Hancock Whitney (NASDAQ:HWC) CFO Michael Achary Sells 9,894 Shares

Key Points

• Michael Achary, CFO of Hancock Whitney, sold 9,894 shares of the company's stock for approximately $542,784.84, reducing his ownership by 15.08%.
• The company reported $1.49 EPS for the last quarter, beating analysts' expectations of $1.43 EPS.
• Hancock Whitney announced a quarterly dividend of $0.45 per share, representing an annualized yield of 3.2% with a payout ratio of 32.20%.

Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) CFO Michael Achary sold 9,894 shares of the business's stock in a transaction on Friday, October 17th. The stock was sold at an average price of $54.86, for a total transaction of $542,784.84. Following the completion of the sale, the chief financial officer owned 55,733 shares of the company's stock, valued at $3,057,512.38. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock traded up $1.30 on Monday, reaching $56.57. The stock had a trading volume of 723,796 shares, compared to its average volume of 751,100. The business's 50-day moving average price is $61.92 and its two-hundred day moving average price is $57.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. Hancock Whitney Corporation has a fifty-two week low of $43.90 and a fifty-two week high of $64.66. The stock has a market cap of $4.79 billion, a P/E ratio of 10.12 and a beta of 1.11.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. Hancock Whitney had a net margin of 23.99% and a return on equity of 11.29%. The business had revenue of $0.03 million during the quarter, compared to analysts' expectations of $391.32 million. During the same period in the previous year, the company earned $1.33 earnings per share. On average, sell-side analysts forecast that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a yield of 3.2%. Hancock Whitney's payout ratio is 32.20%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HWC. True Wealth Design LLC boosted its stake in shares of Hancock Whitney by 929.5% in the 2nd quarter. True Wealth Design LLC now owns 453 shares of the company's stock valued at $26,000 after purchasing an additional 409 shares during the last quarter. Brooklyn Investment Group acquired a new position in Hancock Whitney in the first quarter valued at approximately $31,000. Virtus Advisers LLC acquired a new position in Hancock Whitney in the first quarter valued at approximately $41,000. Hantz Financial Services Inc. lifted its holdings in Hancock Whitney by 6,107.7% in the second quarter. Hantz Financial Services Inc. now owns 807 shares of the company's stock valued at $46,000 after buying an additional 794 shares during the period. Finally, Amundi acquired a new position in Hancock Whitney in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $62.00 to $63.00 in a research report on Friday, July 11th. Piper Sandler boosted their price target on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial lowered their price target on shares of Hancock Whitney from $73.00 to $72.00 and set a "strong-buy" rating on the stock in a report on Wednesday, October 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of Hancock Whitney in a report on Wednesday, October 8th. Finally, Hovde Group boosted their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $69.86.

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.

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