Hancock Whitney Corporation $HWC Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Hancock Whitney Corporation by 105.4%, acquiring an additional 25,883 shares, bringing its total ownership to approximately 0.06%, valued at $2.646 million.
• The company is set to pay a quarterly dividend of $0.45 per share on September 15th, reflecting an annualized dividend of $1.80 and a yield of 2.8%.
• Hancock Whitney reported a net margin of 23.28% and a return on equity of 11.21% in its recent earnings, surpassing earnings expectations with an EPS of $1.37 for the quarter.

Russell Investments Group Ltd. raised its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 105.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,440 shares of the company's stock after acquiring an additional 25,883 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Hancock Whitney worth $2,646,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Focus Partners Wealth increased its position in shares of Hancock Whitney by 1.8% during the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company's stock valued at $539,000 after acquiring an additional 173 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Hancock Whitney by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company's stock valued at $1,264,000 after acquiring an additional 200 shares during the last quarter. Xponance Inc. increased its position in shares of Hancock Whitney by 1.7% during the first quarter. Xponance Inc. now owns 12,473 shares of the company's stock valued at $654,000 after acquiring an additional 213 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Hancock Whitney by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 10,085 shares of the company's stock valued at $528,000 after acquiring an additional 265 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Hancock Whitney by 1.5% during the first quarter. State of Michigan Retirement System now owns 20,640 shares of the company's stock valued at $1,083,000 after acquiring an additional 300 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Trading Up 5.3%

NASDAQ HWC opened at $63.49 on Monday. 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 52 week low of $43.90 and a 52 week high of $63.82. The stock has a market capitalization of $5.38 billion, a PE ratio of 11.69 and a beta of 1.11. The firm has a 50 day moving average of $59.06 and a two-hundred day moving average of $55.49.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. 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 previous year, the business posted $1.31 EPS. As a group, research analysts expect that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, September 5th. Hancock Whitney's payout ratio is currently 33.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. DA Davidson raised their price objective on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, July 16th. Finally, Hovde Group raised their price objective on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.71.

Hancock Whitney 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.

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