Hancock Whitney Corporation (NASDAQ:HWC) to Issue Quarterly Dividend of $0.45

Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Friday, September 5th will be given a dividend of 0.45 per share on Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, September 5th.

Hancock Whitney has a payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hancock Whitney to earn $5.67 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 31.7%.

Hancock Whitney Price Performance

NASDAQ HWC traded down $0.17 during trading hours on Monday, reaching $60.69. The company's stock had a trading volume of 639,340 shares, compared to its average volume of 870,048. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 11.18 and a beta of 1.05. Hancock Whitney has a 1-year low of $43.90 and a 1-year high of $62.90. 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's 50-day moving average is $57.14 and its two-hundred day moving average is $55.42.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Hovde Group increased their target price on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wall Street Zen cut Hancock Whitney from a "hold" rating to a "sell" rating in a report on Saturday. DA Davidson increased their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler increased their target price on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Stephens cut their price target on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Hancock Whitney has an average rating of "Moderate Buy" and a consensus price target of $66.71.

Institutional Investors Weigh In On Hancock Whitney

Several hedge funds and other institutional investors have recently made changes to their positions in HWC. Amundi acquired a new stake in shares of Hancock Whitney in the first quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hancock Whitney by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company's stock worth $2,710,000 after acquiring an additional 2,255 shares during the period. NewEdge Advisors LLC grew its position in Hancock Whitney by 22.9% in the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company's stock worth $197,000 after acquiring an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Hancock Whitney by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company's stock worth $15,078,000 after acquiring an additional 11,551 shares during the period. Finally, Jane Street Group LLC grew its position in Hancock Whitney by 951.9% in the first quarter. Jane Street Group LLC now owns 123,812 shares of the company's stock worth $6,494,000 after acquiring an additional 112,042 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

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.