Hsbc Holdings PLC Has $3.05 Million Position in Hancock Whitney Corporation $HWC

Key Points

• HSBC Holdings increased its Hancock Whitney stake by 89.9% in the second quarter, owning 40,744 shares valued at approximately $3.05 million. Institutional investors collectively own 81.22% of HWC’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $83.78, above the reported share price of $74.40.
• Hancock Whitney reported quarterly EPS of $1.55 and revenue of $403.57 million, while announcing a $0.50 quarterly dividend, equivalent to a $2.00 annualized payout and a 2.7% yield.

Hsbc Holdings PLC raised its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 89.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,744 shares of the company's stock after buying an additional 19,287 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Hancock Whitney worth $3,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HWC. Allworth Financial LP acquired a new position in shares of Hancock Whitney in the second quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Hancock Whitney during the 4th quarter worth approximately $35,000. Root Financial Partners LLC grew its position in shares of Hancock Whitney by 70.9% during the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company's stock worth $39,000 after purchasing an additional 254 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company's stock worth $39,000 after purchasing an additional 253 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Hancock Whitney in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Insider Transactions at Hancock Whitney

In other news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares of the company's stock, valued at approximately $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Achary sold 22,694 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The shares were 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. The trade was a 33.95% 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 Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. DA Davidson lifted their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a report on Monday, May 18th. Citigroup reiterated a "buy" rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Stephens reduced their target price on Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods raised their price target on Hancock Whitney from $78.00 to $80.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.78.

Hancock Whitney Trading Down 0.0%

Shares of HWC stock opened at $74.40 on Friday. Hancock Whitney Corporation has a fifty-two week low of $54.05 and a fifty-two week high of $80.13. The stock's fifty day moving average price is $76.32 and its two-hundred day moving average price is $70.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $5.97 billion, a PE ratio of 14.59 and a beta of 0.94.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. The company had revenue of $403.57 million during the quarter, compared to analysts' expectations of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.Hancock Whitney's revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. Equities analysts predict that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 annualized dividend and a yield of 2.7%. Hancock Whitney's payout ratio is presently 39.22%.

Hancock Whitney Profile

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. The bank provides banking and financial services to individuals, families, businesses and institutions across the Gulf South.

Its offerings include personal and business deposit accounts, consumer and commercial loans, residential and commercial real estate financing, treasury management, online and mobile banking, investment services and wealth management.

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