Alps Advisors Inc. Takes Position in Hancock Whitney Corporation (NASDAQ:HWC)

Alps Advisors Inc. purchased a new position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,990 shares of the company's stock, valued at approximately $367,000.

A number of other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Hancock Whitney in the fourth quarter valued at $54,605,000. Silvercrest Asset Management Group LLC purchased a new position in Hancock Whitney in the fourth quarter valued at $24,775,000. Point72 Asset Management L.P. purchased a new position in shares of Hancock Whitney during the fourth quarter worth about $13,796,000. Foundry Partners LLC purchased a new position in shares of Hancock Whitney during the fourth quarter worth about $12,937,000. Finally, Barclays PLC lifted its position in shares of Hancock Whitney by 69.5% during the 4th quarter. Barclays PLC now owns 544,471 shares of the company's stock valued at $29,795,000 after acquiring an additional 223,275 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stephens cut their target price on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday. DA Davidson increased their price objective on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods cut shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $62.00 to $63.00 in a report on Friday, July 11th. Finally, Piper Sandler raised their target price on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Hancock Whitney has an average rating of "Moderate Buy" and an average price target of $66.71.

Insider Transactions at Hancock Whitney

In other news, Director Christine L. Pickering sold 838 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $48.09, for a total value of $40,299.42. Following the sale, the director directly owned 23,019 shares in the company, valued at approximately $1,106,983.71. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.91% of the stock is owned by insiders.

Hancock Whitney Trading Down 0.0%

NASDAQ HWC traded down $0.03 during trading on Friday, reaching $60.21. 1,437,146 shares of the stock traded hands, compared to its average volume of 632,611. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 11.09 and a beta of 1.05. The stock's 50-day moving average price is $56.72 and its 200 day moving average price is $55.18. The company has a quick ratio of 0.82, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Hancock Whitney Corporation has a fifty-two week low of $43.90 and a fifty-two week high of $62.40.

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

Hancock Whitney Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.80 dividend on an annualized basis and a yield of 2.99%. Hancock Whitney's payout ratio is 33.15%.

Hancock Whitney Company 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.