Wellington Management Group LLP Increases Stake in Hancock Whitney Corporation $HWC

Key Points

• Wellington Management Group LLP increased its holdings in Hancock Whitney Corporation by 50.4%, owning approximately 3.55% of the company worth $160.35 million after acquiring over 1 million additional shares.
• Hancock Whitney recently announced a quarterly dividend of $0.45, reflecting a 3.0% yield and a payout ratio of 33.15%.
• Despite some recent rating changes, the stock has an average analyst rating of "Moderate Buy" with a target price of $66.71, indicating ongoing confidence in its performance.

Wellington Management Group LLP increased its position in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 50.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,057,103 shares of the company's stock after purchasing an additional 1,024,869 shares during the period. Wellington Management Group LLP owned approximately 3.55% of Hancock Whitney worth $160,345,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Hancock Whitney during the first quarter valued at $31,000. Versant Capital Management Inc raised its holdings in Hancock Whitney by 554.6% in the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after purchasing an additional 599 shares during the period. UMB Bank n.a. lifted its position in shares of Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after buying an additional 917 shares in the last quarter. GeoWealth Management LLC purchased a new position in Hancock Whitney during the fourth quarter valued at approximately $65,000. Finally, 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. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Stock Up 1.4%

Hancock Whitney stock traded up $0.86 during mid-day trading on Tuesday, reaching $63.54. 593,543 shares of the company were exchanged, compared to its average volume of 658,306. 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 has a market cap of $5.39 billion, a P/E ratio of 11.70 and a beta of 1.11. The business has a fifty day moving average of $59.45 and a 200 day moving average of $55.56. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $63.82.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. The business had revenue of $377.98 million for the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.During the same period last year, the business posted $1.31 EPS. Research analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share 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. Stockholders of record on Friday, September 5th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, September 5th. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. Hancock Whitney's dividend payout ratio is 33.15%.

Analyst Ratings Changes

Several research analysts have weighed in on HWC shares. Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $62.00 to $63.00 in a research report on Friday, July 11th. Piper Sandler raised their target price 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. DA Davidson boosted their price objective on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.63.

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.