Sanctuary Advisors LLC Buys Shares of 54,147 Hancock Whitney Corporation $HWC

Key Points

• Sanctuary Advisors LLC initiated a position in Hancock Whitney by purchasing 54,147 shares valued at approximately $1.38 million. Institutional investors collectively own 81.22% of the company.
• Hancock Whitney reported quarterly earnings of $1.55 per share, matching estimates, while revenue of $403.57 million exceeded expectations and increased 6.9% year over year.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a 2.7% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.78.

Sanctuary Advisors LLC bought a new position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 54,147 shares of the company's stock, valued at approximately $1,380,000. Sanctuary Advisors LLC owned about 0.07% of Hancock Whitney at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Hancock Whitney during the 2nd quarter valued at about $28,000. Torren Management LLC bought a new position in Hancock Whitney during the fourth quarter valued at approximately $32,000. Hilton Head Capital Partners LLC acquired a new stake in Hancock Whitney in the fourth quarter valued at approximately $35,000. Root Financial Partners LLC grew its position in Hancock Whitney by 70.9% in the first quarter. Root Financial Partners LLC now owns 612 shares of the company's stock worth $39,000 after acquiring an additional 254 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company's stock worth $39,000 after acquiring an additional 253 shares in the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, CFO Michael M. Achary sold 22,694 shares of the company's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the completion of the sale, the chief financial officer directly owned 44,160 shares in the company, valued at $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the transaction, the insider directly owned 15,565 shares of the company's stock, valued at $1,189,166. This represents a 24.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is owned by corporate insiders.

Hancock Whitney Trading Up 0.8%

NASDAQ:HWC opened at $75.23 on Thursday. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $80.13. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 14.75 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.04. The company's 50 day moving average is $75.95 and its 200-day moving average is $70.19.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting analysts' consensus estimates of $1.55. The business had revenue of $403.57 million during the quarter, compared to analysts' expectations of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. Hancock Whitney's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 earnings per share. Equities analysts anticipate that Hancock Whitney Corporation will post 6.44 EPS for the current year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. Hancock Whitney's payout ratio is currently 39.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HWC. Zacks Research downgraded shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Hancock Whitney from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Benchmark increased their target price on shares of Hancock Whitney from $84.00 to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Stephens cut their target price on Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $87.00 price target on shares of Hancock Whitney in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.78.

About Hancock Whitney

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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