Vestcor Inc Makes New $320,000 Investment in Hancock Whitney Corporation (NASDAQ:HWC)

Key Points

• Vestcor Inc has acquired a new stake in Hancock Whitney Corporation, purchasing 6,107 shares valued at approximately $320,000 in the first quarter.
• Hancock Whitney recently reported earnings per share (EPS) of $1.37, exceeding analyst expectations, while also announcing a quarterly dividend of $0.45 scheduled for September 15th.
• Several institutional investors have increased their stakes in Hancock Whitney, with 81.22% of the company's stock now owned by institutional investors and hedge funds.

Vestcor Inc acquired a new position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,107 shares of the company's stock, valued at approximately $320,000.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hancock Whitney during the 1st quarter valued at approximately $43,019,000. Silvercrest Asset Management Group LLC acquired a new stake in Hancock Whitney in the 4th quarter valued at approximately $24,775,000. Point72 Asset Management L.P. acquired a new stake in Hancock Whitney in the 4th quarter valued at approximately $13,796,000. Barclays PLC grew its stake in shares of Hancock Whitney by 69.5% in the fourth quarter. Barclays PLC now owns 544,471 shares of the company's stock worth $29,795,000 after acquiring an additional 223,275 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Hancock Whitney by 17.1% in the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after acquiring an additional 193,028 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Stock Up 0.9%

HWC traded up $0.53 on Friday, reaching $58.16. 146,675 shares of the company traded hands, compared to its average volume of 720,189. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 10.71 and a beta of 1.11. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $62.90. The stock's 50 day moving average price is $57.78 and its 200-day moving average price is $55.50.

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

Hancock Whitney Dividend Announcement

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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a yield of 3.1%. Hancock Whitney's dividend payout ratio is currently 33.15%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HWC shares. Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. Stephens cut their price target on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and increased their price target for the company from $62.00 to $63.00 in a research report on Friday, July 11th. Hovde Group increased 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. Finally, Piper Sandler increased 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. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.71.

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.