744,183 Shares in Hancock Whitney Corporation $HWC Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 744,183 Hancock Whitney shares worth approximately $55.6 million, giving it a 0.92% stake. Institutional investors collectively own 81.22% of the bank’s stock.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $83.78. Recent upgrades and reiterated bullish ratings include targets as high as $87.
• Hancock Whitney reported quarterly EPS of $1.55 and revenue of $403.57 million, while announcing a $0.50 quarterly dividend. The annualized dividend is $2.00 per share, yielding about 2.7%.

Bank of New York Mellon Corp bought a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 744,183 shares of the company's stock, valued at approximately $55,605,000. Bank of New York Mellon Corp owned 0.92% of Hancock Whitney as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Torren Management LLC acquired a new position in shares of Hancock Whitney during the 4th quarter worth $32,000. Hilton Head Capital Partners LLC bought a new stake in shares of Hancock Whitney during the fourth quarter valued at approximately $35,000. Root Financial Partners LLC raised its position in Hancock Whitney by 70.9% in the first quarter. Root Financial Partners LLC now owns 612 shares of the company's stock worth $39,000 after purchasing an additional 254 shares in the last quarter. IFP Advisors Inc raised its position in Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company's stock worth $39,000 after purchasing an additional 253 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Hancock Whitney during the fourth quarter worth about $40,000. 81.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings raised Hancock Whitney from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Barclays boosted their price objective on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $87.00 price objective on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on Hancock Whitney from $78.00 to $80.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. Finally, Raymond James Financial restated a "strong-buy" rating and set a $87.00 target price on shares of Hancock Whitney in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.78.

Hancock Whitney Stock Up 0.8%

HWC opened at $75.23 on Thursday. The stock's fifty day simple moving average is $75.95 and its 200 day simple moving average is $70.19. Hancock Whitney Corporation has a 1-year low of $54.05 and a 1-year high of $80.13. The stock has a market cap of $6.03 billion, a PE ratio of 14.75 and a beta of 0.95. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

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

Hancock Whitney Dividend Announcement

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

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction dated Thursday, August 20th. The shares were 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 $1,189,166. The trade was a 24.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the business's stock in a transaction dated Friday, July 24th. The shares were 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 of the company's stock, valued at $3,364,108.80. This represents a 33.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.92% of the company's stock.

About Hancock Whitney

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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