Glenmede Trust Co. NA Has $16.87 Million Stock Position in Hancock Whitney Corporation $HWC

Key Points

• Glenmede Trust reduced its Hancock Whitney stake by 8.1% in the first quarter, selling 23,466 shares and retaining 265,299 shares worth approximately $16.87 million. Institutional investors collectively own 81.22% of the company.
• Hancock Whitney reported quarterly earnings of $1.55 per share, matching estimates, while revenue of $403.57 million exceeded expectations and rose 6.9% year over year.
• The company declared a quarterly dividend of $0.50 per share, or $2.00 annually, representing a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.56.

Glenmede Trust Co. NA lowered its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,299 shares of the company's stock after selling 23,466 shares during the period. Glenmede Trust Co. NA owned about 0.33% of Hancock Whitney worth $16,870,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Hancock Whitney by 0.6% during the first quarter. SG Americas Securities LLC now owns 24,457 shares of the company's stock worth $1,555,000 after acquiring an additional 153 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Hancock Whitney by 4.5% in the fourth quarter. Vident Advisory LLC now owns 3,517 shares of the company's stock worth $224,000 after acquiring an additional 153 shares in the last quarter. BTC Capital Management Inc. increased its holdings in shares of Hancock Whitney by 1.9% in the first quarter. BTC Capital Management Inc. now owns 8,472 shares of the company's stock worth $539,000 after acquiring an additional 162 shares in the last quarter. Hilton Head Capital Partners LLC raised its position in shares of Hancock Whitney by 31.0% during the first quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company's stock worth $46,000 after purchasing an additional 170 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Hancock Whitney by 1.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,186 shares of the company's stock worth $903,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $77.00 on Friday. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 15.10 and a beta of 0.95. The stock's 50-day moving average is $73.05 and its 200-day moving average is $69.12. Hancock Whitney Corporation has a one year low of $54.05 and a one year high of $79.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $403.57 million during the quarter, compared to analysts' expectations of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.Hancock Whitney's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 earnings per share. Equities analysts predict that Hancock Whitney Corporation will post 6.45 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Hancock Whitney's dividend payout ratio is 39.22%.

Insider Buying and Selling

In other news, CFO Michael M. Achary sold 22,694 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the completion of the transaction, the chief financial officer directly owned 44,160 shares of the company's stock, valued at $3,364,108.80. This trade represents a 33.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine L. Pickering sold 417 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the transaction, the director directly owned 25,066 shares of the company's stock, valued at $1,683,432.56. This represents a 1.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson lifted their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a report on Monday, May 18th. Citigroup reissued a "buy" rating on shares of Hancock Whitney in a research note on Thursday, July 23rd. Barclays raised their target price on shares of Hancock Whitney from $76.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Zacks Research lowered shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.56.

About Hancock Whitney

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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