AlphaQuest LLC Reduces Stake in Hancock Whitney Corporation $HWC

Key Points

• AlphaQuest LLC sold 22,650 shares of Hancock Whitney Corporation, reducing its stake by 40.9% to own 32,772 shares worth approximately $1.72 million.
• Institutional investors own 81.22% of Hancock Whitney’s stock, with significant increases in holdings from firms like Wellington Management Group and Fuller & Thaler Asset Management.
• Hancock Whitney reported earnings of $1.37 per share for the latest quarter, slightly exceeding analysts' estimates, and declared a quarterly dividend of $0.45 payable in September.

AlphaQuest LLC reduced its position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 40.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,772 shares of the company's stock after selling 22,650 shares during the quarter. AlphaQuest LLC's holdings in Hancock Whitney were worth $1,719,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Hancock Whitney during the 1st quarter valued at about $31,000. Versant Capital Management Inc grew its stake in shares of Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock valued at $37,000 after acquiring an additional 599 shares during the period. UMB Bank n.a. lifted its holdings in Hancock Whitney by 1,132.1% in the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after purchasing an additional 917 shares in the last quarter. GeoWealth Management LLC purchased a new position in Hancock Whitney in the 4th quarter worth approximately $65,000. Finally, GAMMA Investing LLC boosted its position in shares of Hancock Whitney by 115.3% during the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock valued at $65,000 after acquiring an additional 664 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Trading Down 0.8%

HWC stock traded down $0.52 during midday trading on Thursday, reaching $63.01. The company's stock had a trading volume of 101,720 shares, compared to its average volume of 713,848. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day simple moving average of $59.64 and a two-hundred day simple moving average of $55.61. Hancock Whitney Corporation has a 1 year low of $43.90 and a 1 year high of $64.25. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 11.59 and a beta of 1.11.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, topping 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 business had revenue of $377.98 million for the quarter, compared to analyst estimates of $375.99 million. During the same quarter last year, the firm posted $1.31 earnings per share. On average, equities research analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Hancock Whitney's payout ratio is presently 33.15%.

Analysts Set New Price Targets

HWC has been the subject of a number of research reports. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. DA Davidson increased their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Piper Sandler increased their target price on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. Finally, Hovde Group increased their target price on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One 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 company. According to data from MarketBeat.com, Hancock Whitney presently has a consensus rating of "Moderate Buy" and an average price target of $67.63.

About Hancock Whitney

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.