Bridgeway Capital Management LLC Has $4.02 Million Stock Holdings in Hancock Whitney Corporation $HWC

Key Points

• Bridgeway Capital Management LLC significantly increased its ownership in Hancock Whitney Corporation by 89.6%, now holding a total of 76,600 shares worth approximately $4 million.
• Several hedge funds, including Wellington Management Group LLC, also expanded their stakes, with Wellington boosting its position by 50.4% during the same period.
• Hancock Whitney recently declared a quarterly dividend of $0.45 per share, with the dividend yield currently at 2.9% and a payout ratio of 33.15%.

Bridgeway Capital Management LLC lifted its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 89.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,600 shares of the company's stock after acquiring an additional 36,200 shares during the quarter. Bridgeway Capital Management LLC owned 0.09% of Hancock Whitney worth $4,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Hancock Whitney in the 1st quarter worth about $31,000. Versant Capital Management Inc boosted its holdings in shares of Hancock Whitney by 554.6% in 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 during the period. Virtus Advisers LLC acquired a new position in shares of Hancock Whitney in the first quarter worth about $41,000. Amundi purchased a new position in shares of Hancock Whitney in the first quarter worth approximately $50,000. Finally, UMB Bank n.a. raised its holdings in shares of Hancock Whitney by 1,132.1% during the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after acquiring an additional 917 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Stock Up 0.5%

HWC stock traded up $0.31 during trading hours on Thursday, hitting $63.47. The company's stock had a trading volume of 959,134 shares, compared to its average volume of 629,880. The stock has a 50 day moving average price of $60.92 and a two-hundred day moving average price of $55.91. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month high of $64.25. The company has a market capitalization of $5.38 billion, a PE ratio of 11.69 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. The business had revenue of $377.98 million during the quarter, compared to analyst estimates 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 earned $1.31 EPS. On average, equities research analysts expect that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. Hancock Whitney's payout ratio is currently 33.15%.

Analysts Set New Price Targets

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

Hancock Whitney 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.