The Manufacturers Life Insurance Company Sells 12,307 Shares of Hancock Whitney Co. (NASDAQ:HWC)

The Manufacturers Life Insurance Company lessened its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 597,020 shares of the company's stock after selling 12,307 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.69% of Hancock Whitney worth $32,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position 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 valued at $28,227,000 after purchasing an additional 96,092 shares during the period. Proficio Capital Partners LLC acquired a new position in Hancock Whitney during the fourth quarter worth about $1,096,000. Charles Schwab Investment Management Inc. raised its position in Hancock Whitney by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,228,710 shares of the company's stock worth $67,235,000 after acquiring an additional 73,875 shares in the last quarter. Headlands Technologies LLC lifted 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 valued at $710,000 after acquiring an additional 7,466 shares during the last quarter. Finally, Inman Jager Wealth Management LLC acquired a new stake in Hancock Whitney in the 4th quarter valued at about $696,000. Institutional investors own 81.22% of the company's stock.

Insider Activity at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $48.09, for a total transaction of $40,299.42. Following the transaction, the director now directly owns 23,019 shares of the company's stock, valued at $1,106,983.71. This represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.91% of the stock is currently owned by company insiders.

Hancock Whitney Stock Down 0.3 %

HWC traded down $0.14 on Monday, reaching $53.94. 540,526 shares of the company traded hands, compared to its average volume of 584,889. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 10.22 and a beta of 1.05. 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 stock's 50 day moving average price is $51.22 and its 200-day moving average price is $55.13. Hancock Whitney Co. has a 52-week low of $43.60 and a 52-week high of $62.40.

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

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.80 annualized dividend and a dividend yield of 3.34%. Hancock Whitney's dividend payout ratio is 33.21%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. DA Davidson dropped their target price on shares of Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. StockNews.com upgraded Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Piper Sandler restated an "overweight" rating and issued a $70.00 target price (up from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Stephens cut their target price on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $62.00 price target (down previously from $72.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.56.

Hancock Whitney Company 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.