Comerica Bank Has $1.91 Million Stock Holdings in Hancock Whitney Corporation $HWC

Key Points

• Comerica Bank reduced its stake in Hancock Whitney Corporation by 34.1%, owning 36,471 shares worth approximately $1.91 million as of the latest SEC filing.
• Analysts maintain a generally optimistic outlook on Hancock Whitney, with Citigroup and Piper Sandler raising their price targets to $74.00 and $72.00 respectively, despite a recent downgrade by Wall Street Zen.
• Hancock Whitney recently announced a quarterly dividend of $0.45 per share, representing a yield of 2.9%, with the ex-dividend date on September 5th.

Comerica Bank decreased its position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,471 shares of the company's stock after selling 18,862 shares during the quarter. Comerica Bank's holdings in Hancock Whitney were worth $1,913,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HWC. Stifel Financial Corp lifted its holdings in Hancock Whitney by 2.5% during the 4th quarter. Stifel Financial Corp now owns 14,572 shares of the company's stock worth $797,000 after buying an additional 362 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Hancock Whitney by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 63,921 shares of the company's stock worth $3,498,000 after buying an additional 5,992 shares in the last quarter. Northern Trust Corp lifted its holdings in Hancock Whitney by 5.5% during the 4th quarter. Northern Trust Corp now owns 1,265,146 shares of the company's stock worth $69,229,000 after buying an additional 66,074 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hancock Whitney by 0.6% during the 4th quarter. Bank of America Corp DE now owns 652,540 shares of the company's stock worth $35,707,000 after buying an additional 3,890 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in Hancock Whitney during the 4th quarter worth $345,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HWC shares. Citigroup upped their price objective on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Piper Sandler increased their price target on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and increased their price target for the company from $62.00 to $63.00 in a research note on Friday, July 11th. Finally, DA Davidson increased their price target on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.63.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $62.26 on Wednesday. The company has a market capitalization of $5.28 billion, a PE ratio of 11.47 and a beta of 1.13. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month 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. The stock's fifty day simple moving average is $60.29 and its 200 day simple moving average is $55.67.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. The business had revenue of $377.98 million for the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.During the same quarter last year, the business posted $1.31 EPS. On average, research analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's dividend payout ratio (DPR) 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.

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