Algert Global LLC Cuts Position in Hancock Whitney Corporation $HWC

Key Points

• Algert Global LLC has decreased its holdings in Hancock Whitney Corporation by 21.4%, selling 27,030 shares and now owning approximately 99,445 shares valued at $5.22 million.
• Several institutional investors, including Versant Capital Management and UMB Bank, have significantly increased their stakes, with Versant boosting its holdings by 554.6%.
• Analysts have mixed ratings on Hancock Whitney, with price targets ranging from $65 to $72, and a consensus rating of “Moderate Buy” as of the latest updates.

Algert Global LLC lessened its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 21.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,445 shares of the company's stock after selling 27,030 shares during the quarter. Algert Global LLC owned about 0.12% of Hancock Whitney worth $5,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jump Financial LLC boosted its position in shares of Hancock Whitney by 15.6% during the 4th quarter. Jump Financial LLC now owns 9,335 shares of the company's stock valued at $511,000 after acquiring an additional 1,260 shares during the last quarter. GeoWealth Management LLC bought a new stake in Hancock Whitney in the fourth quarter valued at approximately $65,000. MetLife Investment Management LLC lifted its position in Hancock Whitney by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 99,349 shares of the company's stock valued at $5,436,000 after purchasing an additional 6,194 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Hancock Whitney by 169.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,329 shares of the company's stock valued at $565,000 after buying an additional 6,494 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Hancock Whitney by 2.5% during the fourth quarter. Stifel Financial Corp now owns 14,572 shares of the company's stock valued at $797,000 after buying an additional 362 shares during the period. Hedge funds and other institutional investors own 81.22% of the company's stock.

Hancock Whitney Stock Performance

HWC traded up $3.21 during midday trading on Friday, reaching $63.49. The company had a trading volume of 1,155,526 shares, compared to its average volume of 720,536. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $58.87 and a two-hundred day moving average of $55.54. The company has a market cap of $5.38 billion, a P/E ratio of 11.69 and a beta of 1.11. Hancock Whitney Corporation has a 1 year low of $43.90 and a 1 year high of $63.82.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its 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 firm had revenue of $377.98 million during the quarter, compared to analysts' expectations of $375.99 million. During the same quarter last year, the business posted $1.31 earnings per share. As a group, equities research analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson upped their price target on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a report on Wednesday, July 16th. Keefe, Bruyette & Woods downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and upped their price target for the company from $62.00 to $63.00 in a report on Friday, July 11th. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a report on Monday, August 11th. Finally, Hovde Group upped their price target on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Hancock Whitney has an average rating of "Moderate Buy" and a consensus price target of $66.71.

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.