Teza Capital Management LLC Sells 7,757 Shares of Hancock Whitney Corporation $HWC

Key Points

• Teza Capital Management LLC reduced its stake in Hancock Whitney Corporation by 52.2%, selling 7,757 shares and leaving it with 7,111 shares worth $373,000.
• Analysts have mixed ratings on Hancock Whitney, with one rating it as a Strong Buy and others indicating a mix of Buy and Hold ratings, alongside an average price target of $67.63.
• Hancock Whitney recently announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 2.9%.

Teza Capital Management LLC lowered its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 52.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,111 shares of the company's stock after selling 7,757 shares during the quarter. Teza Capital Management LLC's holdings in Hancock Whitney were worth $373,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HWC. Wellington Management Group LLP grew its holdings in Hancock Whitney by 50.4% during the first quarter. Wellington Management Group LLP now owns 3,057,103 shares of the company's stock worth $160,345,000 after buying an additional 1,024,869 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hancock Whitney during the first quarter worth $43,019,000. Nuveen LLC bought a new stake in Hancock Whitney during the first quarter worth $38,163,000. Silvercrest Asset Management Group LLC bought a new stake in Hancock Whitney during the fourth quarter worth $24,775,000. Finally, MetLife Investment Management LLC grew its holdings in Hancock Whitney by 294.0% during the first quarter. MetLife Investment Management LLC now owns 391,446 shares of the company's stock worth $20,531,000 after buying an additional 292,097 shares in the last quarter. Institutional investors own 81.22% of the company's stock.

Hancock Whitney Stock Performance

Shares of NASDAQ HWC traded down $0.08 during trading on Friday, reaching $63.39. 516,512 shares of the stock traded hands, compared to its average volume of 713,787. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $64.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $60.92 and a 200-day moving average of $55.91. The stock has a market capitalization of $5.37 billion, a P/E ratio of 11.67 and a beta of 1.13.

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

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's dividend payout ratio is currently 33.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HWC shares. Hovde Group upped their price target on Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $62.00 to $63.00 in a research report on Friday, July 11th. Wall Street Zen cut Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Piper Sandler boosted their price objective on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Citigroup boosted their price objective on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. One 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.25.

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.