Hancock Whitney Corporation (NASDAQ:HWC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 833,962 shares of the company's stock after selling 6,521 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of Hancock Whitney worth $43,741,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Hancock Whitney by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 10,097,563 shares of the company's stock worth $552,539,000 after buying an additional 181,706 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Hancock Whitney by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock worth $105,139,000 after buying an additional 128,860 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Hancock Whitney by 17.1% in the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after buying an additional 193,028 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Hancock Whitney by 5.5% in the fourth quarter. Northern Trust Corp now owns 1,265,146 shares of the company's stock worth $69,229,000 after buying an additional 66,074 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Hancock Whitney in the fourth quarter worth about $54,605,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Trading Up 1.4%

Shares of Hancock Whitney stock traded up $0.82 on Thursday, reaching $60.24. The company had a trading volume of 1,163,915 shares, compared to its average volume of 630,777. The firm's 50 day moving average price is $56.61 and its two-hundred day moving average price is $55.14. The firm has a market cap of $5.16 billion, a PE ratio of 11.09 and a beta of 1.05. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating 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 net margin of 23.28% and a return on equity of 11.21%. During the same quarter in the previous year, the business posted $1.31 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, June 5th. Hancock Whitney's dividend payout ratio (DPR) is currently 33.15%.

Insider Buying and Selling at Hancock Whitney

In related news, Director Christine L. Pickering sold 838 shares of Hancock Whitney 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 completion of the transaction, the director owned 23,019 shares in the company, valued at approximately $1,106,983.71. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.91% of the company's stock.

Analysts Set New Price Targets

HWC has been the topic of several research reports. Hovde Group raised their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler raised their price target on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday. Keefe, Bruyette & Woods downgraded shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. DA Davidson lifted their target price on shares of Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Stephens reduced 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Hancock Whitney has a consensus rating of "Moderate Buy" and an average price target of $66.71.

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.