United Services Automobile Association Invests $288,000 in Hancock Whitney Corporation $HWC

Key Points

• The United Services Automobile Association invested approximately $288,000 in Hancock Whitney Corporation by purchasing 5,553 shares in the first quarter.
• Hancock Whitney recently announced a dividend of $0.45 per share, yielding about 2.8%, set to be paid on September 15th.
• Analysts have mixed ratings on Hancock Whitney, with upgrades to price targets from several firms, suggesting a general positive outlook on the stock.

United Services Automobile Association purchased a new position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,553 shares of the company's stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Focus Partners Wealth lifted its stake in Hancock Whitney by 1.8% during the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company's stock valued at $539,000 after purchasing an additional 173 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Hancock Whitney by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company's stock valued at $1,264,000 after purchasing an additional 200 shares during the last quarter. Xponance Inc. lifted its stake in Hancock Whitney by 1.7% during the first quarter. Xponance Inc. now owns 12,473 shares of the company's stock valued at $654,000 after purchasing an additional 213 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Hancock Whitney by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 10,085 shares of the company's stock valued at $528,000 after purchasing an additional 265 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Hancock Whitney by 1.5% during the first quarter. State of Michigan Retirement System now owns 20,640 shares of the company's stock valued at $1,083,000 after purchasing an additional 300 shares during the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on HWC. Citigroup increased their target price on shares of Hancock Whitney from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Piper Sandler upped their price target on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. DA Davidson upped their price target on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Hovde Group upped their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $68.25.

Hancock Whitney Stock Down 0.4%

Hancock Whitney stock opened at $63.22 on Friday. The firm has a market cap of $5.36 billion, a PE ratio of 11.64 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. The firm's 50 day moving average price is $60.96 and its two-hundred day moving average price is $55.96. Hancock Whitney Corporation has a twelve month low of $43.90 and a twelve month high of $64.25.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm 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 in the prior year, the business earned $1.31 EPS. On average, research analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, September 5th. Hancock Whitney's dividend payout ratio is currently 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.

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