Pallas Capital Advisors LLC Buys New Position in Hancock Whitney Corporation $HWC

Key Points

• Pallas Capital Advisors LLC has acquired a new position in Hancock Whitney Corporation, purchasing 4,607 shares valued at approximately $264,000 in the 2nd quarter.
• Equities analysts show mixed sentiments with a consensus "Buy" rating for Hancock Whitney, with price targets ranging from $63.00 to $72.00.
• Hancock Whitney announced a quarterly dividend of $0.45, reflecting an annualized dividend yield of 2.8%, and its recent quarterly earnings beat analysts' expectations.

Pallas Capital Advisors LLC acquired a new position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,607 shares of the company's stock, valued at approximately $264,000.

A number of other large investors have also bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Hancock Whitney during the second quarter valued at $179,000. Balefire LLC purchased a new stake in shares of Hancock Whitney in the 2nd quarter worth approximately $415,000. First Bank & Trust purchased a new stake in shares of Hancock Whitney in the 2nd quarter worth approximately $209,000. Voya Investment Management LLC lifted its position in Hancock Whitney by 6.3% in the 1st quarter. Voya Investment Management LLC now owns 353,614 shares of the company's stock valued at $18,547,000 after acquiring an additional 20,977 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Hancock Whitney in the 1st quarter worth $703,000. 81.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler raised their price target on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut Hancock Whitney from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. Hovde Group upped their target price on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating on shares of Hancock Whitney in a report on Monday, September 8th. Finally, Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $70.00.

Hancock Whitney Stock Down 1.0%

Shares of NASDAQ HWC opened at $63.67 on Monday. Hancock Whitney Corporation has a 1 year low of $43.90 and a 1 year high of $64.66. The firm's 50 day moving average price is $61.23 and its 200 day moving average price is $56.25. The firm has a market cap of $5.40 billion, a P/E ratio of 11.73 and a beta of 1.13. 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 announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. The company had revenue of $377.98 million for the quarter, compared to analyst estimates of $375.99 million. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. During the same quarter last year, the business earned $1.31 EPS. As a group, sell-side analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, September 5th. Hancock Whitney's dividend payout ratio (DPR) is 33.15%.

Hancock Whitney Company 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.

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