Hancock Whitney (NASDAQ:HWC) Issues Earnings Results

Hancock Whitney (NASDAQ:HWC - Get Free Report) posted its earnings results on Tuesday. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.01, Zacks reports. Hancock Whitney had a return on equity of 11.33% and a net margin of 23.28%. The business had revenue of $377.98 million during the quarter, compared to analyst estimates of $375.99 million. During the same quarter in the previous year, the firm earned $1.31 EPS.

Hancock Whitney Stock Performance

NASDAQ HWC traded up $0.82 during trading hours on Thursday, reaching $60.24. The stock had a trading volume of 1,163,865 shares, compared to its average volume of 721,898. The stock has a fifty day moving average of $56.51 and a 200 day moving average of $55.10. The stock has a market cap of $5.16 billion, a P/E ratio of 11.09 and a beta of 1.05. Hancock Whitney has a 52-week low of $43.90 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82.

Hancock Whitney Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.80 annualized dividend and a yield of 2.99%. Hancock Whitney's payout ratio is presently 33.15%.

Wall Street Analyst Weigh In

HWC has been the subject of a number of research reports. Keefe, Bruyette & Woods cut shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $62.00 to $63.00 in a research note on Friday, July 11th. DA Davidson upped their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday. Hovde Group upped their target price on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler increased their price objective on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a report on Wednesday. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.71.

Insider Activity at Hancock Whitney

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

Hedge Funds Weigh In On Hancock Whitney

A number of hedge funds have recently bought and sold shares of the business. Amundi purchased a new position in Hancock Whitney during the first quarter valued at $50,000. NewEdge Advisors LLC lifted its stake in Hancock Whitney by 22.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company's stock valued at $197,000 after buying an additional 700 shares in the last quarter. Focus Partners Wealth lifted its stake in Hancock Whitney by 3.7% in the 1st quarter. Focus Partners Wealth now owns 10,216 shares of the company's stock valued at $536,000 after buying an additional 362 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hancock Whitney by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company's stock valued at $2,710,000 after buying an additional 2,255 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Hancock Whitney by 951.9% in the first quarter. Jane Street Group LLC now owns 123,812 shares of the company's stock valued at $6,494,000 after acquiring an additional 112,042 shares in the last quarter. Hedge funds and other institutional investors 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.