Hancock Whitney Corporation $HWC Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Hancock Whitney Corporation by 7.9%, bringing its total shares owned to 491,035 and a valuation of approximately $25.76 million.
• The company reported earnings per share of $1.37 for the last quarter, exceeding the consensus estimate of $1.36, with revenues totaling $377.98 million.
• Hancock Whitney has announced a quarterly dividend of $0.45 per share, set to be paid on September 15, representing an annualized yield of 3.0%.

Invesco Ltd. raised its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 491,035 shares of the company's stock after purchasing an additional 36,025 shares during the period. Invesco Ltd. owned about 0.57% of Hancock Whitney worth $25,755,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings 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 valued at $105,139,000 after buying an additional 128,860 shares during the period. AQR Capital Management LLC lifted its holdings in Hancock Whitney by 17.1% in the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after acquiring an additional 193,028 shares during the last quarter. Northern Trust Corp boosted its stake in Hancock Whitney by 5.5% in the fourth quarter. Northern Trust Corp now owns 1,265,146 shares of the company's stock valued at $69,229,000 after acquiring an additional 66,074 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Hancock Whitney during the first quarter valued at approximately $43,019,000. Finally, Bank of America Corp DE grew its holdings in shares of Hancock Whitney by 0.6% during the fourth quarter. Bank of America Corp DE now owns 652,540 shares of the company's stock valued at $35,707,000 after purchasing an additional 3,890 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Price Performance

NASDAQ:HWC traded up $3.21 during midday trading on Friday, hitting $63.49. 1,155,526 shares of the stock were exchanged, compared to its average volume of 645,998. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 11.69 and a beta of 1.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. Hancock Whitney Corporation has a one year low of $43.90 and a one year high of $63.82. The business has a 50-day moving average price of $59.06 and a two-hundred day moving average price of $55.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.The firm had revenue of $377.98 million during the quarter, compared to analyst estimates of $375.99 million. During the same period last year, the company posted $1.31 EPS. Sell-side analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Dividend Announcement

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

Analysts Set New Price Targets

HWC has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. DA Davidson upped their price target on shares of 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 reiterated a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their target price for the company from $62.00 to $63.00 in a research note on Friday, July 11th. Finally, Hovde Group raised their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.71.

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.