Bayforest Capital Ltd Makes New $425,000 Investment in Hancock Whitney Corporation (NASDAQ:HWC)

Key Points

• Bayforest Capital Ltd invested $425,000 in Hancock Whitney Corporation by purchasing 8,104 shares during the 1st quarter, enhancing institutional ownership which now stands at 81.22%.
• Analysts have mixed ratings on Hancock Whitney, with an average target price of $66.71, while Hovde Group recently increased their price objective to $72.00 with an "outperform" rating.
• The company declared a quarterly dividend of $0.45 to be paid on September 15th, which equates to an annual yield of 2.99% and a payout ratio of 33.15%.

Bayforest Capital Ltd purchased a new position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,104 shares of the company's stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Hancock Whitney by 554.6% during the first quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after buying an additional 599 shares in the last quarter. UMB Bank n.a. lifted its holdings in Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after buying an additional 917 shares in the last quarter. GeoWealth Management LLC bought a new position in Hancock Whitney in the 4th quarter valued at $65,000. GAMMA Investing LLC boosted its position in Hancock Whitney by 115.3% in the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock valued at $65,000 after buying an additional 664 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Hancock Whitney in the 4th quarter valued at $92,000. Institutional investors own 81.22% of the company's stock.

Hancock Whitney Trading Down 3.5%

Shares of NASDAQ HWC traded down $2.08 during midday trading on Friday, reaching $57.64. 798,766 shares of the stock were exchanged, compared to its average volume of 908,222. The business has a 50-day simple moving average of $57.50 and a two-hundred day simple moving average of $55.52. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.62 and a beta of 1.11. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month high of $62.90. 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 posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.36 by $0.01. The business had revenue of $377.98 million for 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 period in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts expect that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's payout ratio is currently 33.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HWC shares. Stephens cut their price target on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and raised their target price for the company 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 report on Wednesday, July 16th. Finally, Piper Sandler lifted 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, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average 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.