36,426 Shares in Hancock Whitney Corporation $HWC Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP bought 36,426 Hancock Whitney shares worth approximately $2.72 million during the second quarter. Institutional investors collectively own 81.22% of the company, with BlackRock also establishing a sizable position.
• Hancock Whitney reported quarterly EPS of $1.55, in line with estimates, while revenue of $403.57 million exceeded expectations and increased 6.9% year over year.
• The company declared a quarterly dividend of $0.50, equivalent to $2.00 annually and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.78, above the reported share price.

Corient Private Wealth LP bought a new position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,426 shares of the company's stock, valued at approximately $2,722,000.

Several other hedge funds have also modified their holdings of HWC. BlackRock Inc. purchased a new position in Hancock Whitney in the 2nd quarter worth about $814,839,000. Channing Capital Management LLC purchased a new stake in Hancock Whitney during the fourth quarter valued at about $80,246,000. Norges Bank acquired a new position in shares of Hancock Whitney in the fourth quarter worth about $57,463,000. Bank of New York Mellon Corp acquired a new position in shares of Hancock Whitney in the second quarter worth about $55,605,000. Finally, Bank of America Corp DE purchased a new position in shares of Hancock Whitney in the second quarter worth approximately $52,973,000. 81.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hancock Whitney

In related news, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction on 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 in the company, valued at approximately $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the sale, the insider directly owned 15,565 shares of the company's stock, valued at approximately $1,189,166. The trade was a 24.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by company insiders.

Hancock Whitney Price Performance

NASDAQ HWC opened at $73.24 on Wednesday. The company has a 50 day simple moving average of $76.24 and a 200-day simple moving average of $70.23. 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 capitalization of $5.88 billion, a price-to-earnings ratio of 14.36 and a beta of 0.94. Hancock Whitney Corporation has a 52-week low of $54.05 and a 52-week high of $80.13.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting analysts' consensus estimates 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 was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. Equities research analysts predict that Hancock Whitney Corporation will post 6.44 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on HWC shares. Barclays upped their price target on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Benchmark lifted their price objective on shares of Hancock Whitney from $84.00 to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Piper Sandler reissued an "overweight" rating and set a $87.00 target price on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Zacks Research lowered Hancock Whitney from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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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