Y Intercept Hong Kong Ltd Invests $1.71 Million in Hancock Whitney Corporation $HWC

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in Hancock Whitney, buying 26,948 shares worth about $1.71 million.
• Hancock Whitney reported better-than-expected quarterly EPS of $1.52 versus $1.48 expected, though revenue came in below forecasts and fell 19.7% from a year earlier.
• The bank also paid a quarterly dividend of $0.50 per share, equal to a 2.7% annualized yield, while analysts currently maintain a Buy consensus with an average price target of $80.50.

Y Intercept Hong Kong Ltd acquired a new stake in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,948 shares of the company's stock, valued at approximately $1,714,000.

A number of other large investors have also made changes to their positions in HWC. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Hancock Whitney during the 4th quarter worth about $1,094,000. WINTON GROUP Ltd acquired a new position in shares of Hancock Whitney in the fourth quarter valued at approximately $6,070,000. Schroder Investment Management Group acquired a new position in shares of Hancock Whitney in the third quarter valued at approximately $23,457,000. Burns Matteson Capital Management LLC purchased a new position in shares of Hancock Whitney during the fourth quarter valued at approximately $576,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Hancock Whitney during the first quarter valued at approximately $1,520,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $74.94 on Friday. The company has a market cap of $6.08 billion, a P/E ratio of 15.39 and a beta of 0.95. The firm's 50 day moving average is $69.87 and its two-hundred day moving average is $67.89. Hancock Whitney Corporation has a fifty-two week low of $54.05 and a fifty-two week high of $76.39. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.04. The company had revenue of $393.64 million during the quarter, compared to analysts' expectations of $400.01 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The business's quarterly revenue was down 19.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 EPS. Analysts expect that Hancock Whitney Corporation will post 6.47 EPS for the current year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, June 5th. Hancock Whitney's payout ratio is 41.07%.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 417 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the completion of the sale, the director directly owned 25,066 shares in the company, valued at $1,683,432.56. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HWC. Benchmark initiated coverage on shares of Hancock Whitney in a research note on Wednesday, June 24th. They issued a "buy" rating and a $84.00 target price for the company. Keefe, Bruyette & Woods increased their price target on Hancock Whitney from $72.00 to $78.00 and gave the stock a "market perform" rating in a research note on Thursday. Zacks Research upgraded Hancock Whitney from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Piper Sandler lifted their price objective on Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $80.50.

Hancock Whitney Company Profile

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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