Millennium Management LLC Sells 499,090 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Millennium Management LLC lowered its stake in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 53.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 426,358 shares of the company's stock after selling 499,090 shares during the quarter. Millennium Management LLC owned approximately 0.50% of Hancock Whitney worth $23,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hancock Whitney by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,409 shares of the company's stock valued at $2,704,000 after buying an additional 1,896 shares during the period. Interval Partners LP boosted its holdings in Hancock Whitney by 5.0% in the fourth quarter. Interval Partners LP now owns 197,467 shares of the company's stock valued at $10,805,000 after acquiring an additional 9,366 shares during the last quarter. Focus Partners Wealth increased its position in Hancock Whitney by 1.8% in the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company's stock worth $539,000 after purchasing an additional 173 shares during the period. Deutsche Bank AG raised its holdings in Hancock Whitney by 55.6% during the 4th quarter. Deutsche Bank AG now owns 243,656 shares of the company's stock worth $13,333,000 after purchasing an additional 87,093 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Hancock Whitney during the 4th quarter valued at about $210,000. 81.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Christine L. Pickering sold 838 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $48.09, for a total value of $40,299.42. Following the completion of the transaction, the director now owns 23,019 shares of the company's stock, valued at approximately $1,106,983.71. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HWC shares. Stephens reduced their price objective on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and issued a $70.00 price objective (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Wall Street Zen raised Hancock Whitney from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. DA Davidson decreased their target price on Hancock Whitney from $69.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $62.00 price target (down from $72.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.25.

Hancock Whitney Stock Down 1.1%

Shares of NASDAQ HWC traded down $0.60 during mid-day trading on Monday, reaching $54.25. 509,125 shares of the company's stock were exchanged, compared to its average volume of 596,398. Hancock Whitney Co. has a twelve month low of $43.60 and a twelve month high of $62.40. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 10.27 and a beta of 1.05. The business has a fifty day simple moving average of $52.06 and a 200 day simple moving average of $55.37.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. The firm had revenue of $367.50 million for the quarter, compared to analyst estimates of $368.12 million. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. As a group, equities analysts expect that Hancock Whitney Co. will post 5.53 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, June 5th. Hancock Whitney's payout ratio is presently 33.21%.

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.