Vest Financial LLC Buys 23,609 Shares of Hancock Whitney Corporation $HWC

Key Points

• Vest Financial LLC significantly increased its stake in Hancock Whitney Corporation by 162.3%, acquiring an additional 23,609 shares, raising its total holdings to 38,154 shares valued at approximately $2.19 million.
• Hancock Whitney announced a quarterly dividend of $0.45 per share, which results in an annualized dividend yield of 2.9% and a payout ratio of 33.15%.
• Hancock Whitney's recent earnings report showed an Earnings Per Share (EPS) of $1.49, exceeding analysts' expectations of $1.43, with a revenue of $391.32 million for the quarter.

Vest Financial LLC increased its holdings in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 162.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,154 shares of the company's stock after acquiring an additional 23,609 shares during the period. Vest Financial LLC's holdings in Hancock Whitney were worth $2,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in Hancock Whitney in the 1st quarter valued at about $31,000. Virtus Advisers LLC bought a new position in shares of Hancock Whitney during the 1st quarter valued at approximately $41,000. Amundi bought a new position in Hancock Whitney in the 1st quarter worth approximately $50,000. GAMMA Investing LLC boosted its holdings in Hancock Whitney by 115.3% in the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after buying an additional 664 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Hancock Whitney by 15.4% in the 1st quarter. Blue Trust Inc. now owns 2,560 shares of the company's stock worth $134,000 after buying an additional 341 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Price Performance

Shares of NASDAQ:HWC opened at $62.53 on Wednesday. The stock has a market cap of $5.30 billion, a PE ratio of 11.52 and a beta of 1.11. The company's fifty day moving average is $62.04 and its 200 day moving average is $57.44. Hancock Whitney Corporation has a 52 week low of $43.90 and a 52 week high of $64.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its earnings results on Tuesday, October 14th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. The company had revenue of $0.03 million for the quarter, compared to analysts' expectations of $391.32 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 company earned $1.33 EPS. Research analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. Hancock Whitney's payout ratio is presently 33.15%.

Analyst Upgrades and Downgrades

HWC has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Hancock Whitney in a report on Monday, September 8th. Citigroup raised their price objective on shares of Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a report on Monday, August 11th. Finally, Hovde Group raised their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $70.00.

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.

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