Harbour Capital Advisors LLC Makes New $244,000 Investment in Hancock Whitney Corporation $HWC

Key Points

• Harbour Capital Advisors LLC acquired 4,035 shares of Hancock Whitney Corporation (NASDAQ:HWC) during the 2nd quarter, amounting to approximately $244,000.
• Hancock Whitney recently announced a quarterly dividend of $0.45 per share, representing an annual yield of 2.8% and a payout ratio of 33.15%.
• According to analysts, Hancock Whitney has a consensus rating of "Buy" with a target price range raised by multiple firms, highlighting a strong outlook for the stock.

Harbour Capital Advisors LLC purchased a new position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,035 shares of the company's stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Hancock Whitney by 1.0% during the first quarter. Principal Financial Group Inc. now owns 199,532 shares of the company's stock valued at $10,465,000 after purchasing an additional 1,882 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Hancock Whitney by 5.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,016 shares of the company's stock worth $525,000 after acquiring an additional 484 shares during the period. SG Americas Securities LLC purchased a new position in Hancock Whitney in the 1st quarter worth about $281,000. Allspring Global Investments Holdings LLC increased its stake in Hancock Whitney by 6.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock worth $105,139,000 after purchasing an additional 128,860 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Hancock Whitney by 1.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 607,177 shares of the company's stock worth $31,846,000 after purchasing an additional 10,157 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Price Performance

Hancock Whitney stock traded up $0.05 on Tuesday, reaching $62.58. The company's stock had a trading volume of 317,160 shares, compared to its average volume of 728,274. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 11.54 and a beta of 1.13. The business's fifty day moving average price is $61.27 and its 200 day moving average price is $56.32. Hancock Whitney Corporation has a twelve month low of $43.90 and a twelve month high of $64.66.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.The business had revenue of $377.98 million for the quarter, compared to analyst estimates of $375.99 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities analysts expect that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Hancock Whitney's dividend payout ratio is 33.15%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HWC shares. Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a research note on Monday, September 8th. Citigroup lifted their target price on Hancock Whitney from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen cut Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. DA Davidson lifted their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler lifted their target price on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $70.00.

Hancock Whitney Profile

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.