Hancock Whitney Corporation (NASDAQ:HWC) Position Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 140,757 shares of the company's stock after selling 7,900 shares during the period. New York State Teachers Retirement System owned 0.16% of Hancock Whitney worth $7,383,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $1,096,000. US Bancorp DE boosted its position in shares of Hancock Whitney by 11.4% in the fourth quarter. US Bancorp DE now owns 2,581 shares of the company's stock worth $141,000 after acquiring an additional 265 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Hancock Whitney by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,228,710 shares of the company's stock worth $67,235,000 after acquiring an additional 73,875 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $9,517,000. Finally, Callan Family Office LLC acquired a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $205,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Stock Down 1.8%

Shares of NASDAQ HWC traded down $1.12 during trading on Monday, reaching $59.95. 1,229,467 shares of the stock were exchanged, compared to its average volume of 618,510. The business's 50-day moving average price is $55.54 and its 200 day moving average price is $54.85. Hancock Whitney Corporation has a twelve month low of $43.90 and a twelve month high of $62.40. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 11.06 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. Hancock Whitney had a net margin of 23.15% and a return on equity of 11.43%. The business had revenue of $367.50 million for the quarter, compared to analysts' expectations of $368.12 million. As a group, equities analysts forecast that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.80 annualized dividend and a dividend yield of 3.00%. Hancock Whitney's dividend payout ratio is presently 33.21%.

Insider Buying and Selling at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $48.09, for a total transaction of $40,299.42. Following the completion of the sale, the director owned 23,019 shares in the company, valued at $1,106,983.71. This trade represents a 3.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on HWC. Piper Sandler restated an "overweight" rating and set a $70.00 price target (up from $68.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Stephens dropped their price target on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. DA Davidson reduced their price target on shares of Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.29.

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.