Arrowstreet Capital Limited Partnership Sells 125,356 Shares of Hancock Whitney Corporation $HWC

Key Points

• Arrowstreet Capital reduced its Hancock Whitney stake by 23.2%, selling 125,356 shares in the first quarter and retaining 413,935 shares worth approximately $26.3 million. Institutional investors collectively own 81.22% of the company.
• Analyst sentiment remains broadly positive, with Hancock Whitney holding a “Moderate Buy” consensus rating and an average price target of $83.56; recent targets range from $80 to $87.
• Hancock Whitney reported quarterly EPS of $1.55, in line with estimates, while revenue of $403.57 million exceeded forecasts and rose 6.9% year over year. Shares opened at $76.98, near their 12-month high of $79.36.

Arrowstreet Capital Limited Partnership cut its holdings in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 23.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 413,935 shares of the company's stock after selling 125,356 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.51% of Hancock Whitney worth $26,322,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HWC. Torren Management LLC purchased a new position in shares of Hancock Whitney during the 4th quarter worth about $32,000. Hilton Head Capital Partners LLC bought a new stake in Hancock Whitney during the 4th quarter valued at $35,000. Root Financial Partners LLC boosted its position in Hancock Whitney by 70.9% during the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company's stock valued at $39,000 after acquiring an additional 254 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Hancock Whitney by 67.6% in the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company's stock valued at $39,000 after acquiring an additional 253 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Hancock Whitney in the 4th quarter valued at about $40,000. Institutional investors own 81.22% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on HWC. Raymond James Financial reiterated a "strong-buy" rating and set a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Stephens lowered their target price on Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Barclays upped their price objective on Hancock Whitney from $76.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, DA Davidson lifted their price objective on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Hancock Whitney currently has an average rating of "Moderate Buy" and an average price target of $83.56.

Insider Activity

In other Hancock Whitney news, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney 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 transaction, the chief financial officer directly owned 44,160 shares of the company's stock, valued at $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total value of $28,005.72. Following the completion of the sale, the director owned 25,066 shares in the company, valued at $1,683,432.56. This represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by company insiders.

Hancock Whitney Stock Up 0.1%

Shares of NASDAQ HWC opened at $76.98 on Thursday. The stock has a market cap of $6.25 billion, a PE ratio of 15.09 and a beta of 0.95. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a 12-month low of $54.05 and a 12-month high of $79.36. The company has a 50-day moving average of $72.66 and a 200 day moving average of $69.00.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business had revenue of $403.57 million during the quarter, compared to analyst estimates of $398.89 million. During the same period in the prior year, the business earned $1.37 earnings per share. The business's revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Hancock Whitney Corporation will post 6.45 EPS for the current fiscal year.

Hancock Whitney Company Profile

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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