Connor Clark & Lunn Investment Management Ltd. Makes New $569,000 Investment in Hancock Whitney Corporation $HWC

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Hancock Whitney Corporation, purchasing 10,845 shares valued at around $569,000.
• Hancock Whitney recently declared a quarterly dividend of $0.45, representing an annualized dividend yield of 3.0% and indicating a healthy financial position.
• Analysts have mixed ratings on Hancock Whitney, with a consensus rating of "Moderate Buy" and a target price of $66.71, reflecting varying expectations for the company's performance.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,845 shares of the company's stock, valued at approximately $569,000.

A number of other hedge funds have also recently added to or reduced their stakes in HWC. Massachusetts Financial Services Co. MA acquired a new position in Hancock Whitney in the first quarter worth $43,019,000. Silvercrest Asset Management Group LLC acquired a new position in shares of Hancock Whitney during the fourth quarter valued at $24,775,000. Point72 Asset Management L.P. acquired a new position in shares of Hancock Whitney during the fourth quarter valued at $13,796,000. AQR Capital Management LLC boosted its holdings in shares of Hancock Whitney by 17.1% during the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock valued at $72,300,000 after acquiring an additional 193,028 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Hancock Whitney by 60.5% during the first quarter. Deutsche Bank AG now owns 391,182 shares of the company's stock valued at $20,517,000 after acquiring an additional 147,526 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Stock Performance

Shares of NASDAQ HWC traded up $3.21 during midday trading on Friday, reaching $63.49. 1,155,526 shares of the company traded hands, compared to its average volume of 645,998. Hancock Whitney Corporation has a 52 week low of $43.90 and a 52 week high of $63.82. The stock has a 50-day moving average price of $59.06 and a 200 day moving average price of $55.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 11.69 and a beta of 1.11.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. The business had revenue of $377.98 million for the quarter, compared to analysts' expectations of $375.99 million. During the same period in the previous year, the business earned $1.31 earnings per share. 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 firm 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 is Friday, September 5th. This represents a $1.80 annualized dividend and a yield of 2.8%. Hancock Whitney's payout ratio is 33.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HWC shares. Piper Sandler boosted their price target 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. Hovde Group boosted their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods downgraded shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $62.00 to $63.00 in a report on Friday, July 11th. Finally, DA Davidson boosted their price target 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 investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Hancock Whitney presently has a consensus rating of "Moderate Buy" and an average price target of $66.71.

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.