Hennessy Advisors Inc. Sells 7,000 Shares of Hancock Whitney Corporation (NASDAQ:HWC)

Hennessy Advisors Inc. reduced its holdings in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 20.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the company's stock after selling 7,000 shares during the quarter. Hennessy Advisors Inc.'s holdings in Hancock Whitney were worth $1,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HWC. Versant Capital Management Inc raised its holdings in Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after buying an additional 599 shares during the period. UMB Bank n.a. raised its holdings in shares of Hancock Whitney by 1,132.1% during the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after acquiring an additional 917 shares during the period. GeoWealth Management LLC purchased a new stake in shares of Hancock Whitney in the 4th quarter valued at approximately $65,000. GAMMA Investing LLC boosted its stake in Hancock Whitney by 115.3% in the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after purchasing an additional 664 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Hancock Whitney during the 4th quarter worth approximately $92,000. 81.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $48.09, for a total transaction of $40,299.42. Following the completion of the transaction, the director now owns 23,019 shares of the company's stock, valued at $1,106,983.71. The trade was a 3.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is owned by company insiders.

Hancock Whitney Stock Down 1.4%

NASDAQ HWC traded down $0.75 during trading on Tuesday, reaching $53.18. The company's stock had a trading volume of 700,526 shares, compared to its average volume of 604,169. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $4.55 billion, a PE ratio of 9.95 and a beta of 1.05. Hancock Whitney Corporation has a 1-year low of $43.60 and a 1-year high of $62.40. The business has a 50-day moving average price of $53.23 and a 200-day moving average price of $54.90.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. The business had revenue of $367.50 million during the quarter, compared to analyst estimates of $368.12 million. Hancock Whitney had a net margin of 23.15% and a return on equity of 11.43%. On average, research analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, June 5th. Hancock Whitney's dividend payout ratio is 33.21%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HWC shares. Piper Sandler restated an "overweight" rating and issued a $70.00 target price (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Stephens decreased their price objective on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Hancock Whitney from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.25.

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.