Brokerages Set Hancock Whitney Corporation (NASDAQ:HWC) PT at $63.29

Shares of Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) have earned an average rating of "Moderate Buy" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $63.43.

Several equities research analysts have issued reports on HWC shares. DA Davidson lowered their price objective on shares of Hancock Whitney from $69.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Raymond James Financial reissued a "strong-buy" rating and issued a $62.00 price objective (down from $72.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $62.00 to $63.00 in a research report on Friday. Stephens lowered 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $70.00 price target (up previously from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th.

Insider Buying and Selling at Hancock Whitney

In related news, Director Christine L. Pickering sold 838 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $48.09, for a total transaction of $40,299.42. Following the transaction, the director directly owned 23,019 shares in the company, valued at $1,106,983.71. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.91% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Hancock Whitney in the 1st quarter worth about $31,000. Versant Capital Management Inc increased its stake 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 in the last quarter. Virtus Advisers LLC purchased a new position in Hancock Whitney in the 1st quarter worth about $41,000. Amundi purchased a new position in Hancock Whitney in the 1st quarter worth about $50,000. Finally, UMB Bank n.a. boosted its position in Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after acquiring an additional 917 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Trading Up 1.1%

Shares of NASDAQ:HWC traded up $0.65 on Friday, hitting $60.23. The company had a trading volume of 927,442 shares, compared to its average volume of 626,781. The firm's 50-day simple moving average is $56.30 and its two-hundred day simple moving average is $55.05. Hancock Whitney has a 1 year low of $43.90 and a 1 year high of $62.40. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 11.11 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. Hancock Whitney had a net margin of 23.15% and a return on equity of 11.43%. The business had revenue of $367.50 million during the quarter, compared to analyst estimates of $368.12 million. Equities analysts anticipate that Hancock Whitney will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, June 5th. Hancock Whitney's payout ratio is currently 33.21%.

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.