Hancock Whitney Corporation (NASDAQ:HWC) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp significantly increased its stake in Hancock Whitney Corporation by 216.5%, acquiring an additional 140,583 shares in the first quarter, bringing their total ownership to approximately $10.78 million.
• Multiple analysts have revised their price targets for Hancock Whitney, with the consensus price target now at $66.71 and a general sentiment of a "Moderate Buy" rating.
• The company announced a quarterly dividend of $0.45 per share, representing a 3.0% dividend yield and a payout ratio of 33.15%.

Mackenzie Financial Corp grew its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 216.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,512 shares of the company's stock after buying an additional 140,583 shares during the period. Mackenzie Financial Corp owned 0.24% of Hancock Whitney worth $10,779,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Hancock Whitney by 6.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock worth $105,139,000 after purchasing an additional 128,860 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Hancock Whitney by 17.1% in the 4th quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after purchasing an additional 193,028 shares during the last quarter. Northern Trust Corp raised its position in shares of Hancock Whitney by 5.5% in the 4th quarter. Northern Trust Corp now owns 1,265,146 shares of the company's stock worth $69,229,000 after purchasing an additional 66,074 shares during the last quarter. Norges Bank purchased a new position in shares of Hancock Whitney in the 4th quarter worth about $54,605,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Hancock Whitney in the 1st quarter worth about $43,019,000. Institutional investors own 81.22% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Hovde Group boosted their target price on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Sunday. DA Davidson boosted their target price on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. Finally, Stephens reduced their price target on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.71.

Hancock Whitney Stock Down 0.7%

HWC stock traded down $0.39 during trading on Tuesday, reaching $58.50. 164,855 shares of the company traded hands, compared to its average volume of 725,548. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month high of $62.90. The business has a 50 day simple moving average of $57.60 and a 200 day simple moving average of $55.47. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 10.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.01. The business had revenue of $377.98 million during the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%. During the same quarter last year, the company earned $1.31 earnings per share. On average, equities research analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently declared 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. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 5th. Hancock Whitney's dividend payout ratio (DPR) is currently 33.15%.

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.