Envestnet Asset Management Inc. Decreases Stock Position in Hancock Whitney Co. (NASDAQ:HWC)

Envestnet Asset Management Inc. cut its holdings in Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,141 shares of the company's stock after selling 10,112 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Hancock Whitney worth $3,291,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Hancock Whitney by 21.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 551,636 shares of the company's stock worth $28,227,000 after acquiring an additional 96,092 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Hancock Whitney in the fourth quarter worth about $1,096,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Hancock Whitney by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,228,710 shares of the company's stock valued at $67,235,000 after buying an additional 73,875 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Hancock Whitney by 135.4% in the 4th quarter. Headlands Technologies LLC now owns 12,981 shares of the company's stock worth $710,000 after buying an additional 7,466 shares during the period. Finally, Inman Jager Wealth Management LLC purchased a new position in Hancock Whitney in the 4th quarter valued at approximately $696,000. Institutional investors own 81.22% of the company's stock.

Hancock Whitney Price Performance

Shares of HWC stock traded down $0.78 during trading hours on Wednesday, hitting $52.09. 741,882 shares of the company's stock were exchanged, compared to its average volume of 582,871. Hancock Whitney Co. has a 12-month low of $43.60 and a 12-month high of $62.40. The company has a market capitalization of $4.49 billion, a PE ratio of 9.87 and a beta of 0.99. The business's 50 day simple moving average is $51.33 and its 200-day simple moving average is $55.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. The company had revenue of $367.50 million during the quarter, compared to analyst estimates of $368.12 million. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. On average, equities research analysts anticipate that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.46%. The ex-dividend date is Thursday, June 5th. Hancock Whitney's dividend payout ratio (DPR) is currently 33.21%.

Insider Transactions at Hancock Whitney

In other news, Director Christine L. Pickering sold 838 shares of Hancock Whitney stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $48.09, for a total transaction of $40,299.42. Following the sale, the director now owns 23,019 shares of the company's stock, valued at approximately $1,106,983.71. The trade was a 3.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on HWC shares. Piper Sandler reiterated an "overweight" rating and set a $70.00 price objective (up from $68.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Stephens cut their price objective on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Raymond James reiterated a "strong-buy" rating and issued a $62.00 target price (down from $72.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price target on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, StockNews.com upgraded Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $60.56.

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.