Allianz Asset Management GmbH Increases Stake in Hancock Whitney Corporation $HWC

Key Points

• Allianz Asset Management GmbH increased its stake in Hancock Whitney Corporation by 245.5% in the second quarter, holding 198,093 shares valued at approximately $11.37 million.
• Hancock Whitney reported a quarterly earnings per share of $1.49, exceeding analysts' expectations and representing a year-over-year increase from $1.33.
• Several analysts have set new price targets for Hancock Whitney, with Piper Sandler raising their target from $70.00 to $72.00, maintaining an "overweight" rating for the stock.

Allianz Asset Management GmbH increased its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 245.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 198,093 shares of the company's stock after acquiring an additional 140,750 shares during the quarter. Allianz Asset Management GmbH owned about 0.23% of Hancock Whitney worth $11,371,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HWC. GAMMA Investing LLC increased its holdings in Hancock Whitney by 115.3% in the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after acquiring an additional 664 shares during the last quarter. SG Americas Securities LLC purchased a new position in Hancock Whitney during the 1st quarter valued at about $281,000. Wealth Enhancement Advisory Services LLC grew its holdings in Hancock Whitney by 5.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,016 shares of the company's stock valued at $525,000 after buying an additional 484 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Hancock Whitney by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 10,085 shares of the company's stock valued at $528,000 after buying an additional 265 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Hancock Whitney by 15.4% during the 1st quarter. Blue Trust Inc. now owns 2,560 shares of the company's stock valued at $134,000 after buying an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 81.22% of the company's stock.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $56.74 on Wednesday. The business has a 50 day moving average of $61.82 and a 200 day moving average of $57.66. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 10.15 and a beta of 1.11. Hancock Whitney Corporation has a 1-year low of $43.90 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.79 and a quick ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its earnings results on Tuesday, October 14th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $391.32 million. Hancock Whitney had a return on equity of 11.29% and a net margin of 23.99%.During the same quarter in the previous year, the company posted $1.33 EPS. On average, sell-side analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were given a $0.45 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. Hancock Whitney's payout ratio is presently 32.20%.

Analysts Set New Price Targets

A number of research analysts have weighed in on HWC shares. Piper Sandler lifted their target price on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. DA Davidson lifted their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Hancock Whitney in a report on Wednesday, October 8th. Wall Street Zen lowered Hancock Whitney from a "hold" rating to a "sell" rating in a report on Monday, August 11th. Finally, Raymond James Financial cut their price objective on Hancock Whitney from $73.00 to $72.00 and set a "strong-buy" rating for the company in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $69.86.

Insiders Place Their Bets

In other Hancock Whitney news, CFO Michael M. Achary sold 9,894 shares of the business's stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $54.86, for a total value of $542,784.84. Following the completion of the sale, the chief financial officer owned 55,733 shares in the company, valued at approximately $3,057,512.38. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.91% of the company's stock.

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.

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