Great Lakes Advisors LLC Sells 15,532 Shares of 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 trimmed its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,474 shares of the company's stock after selling 15,532 shares during the quarter. Great Lakes Advisors LLC owned about 0.29% of Hancock Whitney worth $13,032,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PharVision Advisers LLC purchased a new position in shares of Hancock Whitney in the 1st quarter worth about $424,000. NewEdge Advisors LLC boosted its holdings 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 worth $197,000 after purchasing an additional 700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 worth $2,710,000 after purchasing an additional 2,255 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings 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 worth $4,018,000 after purchasing an additional 36,200 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings 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 worth $69,044,000 after purchasing an additional 14,717 shares in the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Hancock Whitney in a report on Monday. Hovde Group upped their price objective on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Citigroup boosted their target price on Hancock Whitney from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen lowered Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Finally, Piper Sandler boosted 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.25.

Hancock Whitney Trading Down 0.4%

HWC traded down $0.25 during midday trading on Friday, reaching $63.22. 763,976 shares of the company's stock traded hands, compared to its average volume of 715,371. The firm has a fifty day moving average of $60.92 and a two-hundred day moving average of $55.91. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. Hancock Whitney Corporation has a 52 week low of $43.90 and a 52 week high of $64.25.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. The business had revenue of $377.98 million during the quarter, compared to analyst estimates of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.During the same quarter in the prior year, the company posted $1.31 EPS. On average, equities 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 dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. Hancock Whitney's dividend payout ratio is presently 33.15%.

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.