New York State Teachers Retirement System Has $8.36 Million Stock Position in Hancock Whitney Corporation $HWC

New York State Teachers Retirement System raised its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,630 shares of the company's stock after buying an additional 4,873 shares during the period. New York State Teachers Retirement System owned 0.17% of Hancock Whitney worth $8,359,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Hancock Whitney by 1.0% during the first quarter. Principal Financial Group Inc. now owns 199,532 shares of the company's stock valued at $10,465,000 after buying an additional 1,882 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Hancock Whitney by 5.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,016 shares of the company's stock valued at $525,000 after buying an additional 484 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Hancock Whitney by 1.7% in the first quarter. The Manufacturers Life Insurance Company now owns 607,177 shares of the company's stock worth $31,846,000 after purchasing an additional 10,157 shares during the period. SG Americas Securities LLC bought a new position in shares of Hancock Whitney in the first quarter worth about $281,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Hancock Whitney by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock worth $105,139,000 after purchasing an additional 128,860 shares during the period. 81.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HWC. Hovde Group lifted their price objective on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. 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 note on Friday, July 11th. DA Davidson lifted their price objective on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Citigroup lifted their price objective on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen lowered Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $69.86.

Hancock Whitney Trading Up 1.4%

Shares of HWC opened at $55.27 on Monday. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $64.66. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 9.89 and a beta of 1.11. The stock's 50-day moving average price is $61.92 and its 200 day moving average price is $57.59.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Hancock Whitney had a return on equity of 11.29% and a net margin of 23.99%.The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $391.32 million. During the same period in the previous year, the company posted $1.33 earnings per share. As a group, research analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, September 5th. Hancock Whitney's dividend payout ratio is currently 32.20%.

About Hancock Whitney

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.

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