South Dakota Investment Council Reduces Position in Hancock Whitney Corporation (NASDAQ:HWC)

South Dakota Investment Council trimmed its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,986 shares of the company's stock after selling 47,685 shares during the quarter. South Dakota Investment Council owned about 0.05% of Hancock Whitney worth $2,360,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HWC. Versant Capital Management Inc increased its position in shares of Hancock Whitney by 554.6% in the first quarter. Versant Capital Management Inc now owns 707 shares of the company's stock valued at $37,000 after buying an additional 599 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Hancock Whitney by 1,132.1% in the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after acquiring an additional 917 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $65,000. GAMMA Investing LLC boosted its stake in shares of Hancock Whitney by 115.3% in the first quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after acquiring an additional 664 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $92,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Trading Down 0.4%

HWC traded down $0.24 during mid-day trading on Thursday, hitting $61.07. 266,854 shares of the stock were exchanged, compared to its average volume of 723,820. The firm's fifty day moving average is $56.91 and its two-hundred day moving average is $55.31. Hancock Whitney Corporation has a 1-year low of $43.90 and a 1-year high of $62.40. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.23 billion, a PE ratio of 11.25 and a beta of 1.05.

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. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%. The company had revenue of $377.98 million for the quarter, compared to the consensus estimate of $375.99 million. During the same quarter in the prior year, the business earned $1.31 EPS. Equities analysts forecast 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 was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.80 annualized dividend and a yield of 2.95%. Hancock Whitney's dividend payout ratio (DPR) is 33.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HWC shares. Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, July 16th. DA Davidson boosted their price objective on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Piper Sandler boosted their price objective on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Stephens lowered their price objective on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $66.71.

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.