Hancock Whitney Corporation $HWC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its shares in Hancock Whitney Corporation by 3.6%, selling 45,455 shares during the first quarter, now holding approximately 1.42% of the company valued at $63.97 million.
• Hancock Whitney recently beat earnings estimates with reported earnings per share of $1.37, surpassing consensus expectations of $1.36 and showcasing revenues of $377.98 million.
• The company announced a quarterly dividend of $0.45 per share, representing an annualized yield of 2.9%, with shareholders of record set to receive this on September 15th.

Northern Trust Corp decreased its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 3.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,219,691 shares of the company's stock after selling 45,455 shares during the quarter. Northern Trust Corp owned 1.42% of Hancock Whitney worth $63,973,000 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 HWC. Tower Research Capital LLC TRC increased its stake in Hancock Whitney by 169.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,329 shares of the company's stock worth $565,000 after acquiring an additional 6,494 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Hancock Whitney by 2.5% during the fourth quarter. Stifel Financial Corp now owns 14,572 shares of the company's stock valued at $797,000 after buying an additional 362 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Hancock Whitney by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 63,921 shares of the company's stock valued at $3,498,000 after buying an additional 5,992 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Hancock Whitney by 17.1% during the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after purchasing an additional 193,028 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Hancock Whitney by 155.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 66,045 shares of the company's stock valued at $3,614,000 after acquiring an additional 40,179 shares in the last quarter. Institutional investors own 81.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $62.00 to $63.00 in a report on Friday, July 11th. DA Davidson lifted their price objective on shares of Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Piper Sandler lifted their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Hovde Group lifted their price objective on shares of Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.63.

Hancock Whitney Stock Performance

NASDAQ HWC traded down $0.20 on Friday, reaching $62.92. 421,207 shares of the company's stock traded hands, compared to its average volume of 602,732. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 11.59 and a beta of 1.13. The stock has a 50 day moving average price of $60.01 and a 200-day moving average price of $55.60. Hancock Whitney Corporation has a fifty-two week low of $43.90 and a fifty-two week high of $64.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81.

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

Hancock Whitney Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a $0.45 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. Hancock Whitney's dividend payout ratio is 33.15%.

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.