Interval Partners LP Has $4.19 Million Position in Hancock Whitney Corporation $HWC

Key Points

• Interval Partners LP has reduced its stake in Hancock Whitney Corporation by 59.5%, now holding approximately 0.09% of the company, valued at about $4.19 million.
• Several investment firms have adjusted their price targets for Hancock Whitney, with Citigroup raising its target to $74.00 while the consensus rating remains a Moderate Buy with an average target price of $67.63.
• Hancock Whitney announced a quarterly dividend of $0.45 per share, with a yield of 2.9%, set to be paid on September 15th to shareholders of record on September 5th.

Interval Partners LP reduced its position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 59.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,960 shares of the company's stock after selling 117,507 shares during the period. Interval Partners LP owned 0.09% of Hancock Whitney worth $4,194,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Hancock Whitney by 50.4% in the first quarter. Wellington Management Group LLP now owns 3,057,103 shares of the company's stock valued at $160,345,000 after buying an additional 1,024,869 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Hancock Whitney by 12.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,089,454 shares of the company's stock valued at $109,592,000 after purchasing an additional 235,363 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Hancock Whitney by 6.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock valued at $105,139,000 after purchasing an additional 128,860 shares during the period. American Century Companies Inc. grew its position in shares of Hancock Whitney by 0.4% during the first quarter. American Century Companies Inc. now owns 1,465,661 shares of the company's stock worth $76,874,000 after buying an additional 6,315 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Hancock Whitney by 1.1% in the first quarter. AQR Capital Management LLC now owns 1,335,997 shares of the company's stock valued at $69,044,000 after buying an additional 14,717 shares during the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HWC shares. Hovde Group raised their target price on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Citigroup lifted their price objective on shares of Hancock Whitney from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. DA Davidson lifted their price objective on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen cut shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Finally, Piper Sandler lifted their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $68.25.

Hancock Whitney Trading Up 0.4%

HWC traded up $0.23 during trading on Thursday, reaching $63.39. The company had a trading volume of 202,100 shares, compared to its average volume of 710,440. The firm's 50-day simple moving average is $60.87 and its 200 day simple moving average is $55.86. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 11.62 and a beta of 1.13. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $64.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81.

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 analysts' consensus estimates of $1.36 by $0.01. The firm had revenue of $377.98 million for the quarter, compared to analysts' expectations 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 business posted $1.31 EPS. Equities research analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. Hancock Whitney's payout ratio is presently 33.15%.

Hancock Whitney 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.