Hancock Whitney (NASDAQ:HWC) Hits New 52-Week High - Still a Buy?

Key Points

• Hancock Whitney shares hit a new 52-week high of $75.63, and the stock was up about 1.8% in midday trading, signaling strong recent momentum.
• Analyst sentiment remains mostly positive: the stock carries an average “Moderate Buy” rating with a consensus price target of $79.25, though some firms have recently downgraded or mixed their views.
• The company posted solid fundamentals, including Q1 earnings of $1.52 per share versus $1.48 expected and a quarterly dividend of $0.50 per share, equal to a 2.6% annualized yield.

Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $75.63 and last traded at $75.4880, with a volume of 55592 shares trading hands. The stock had previously closed at $74.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HWC shares. Citigroup lifted their price target on shares of Hancock Whitney from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Weiss Ratings lowered shares of Hancock Whitney from a "buy (b)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. Piper Sandler lifted their target price on shares of Hancock Whitney from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Zacks Research cut shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 23rd. Finally, Benchmark assumed coverage on Hancock Whitney in a report on Wednesday, June 24th. They issued a "buy" rating and a $84.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.25.

Hancock Whitney Stock Up 1.8%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $6.17 billion, a PE ratio of 15.64 and a beta of 0.95. The firm has a fifty day simple moving average of $68.91 and a 200 day simple moving average of $67.45.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.04. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The business had revenue of $393.64 million for the quarter, compared to analyst estimates of $400.01 million. During the same period in the prior year, the firm posted $1.38 EPS. The company's revenue was down 19.7% on a year-over-year basis. Equities research analysts predict that Hancock Whitney Corporation will post 6.47 EPS for the current year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Hancock Whitney's dividend payout ratio (DPR) is currently 41.07%.

Insider Buying and Selling at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total value of $28,005.72. Following the transaction, the director owned 25,066 shares in the company, valued at $1,683,432.56. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi purchased a new stake in Hancock Whitney during the first quarter valued at about $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 purchasing an additional 2,255 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of 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 purchasing an additional 700 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Hancock Whitney by 4.2% during the 1st 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 purchasing an additional 11,551 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Hancock Whitney by 951.9% during the 1st quarter. Jane Street Group LLC now owns 123,812 shares of the company's stock worth $6,494,000 after purchasing an additional 112,042 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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