Nuveen LLC Makes New Investment in Hancock Whitney Corporation $HWC

Key Points

• Nuveen LLC has acquired 727,607 shares of Hancock Whitney Corporation, valued at approximately $38.16 million, increasing its ownership stake to about 0.84% by the end of the recent reporting period.
• Hancock Whitney announced a quarterly dividend of $0.45 per share, with an annualized dividend yield of 3.0%, set to be paid on September 15th to stockholders on record as of September 5th.
• Analysts have mixed ratings on Hancock Whitney, with one sell rating, two hold ratings, four buy ratings, and one strong buy rating, leading to a consensus rating of "Moderate Buy" and an average target price of $66.71.

Nuveen LLC acquired a new position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 727,607 shares of the company's stock, valued at approximately $38,163,000. Nuveen LLC owned 0.84% of Hancock Whitney as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after purchasing an additional 599 shares during the period. UMB Bank n.a. increased its holdings in Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after purchasing an additional 917 shares during the period. GeoWealth Management LLC purchased a new position in Hancock Whitney during the 4th quarter worth $65,000. GAMMA Investing LLC increased its holdings in Hancock Whitney by 115.3% during the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after purchasing an additional 664 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Hancock Whitney during the 4th quarter worth $92,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Stock Down 0.3%

Shares of Hancock Whitney stock traded down $0.18 during trading on Thursday, reaching $60.28. The company's stock had a trading volume of 628,609 shares, compared to its average volume of 654,046. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 11.10 and a beta of 1.11. Hancock Whitney Corporation has a 1-year low of $43.90 and a 1-year high of $62.90. The company has a 50-day simple moving average of $58.87 and a two-hundred day simple moving average of $55.54.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.01. The firm had revenue of $377.98 million during the quarter, compared to analysts' expectations of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.During the same quarter last year, the firm earned $1.31 EPS. As a group, equities analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. Hancock Whitney's dividend payout ratio (DPR) is presently 33.15%.

Wall Street Analyst Weigh In

HWC has been the topic of several research reports. DA Davidson raised their price objective on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $62.00 to $63.00 in a report on Friday, July 11th. Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a report on Wednesday, July 16th. Hovde Group raised their price objective on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Piper Sandler lifted their price target on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $66.71.

About Hancock Whitney

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.