Hancock Whitney (NASDAQ:HWC) Hits New 52-Week High - Should You Buy?

Key Points

• Hancock Whitney Corporation shares reached a new 52-week high of $64.66, last trading at $63.97, with a significant trading volume of 247,372 shares.
• Analysts are optimistic about Hancock Whitney, with several upgrades in price targets, leading to an average target price of $68.25 and a consensus rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.45, representing an annualized dividend yield of 2.9% and indicating strong financial performance with a net margin of 23.28%.

Shares of Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.66 and last traded at $63.97, with a volume of 247372 shares changing hands. The stock had previously closed at $62.59.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Hancock Whitney in a research note on Monday, September 8th. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $62.00 to $63.00 in a report on Friday, July 11th. Piper Sandler raised their target price on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Citigroup raised their target price on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Hancock Whitney presently has an average rating of "Buy" and an average price target of $70.00.

Hancock Whitney Price Performance

The firm has a market capitalization of $5.40 billion, a P/E ratio of 11.73 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $61.23 and a 200-day moving average of $56.25.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm had revenue of $377.98 million for the quarter, compared to analysts' expectations of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.During the same period in the prior year, the firm earned $1.31 EPS. As a group, analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, September 5th. Hancock Whitney's dividend payout ratio is 33.15%.

Institutional Trading of Hancock Whitney

Several institutional investors have recently added to or reduced their stakes in HWC. Norges Bank bought a new stake in Hancock Whitney in the second quarter worth about $60,224,000. Wellington Management Group LLP grew its holdings in Hancock Whitney by 50.4% in the first quarter. Wellington Management Group LLP now owns 3,057,103 shares of the company's stock worth $160,345,000 after purchasing an additional 1,024,869 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hancock Whitney in the first quarter worth $43,019,000. Nuveen LLC purchased a new position in Hancock Whitney in the first quarter worth $38,163,000. Finally, First Trust Advisors LP lifted its stake in shares of Hancock Whitney by 83.0% during the second quarter. First Trust Advisors LP now owns 850,639 shares of the company's stock worth $48,827,000 after buying an additional 385,784 shares during the period. 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.