Hancock Whitney during the second quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Hancock Whitney in the 4th quarter worth approximately $35,000. Root Financial Partners LLC boosted its position in shares of Hancock Whitney by 70.9% during the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company's stock worth $39,000 after purchasing an additional 254 shares during the period. IFP Advisors Inc boosted its position in shares of Hancock Whitney by 67.6% during the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company's stock worth $39,000 after purchasing an additional 253 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Hancock Whitney during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Trading Up 2.2%

NASDAQ HWC opened at $74.84 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 14.67 and a beta of 0.94. The firm has a 50 day simple moving average of $76.28 and a 200-day simple moving average of $70.26. Hancock Whitney Corporation has a one year low of $54.05 and a one year high of $80.13.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $403.57 million for 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%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. Equities research analysts anticipate that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings raised Hancock Whitney from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Hovde Group lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 price target for the company. in a research report on Friday, June 12th. DA Davidson lifted their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Raymond James Financial reiterated a "strong-buy" rating and issued a $87.00 price objective on shares of Hancock Whitney in a report on Wednesday, July 22nd. Finally, Zacks Research lowered Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. One research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.78.

Insiders Place Their Bets

In related news, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney stock in a transaction on Friday, July 24th. The stock was sold at an average price of $76.18, for a total value of $1,728,828.92. Following the completion of the transaction, the chief financial officer directly owned 44,160 shares in the company, valued at approximately $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the business's 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 transaction, the insider directly owned 15,565 shares of the company's stock, valued at $1,189,166. The trade was a 24.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding HWC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hancock Whitney Corporation (NASDAQ:HWC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source