Great Lakes Advisors LLC Has $13.03 Million Stake in Hancock Whitney Corporation $HWC

Key Points

• Great Lakes Advisors LLC reduced its stake in Hancock Whitney Corporation by 5.9%, now holding 248,474 shares valued at approximately $13.03 million.
• Hancock Whitney reported a quarterly earnings per share of $1.37, slightly surpassing analysts' expectations of $1.36.
• The company recently declared a quarterly dividend of $0.45 per share, with a dividend yield of 2.9% and payout ratio of 33.15%.

Great Lakes Advisors LLC reduced its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 248,474 shares of the company's stock after selling 15,532 shares during the period. Great Lakes Advisors LLC owned 0.29% of Hancock Whitney worth $13,032,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. PharVision Advisers LLC acquired a new stake in shares of Hancock Whitney in the 1st quarter valued at $424,000. NewEdge Advisors LLC increased its stake in shares of Hancock Whitney by 22.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company's stock valued at $197,000 after buying an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hancock Whitney by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company's stock valued at $2,710,000 after buying an additional 2,255 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Hancock Whitney by 89.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 76,600 shares of the company's stock valued at $4,018,000 after buying an additional 36,200 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Hancock Whitney by 1.1% in the 1st quarter. AQR Capital Management LLC now owns 1,335,997 shares of the company's stock valued at $69,044,000 after buying an additional 14,717 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Trading Down 0.4%

Shares of Hancock Whitney stock traded down $0.25 during trading on Friday, reaching $63.22. 763,976 shares of the company were exchanged, compared to its average volume of 666,586. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. Hancock Whitney Corporation has a twelve month low of $43.90 and a twelve month high of $64.25. The business has a 50-day moving average price of $60.96 and a 200-day moving average price of $55.96. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.64 and a beta of 1.13.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.The firm had revenue of $377.98 million during the quarter, compared to analysts' expectations of $375.99 million. During the same period in the previous year, the firm earned $1.31 earnings per share. Sell-side analysts anticipate that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 2.8%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's payout ratio is presently 33.15%.

Analyst Ratings Changes

Several equities research analysts have recently commented on HWC shares. Piper Sandler lifted their target price 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 cut Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods cut Hancock Whitney from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. DA Davidson lifted their price objective on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Hovde Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $68.25.

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.