California State Teachers Retirement System Has $7.19 Million Stock Position in Hancock Whitney Corporation $HWC

Key Points

• CalSTRS reduced its Hancock Whitney stake by 2.9% in the second quarter, ending with 96,219 shares worth approximately $7.19 million. Institutional investors collectively own 81.22% of the company.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $83.78, compared with the stock’s reported price of $75.89.
• Hancock Whitney matched quarterly earnings expectations at $1.55 per share and exceeded revenue estimates, reporting $403.57 million in revenue, up 6.9% year over year. The company also declared a $0.50 quarterly dividend, yielding about 2.6% annually.

California State Teachers Retirement System lowered its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,219 shares of the company's stock after selling 2,838 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Hancock Whitney worth $7,189,484 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. HB Wealth Management LLC purchased a new position in Hancock Whitney during the second quarter worth $242,000. AXQ Capital LP raised its holdings in shares of Hancock Whitney by 9.5% in the second quarter. AXQ Capital LP now owns 6,838 shares of the company's stock valued at $511,000 after buying an additional 595 shares during the last quarter. Nykredit A S purchased a new stake in shares of Hancock Whitney in the second quarter valued at about $264,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Hancock Whitney in the second quarter valued at $422,000. Finally, Penn Capital Management Company LLC boosted its position in Hancock Whitney by 44.6% during the 2nd quarter. Penn Capital Management Company LLC now owns 272,472 shares of the company's stock valued at $20,381,000 after purchasing an additional 84,047 shares during the period. Institutional investors own 81.22% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $87.00 target price on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Hovde Group downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 price target for the company. in a report on Friday, June 12th. Stephens decreased their target price on shares of Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Barclays raised their target price on Hancock Whitney from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $87.00 price objective on shares of Hancock Whitney in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.78.

Insider Activity

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares in the company, valued at $1,189,166. This trade represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Achary sold 22,694 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the transaction, the chief financial officer owned 44,160 shares of the company's stock, valued at $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.92% of the company's stock.

Hancock Whitney Price Performance

HWC stock traded up $0.17 on Tuesday, hitting $75.89. 366,911 shares of the company's stock traded hands, compared to its average volume of 858,155. The stock has a fifty day moving average of $76.35 and a 200-day moving average of $70.55. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a 1-year low of $54.05 and a 1-year high of $80.13. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 14.88 and a beta of 0.94.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting analysts' consensus estimates of $1.55. The company had revenue of $403.57 million during the quarter, compared to the consensus estimate of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company's revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. On average, analysts forecast that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 4th. Hancock Whitney's dividend payout ratio is currently 39.22%.

Hancock Whitney Profile

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. The bank provides banking and financial services to individuals, families, businesses and institutions across the Gulf South.

Its offerings include personal and business deposit accounts, consumer and commercial loans, residential and commercial real estate financing, treasury management, online and mobile banking, investment services and wealth management.

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