Hancock Whitney Corporation $HWC Shares Sold by Cramer Rosenthal Mcglynn LLC

Key Points

• Cramer Rosenthal Mcglynn LLC significantly reduced its stake in Hancock Whitney Corporation by 77.4% in Q1, now holding 13,533 shares worth $710,000.
• The company announced a quarterly dividend of $0.45, payable on September 15th, representing an annualized yield of 2.8%.
• Hancock Whitney's stock opened at $63.49 and had a market capitalization of $5.38 billion, reflecting overall bullish sentiment from analysts.

Cramer Rosenthal Mcglynn LLC cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 77.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,533 shares of the company's stock after selling 46,419 shares during the period. Cramer Rosenthal Mcglynn LLC's holdings in Hancock Whitney were worth $710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in Hancock Whitney by 169.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,329 shares of the company's stock valued at $565,000 after purchasing an additional 6,494 shares during the period. Stifel Financial Corp lifted its stake in shares of 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 purchasing an additional 362 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position 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 valued at $3,498,000 after buying an additional 5,992 shares in the last quarter. Northern Trust Corp increased its position in Hancock Whitney by 5.5% during the 4th quarter. Northern Trust Corp now owns 1,265,146 shares of the company's stock valued at $69,229,000 after buying an additional 66,074 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Hancock Whitney by 17.1% in the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock valued at $72,300,000 after purchasing an additional 193,028 shares during the period. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Stock Down 0.3%

HWC traded down $0.20 on Friday, hitting $62.92. 421,207 shares of the company were exchanged, compared to its average volume of 621,611. Hancock Whitney Corporation has a twelve month low of $43.90 and a twelve month high of $64.25. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 11.59 and a beta of 1.11. 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 firm has a 50-day moving average price of $60.01 and a two-hundred day moving average price of $55.66.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.01. The business had revenue of $377.98 million during 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 period in the previous year, the business earned $1.31 EPS. On average, equities analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 annualized dividend and a yield of 2.9%. Hancock Whitney's dividend payout ratio is currently 33.15%.

Analyst Upgrades and Downgrades

HWC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. Hovde Group upped their target price on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note 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 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. Finally, Citigroup increased their price target on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday. One research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $67.63.

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.