Hancock Whitney Corporation $HWC Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC cut its Hancock Whitney stake by 30.8% in the fourth quarter, selling 19,129 shares and ending with 42,909 shares valued at about $2.73 million.
• Analyst sentiment remains mixed but generally constructive: Hancock Whitney has a Moderate Buy consensus rating, even as some firms recently trimmed their recommendations. DA Davidson and Citigroup raised their price targets to $86 and $81, respectively.
• The company reported Q1 earnings of $1.52 per share, topping estimates, and announced a quarterly dividend of $0.50 per share, implying a 2.9% annualized yield.

Intech Investment Management LLC lessened its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 30.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,909 shares of the company's stock after selling 19,129 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Hancock Whitney worth $2,732,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Hancock Whitney during the 4th quarter valued at $32,000. IFP Advisors Inc lifted its holdings in shares of Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company's stock valued at $39,000 after buying an additional 253 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hancock Whitney in the third quarter valued at $45,000. CIBC Private Wealth Group LLC boosted its stake in Hancock Whitney by 84,400.0% during the third quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company's stock valued at $53,000 after buying an additional 844 shares in the last quarter. Finally, Amundi bought a new position in Hancock Whitney during the first quarter valued at about $50,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HWC has been the subject of several research reports. DA Davidson raised their target price on Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Citigroup raised their target price on Hancock Whitney from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Zacks Research downgraded shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 23rd. Weiss Ratings lowered shares of Hancock Whitney from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of Hancock Whitney from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.14.

Insider Transactions at Hancock Whitney

In related news, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the completion of the sale, the director owned 25,066 shares of the company's stock, valued at approximately $1,683,432.56. This trade represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $68.70 on Wednesday. The stock has a market cap of $5.58 billion, a PE ratio of 14.11 and a beta of 0.95. Hancock Whitney Corporation has a 12 month low of $52.89 and a 12 month high of $75.43. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $66.32 and a 200-day simple moving average of $65.87.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.04. The firm had revenue of $393.64 million during the quarter, compared to analysts' expectations of $400.01 million. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.The business's revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. On average, sell-side analysts anticipate that Hancock Whitney Corporation will post 6.47 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. Hancock Whitney's dividend payout ratio (DPR) is presently 41.07%.

Hancock Whitney Profile

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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