New York State Teachers Retirement System Sells 7,900 Shares of Hancock Whitney Corporation (NASDAQ:HWC)

New York State Teachers Retirement System lowered its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,757 shares of the company's stock after selling 7,900 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Hancock Whitney worth $7,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in shares of Hancock Whitney by 554.6% in the first quarter. Versant Capital Management Inc now owns 707 shares of the company's stock valued at $37,000 after buying an additional 599 shares during the period. UMB Bank n.a. raised its stake in Hancock Whitney by 1,132.1% during the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after buying an additional 917 shares during the last quarter. GeoWealth Management LLC acquired a new position in Hancock Whitney in the fourth quarter valued at $65,000. GAMMA Investing LLC grew its holdings in Hancock Whitney by 115.3% during the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after acquiring an additional 664 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Hancock Whitney in the 4th quarter worth about $92,000. Institutional investors own 81.22% of the company's stock.

Insider Buying and Selling

In other news, Director Christine L. Pickering sold 838 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $48.09, for a total transaction of $40,299.42. Following the sale, the director directly owned 23,019 shares in the company, valued at approximately $1,106,983.71. This represents a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HWC. Raymond James Financial reiterated a "strong-buy" rating and issued a $62.00 target price (down from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price target on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and issued a $70.00 target price (up from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Stephens reduced their price objective on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, DA Davidson decreased their price target on shares of Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.29.

Hancock Whitney Price Performance

NASDAQ:HWC traded up $0.59 during trading hours on Friday, hitting $61.10. 315,354 shares of the stock traded hands, compared to its average volume of 614,678. The stock has a 50 day moving average price of $55.39 and a 200 day moving average price of $54.80. 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 cap of $5.23 billion, a price-to-earnings ratio of 11.27 and a beta of 1.05. Hancock Whitney Corporation has a 1 year low of $43.90 and a 1 year high of $62.40.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. Hancock Whitney had a return on equity of 11.43% and a net margin of 23.15%. The business had revenue of $367.50 million for the quarter, compared to the consensus estimate of $368.12 million. Sell-side analysts forecast that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.80 annualized dividend and a dividend yield of 2.95%. Hancock Whitney's dividend payout ratio (DPR) is 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.