Hancock Whitney Corporation $HWC Shares Sold by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC reduced its Hancock Whitney stake by 37.8% in the second quarter, selling 15,142 shares and retaining 24,901 shares worth approximately $1.86 million. Institutional investors collectively own 81.22% of the company.
• Hancock Whitney reported quarterly EPS of $1.55, matching estimates, while revenue rose 6.9% year over year to $403.57 million. The company declared a quarterly dividend of $0.50, equivalent to a 2.6% annualized yield.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $83.78 versus a recent price of $77.60.

Oliver Luxxe Assets LLC lessened its position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 37.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,901 shares of the company's stock after selling 15,142 shares during the period. Oliver Luxxe Assets LLC's holdings in Hancock Whitney were worth $1,861,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in Hancock Whitney by 8.3% during the second quarter. GAMMA Investing LLC now owns 1,909 shares of the company's stock valued at $143,000 after purchasing an additional 147 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new stake in shares of Hancock Whitney during the 1st quarter valued at about $200,000. Summit Financial Wealth Advisors LLC raised its stake in Hancock Whitney by 0.6% during the first quarter. Summit Financial Wealth Advisors LLC now owns 86,837 shares of the company's stock worth $5,522,000 after acquiring an additional 520 shares during the period. Bank of America Corp DE raised its stake in Hancock Whitney by 16.4% during the first quarter. Bank of America Corp DE now owns 807,585 shares of the company's stock worth $51,354,000 after acquiring an additional 114,029 shares during the period. Finally, Edgestream Partners L.P. bought a new position in Hancock Whitney in the first quarter worth about $8,456,000. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Price Performance

Shares of Hancock Whitney stock opened at $77.60 on Friday. Hancock Whitney Corporation has a 52 week low of $54.05 and a 52 week high of $79.36. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.30 billion, a PE ratio of 15.22 and a beta of 0.95. The company's 50-day moving average price is $74.05 and its two-hundred day moving average price is $69.47.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company had revenue of $403.57 million during the quarter, compared to analyst estimates of $398.89 million. During the same quarter last year, the firm posted $1.37 EPS. The business's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Hancock Whitney Corporation will post 6.45 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. Hancock Whitney's dividend payout ratio is currently 39.22%.

Insider Buying and Selling at Hancock Whitney

In other news, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the completion of the sale, the chief financial officer owned 44,160 shares in the company, valued at approximately $3,364,108.80. This represents a 33.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine L. Pickering sold 417 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total value of $28,005.72. Following the sale, the director directly owned 25,066 shares in the company, valued at $1,683,432.56. This trade represents a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup reiterated a "buy" rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on Hancock Whitney from $78.00 to $80.00 and gave the company a "market perform" rating in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Hancock Whitney from a "buy (b)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Stephens cut their price objective on shares of Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Finally, Hovde Group lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 target price for the company. in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.78.

About Hancock Whitney

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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