Caisse DE Depot ET Placement DU Quebec Acquires Shares of 95,400 Hancock Whitney Corporation $HWC

Key Points

• Caisse DE Depot ET Placement DU Quebec has invested approximately $5 million in Hancock Whitney Corporation by acquiring 95,400 shares, representing about 0.11% of the company's stock.
• Hancock Whitney reported a 1.37 EPS for the quarter, slightly surpassing analysts' expectations, and has been rated with an average of "Moderate Buy" by analysts.
• The company announced a quarterly dividend of $0.45 per share, with a yield of 2.9%, reflecting a payout ratio of 33.15%.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 95,400 shares of the company's stock, valued at approximately $5,004,000. Caisse DE Depot ET Placement DU Quebec owned about 0.11% of Hancock Whitney at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HWC. Brooklyn Investment Group bought a new stake in Hancock Whitney in the first quarter valued at approximately $31,000. Versant Capital Management Inc boosted its holdings in shares of Hancock Whitney by 554.6% during the 1st 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. Virtus Advisers LLC bought a new position in shares of Hancock Whitney during the 1st quarter worth approximately $41,000. UMB Bank n.a. boosted its holdings in shares of 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. Finally, GAMMA Investing LLC boosted its holdings in shares of Hancock Whitney by 115.3% during the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after buying an additional 664 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HWC. Hovde Group increased their price target on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Piper Sandler upped their target price on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. DA Davidson upped their target price on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. Finally, Wall Street Zen lowered Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Hancock Whitney presently has a consensus rating of "Moderate Buy" and an average price target of $67.63.

Hancock Whitney Stock Down 1.4%

NASDAQ HWC traded down $0.87 on Tuesday, reaching $62.06. The company had a trading volume of 167,496 shares, compared to its average volume of 710,951. The stock has a market capitalization of $5.26 billion, a P/E ratio of 11.41 and a beta of 1.13. The company's fifty day moving average is $60.16 and its 200 day moving average is $55.62. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $64.25. 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 results on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 11.21% and a net margin of 23.28%.During the same period in the prior year, the firm posted $1.31 EPS. Sell-side analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's dividend payout ratio is presently 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.