Hancock Whitney Corporation $HWC Shares Sold by Citigroup Inc.

Key Points

• Citigroup Inc. reduced its stake in Hancock Whitney Corporation by 7.5% in the first quarter, now holding approximately 155,602 shares worth about $8.16 million.
• Hancock Whitney has declared a quarterly dividend of $0.45, which represents an annualized yield of 3.0% and a payout ratio of 33.15%.
• Wall Street analysts have mixed ratings on Hancock Whitney, with one sell rating, two hold ratings, and a consensus average target price of $66.71.

Citigroup Inc. reduced its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 7.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 155,602 shares of the company's stock after selling 12,592 shares during the period. Citigroup Inc. owned approximately 0.18% of Hancock Whitney worth $8,161,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HWC. Massachusetts Financial Services Co. MA purchased a new position in Hancock Whitney during the 1st quarter worth $43,019,000. Silvercrest Asset Management Group LLC purchased a new position in Hancock Whitney during the 4th quarter worth $24,775,000. Point72 Asset Management L.P. purchased a new position in Hancock Whitney during the 4th quarter worth $13,796,000. Barclays PLC grew its position in Hancock Whitney by 69.5% during the 4th quarter. Barclays PLC now owns 544,471 shares of the company's stock worth $29,795,000 after purchasing an additional 223,275 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Hancock Whitney by 17.1% during the 4th quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after purchasing an additional 193,028 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Price Performance

HWC stock traded down $0.18 during trading on Thursday, reaching $60.28. 628,609 shares of the company were exchanged, compared to its average volume of 654,046. The company has a market cap of $5.11 billion, a P/E ratio of 11.10 and a beta of 1.11. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $62.90. The stock's 50 day moving average price is $58.87 and its 200 day moving average price is $55.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.01. The firm had revenue of $377.98 million for the quarter, compared to the consensus estimate 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 firm earned $1.31 earnings per share. As a group, analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. Hancock Whitney's payout ratio is currently 33.15%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HWC. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Hovde Group raised their price objective on shares of Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Hancock Whitney in a report on Wednesday, July 16th. Piper Sandler lifted their target price 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. Finally, DA Davidson lifted their target price on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned 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 price target of $66.71.

About Hancock Whitney

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.