Cramer Rosenthal Mcglynn LLC Lowers Holdings in Hancock Whitney Corporation $HWC

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 stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 77.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor 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 hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Hancock Whitney during the 1st quarter worth approximately $31,000. Versant Capital Management Inc lifted its stake in Hancock Whitney by 554.6% during the first quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after purchasing an additional 599 shares during the last quarter. Virtus Advisers LLC bought a new position in Hancock Whitney during the first quarter worth $41,000. UMB Bank n.a. lifted its stake in Hancock Whitney by 1,132.1% during the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after purchasing an additional 917 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Hancock Whitney by 115.3% during the first quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after purchasing an additional 664 shares during the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Trading Up 5.3%

NASDAQ:HWC opened at $63.49 on Monday. Hancock Whitney Corporation has a 1 year low of $43.90 and a 1 year high of $63.82. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 11.69 and a beta of 1.11. The business has a fifty day moving average of $59.06 and a 200-day moving average of $55.49. 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 results on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.01. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.The company had revenue of $377.98 million during the quarter, compared to analysts' expectations of $375.99 million. During the same quarter in the prior year, the business posted $1.31 earnings per share. 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. Investors of record on Friday, September 5th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's dividend payout ratio (DPR) is presently 33.15%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HWC. Hovde Group raised their price objective on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, July 16th. Wall Street Zen lowered Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $62.00 to $63.00 in a research report on Friday, July 11th. Finally, DA Davidson increased their target price on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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