Bayforest Capital Ltd Makes New Investment in Hancock Whitney Corporation $HWC

Key Points

• Bayforest Capital Ltd acquired a new stake in Hancock Whitney Corporation ($HWC), purchasing 8,104 shares valued at approximately $425,000.
• Multiple institutional investors have increased their positions in HWC, with significant stakes being raised by Versant Capital Management Inc and UMB Bank n.a.
• Hancock Whitney announced a quarterly dividend of $0.45 per share, reflecting an annual dividend yield of 2.9% and a payout ratio of 33.15%.

Bayforest Capital Ltd acquired a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,104 shares of the company's stock, valued at approximately $425,000.

A number of other institutional investors and hedge funds have also modified their holdings of HWC. Brooklyn Investment Group bought a new position in shares of Hancock Whitney in the 1st quarter worth approximately $31,000. Versant Capital Management Inc raised its stake 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 valued at $37,000 after acquiring an additional 599 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Hancock Whitney during the first quarter valued at approximately $41,000. Amundi purchased a new stake in Hancock Whitney during the 1st quarter worth approximately $50,000. Finally, UMB Bank n.a. increased its stake in shares of Hancock Whitney by 1,132.1% in the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after acquiring an additional 917 shares during the period. Institutional investors own 81.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HWC. Piper Sandler increased their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Hovde Group boosted their target price on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. DA Davidson lifted their price target on shares of Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Citigroup increased their price objective on shares of Hancock Whitney from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Hancock Whitney currently has a consensus rating of "Moderate Buy" and an average price target of $68.25.

Hancock Whitney Stock Down 0.4%

HWC stock opened at $62.67 on Wednesday. The firm's 50-day moving average is $60.82 and its two-hundred day moving average is $55.81. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 11.54 and a beta of 1.13. Hancock Whitney Corporation has a 52 week low of $43.90 and a 52 week high of $64.25. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05.

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 quarter in the previous year, the business posted $1.31 earnings per share. On average, analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Hancock Whitney's payout ratio is currently 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.

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