SG Americas Securities LLC Makes New Investment in Hancock Whitney Corporation (NASDAQ:HWC)

SG Americas Securities LLC purchased a new stake in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,349 shares of the company's stock, valued at approximately $281,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in Hancock Whitney in the fourth quarter valued at approximately $54,605,000. Silvercrest Asset Management Group LLC acquired a new position in shares of Hancock Whitney in the 4th quarter worth approximately $24,775,000. Point72 Asset Management L.P. bought a new stake in shares of Hancock Whitney in the 4th quarter valued at $13,796,000. Foundry Partners LLC acquired a new stake in shares of Hancock Whitney during the fourth quarter worth $12,937,000. Finally, Barclays PLC raised its stake in Hancock Whitney by 69.5% during the fourth quarter. Barclays PLC now owns 544,471 shares of the company's stock worth $29,795,000 after buying an additional 223,275 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hancock Whitney

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

Wall Street Analyst Weigh In

HWC has been the topic of several recent analyst reports. Raymond James Financial restated a "strong-buy" rating and issued a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Wall Street Zen raised Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Piper Sandler restated an "overweight" rating and set a $70.00 target price (up previously from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their target price on Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Finally, Stephens lowered their target price on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.25.

Hancock Whitney Price Performance

HWC stock opened at $57.44 on Friday. Hancock Whitney Corporation has a 1 year low of $43.90 and a 1 year high of $62.40. The stock has a market capitalization of $4.92 billion, a PE ratio of 10.60 and a beta of 1.05. The company's 50-day moving average is $54.28 and its 200-day moving average is $54.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.82 and a quick ratio of 0.82.

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

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.13%. The ex-dividend date was Thursday, June 5th. Hancock Whitney's payout ratio is currently 33.21%.

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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