LSV Asset Management Increases Position in Hancock Whitney Corporation (NASDAQ:HWC)

Key Points

• LSV Asset Management has increased its stake in Hancock Whitney Corporation by 23.1%, now holding 536,944 shares valued at approximately $28.16 million.
• Hancock Whitney reported quarterly earnings of $1.37 EPS, beating estimates marginally, and announced a dividend of $0.45 per share, reflecting a 3.1% yield.
• Wall Street analysts have raised target prices for Hancock Whitney, with a consensus target of $66.71 and a rating of "Moderate Buy".

LSV Asset Management raised its holdings in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 23.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 536,944 shares of the company's stock after buying an additional 100,744 shares during the period. LSV Asset Management owned about 0.62% of Hancock Whitney worth $28,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth increased its stake in Hancock Whitney by 1.8% during the 4th quarter. Focus Partners Wealth now owns 9,854 shares of the company's stock worth $539,000 after acquiring an additional 173 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Hancock Whitney by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company's stock valued at $1,264,000 after acquiring an additional 200 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Hancock Whitney by 1.7% during the 1st quarter. Xponance Inc. now owns 12,473 shares of the company's stock valued at $654,000 after acquiring an additional 213 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Hancock Whitney by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 10,085 shares of the company's stock worth $528,000 after buying an additional 265 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in Hancock Whitney by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 20,640 shares of the company's stock worth $1,083,000 after buying an additional 300 shares during the period. Institutional investors own 81.22% of the company's stock.

Hancock Whitney Stock Up 0.9%

Hancock Whitney stock traded up $0.49 during midday trading on Friday, reaching $58.12. The stock had a trading volume of 188,663 shares, compared to its average volume of 720,450. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month high of $62.90. The company has a market capitalization of $4.98 billion, a P/E ratio of 10.70 and a beta of 1.11. The company has a fifty day moving average price of $57.78 and a two-hundred day moving average price of $55.50. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.01. The firm had revenue of $377.98 million during the quarter, compared to analyst estimates of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%. During the same period in the previous year, the company posted $1.31 EPS. As a group, equities analysts expect that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 3.1%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's payout ratio is currently 33.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HWC. Wall Street Zen raised Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Keefe, Bruyette & Woods lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $62.00 to $63.00 in a research report on Friday, July 11th. Stephens lowered 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. Piper Sandler lifted their price objective on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Hancock Whitney currently has a consensus 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.