Hancock Whitney (NASDAQ:HWC) Reaches New 52-Week High - Here's What Happened

Key Points

• Hancock Whitney Corporation (NASDAQ:HWC) reached a new 52-week high at $62.90 during trading, with shares last trading at $60.83.
• Analysts have mixed ratings for Hancock Whitney, with one downgrade to "sell," alongside several upgrades, resulting in an average target price of $66.71.
• The company declared a quarterly dividend of $0.45 per share, which will be payable on September 15th, representing an annualized yield of 2.95%.

Shares of Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $62.90 and last traded at $60.83, with a volume of 15528 shares. The stock had previously closed at $60.86.

Analysts Set New Price Targets

HWC has been the topic of a number of research reports. Wall Street Zen lowered shares of Hancock Whitney from a "hold" rating to a "sell" rating in a report on Saturday. DA Davidson raised their price objective on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods downgraded shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and increased their target price for the company from $62.00 to $63.00 in a research report on Friday, July 11th. Piper Sandler raised their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $66.71.

Hancock Whitney Stock Up 0.1%

The firm has a market capitalization of $5.22 billion, a PE ratio of 11.23 and a beta of 1.05. The firm's 50 day moving average price is $57.07 and its two-hundred day moving average price is $55.37. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings data 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 net margin of 23.28% and a return on equity of 11.21%. The firm had revenue of $377.98 million for the quarter, compared to the consensus estimate of $375.99 million. During the same period in the prior year, the firm posted $1.31 EPS. As a group, research analysts forecast that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.95%. Hancock Whitney's payout ratio is currently 33.15%.

Institutional Trading of Hancock Whitney

A number of large investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Hancock Whitney during the 1st quarter valued at about $31,000. Versant Capital Management Inc increased its stake in Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock valued at $37,000 after buying an additional 599 shares during the period. Virtus Advisers LLC bought a new position in shares of Hancock Whitney during the 1st quarter valued at about $41,000. Amundi bought a new position in shares of Hancock Whitney during the 1st quarter valued at about $50,000. Finally, UMB Bank n.a. boosted its position in shares of Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after purchasing an additional 917 shares in the last quarter. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Company Profile

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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