Hancock Whitney (NASDAQ:HWC) Shares Gap Down - Should You Sell?

Key Points

• Hancock Whitney shares initially fell, opening at $73.46 versus a prior close of $77.00, but later traded near $77.78. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $83.78.
• The bank reported solid quarterly results, matching expectations with $1.55 in EPS and exceeding revenue estimates with $403.57 million, up 6.9% year over year. Its return on equity was 11.36% and net margin was 21.81%.
• Hancock Whitney declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 2.6% yield. However, the CFO recently sold 22,694 shares, reducing his holdings by nearly 34%.

Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $77.00, but opened at $73.46. Hancock Whitney shares last traded at $77.7830, with a volume of 114,654 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Hancock Whitney from $78.00 to $80.00 and gave the stock a "market perform" rating in a report on Wednesday, July 22nd. Citigroup restated a "buy" rating on shares of Hancock Whitney in a report on Thursday, July 23rd. Wall Street Zen downgraded shares of Hancock Whitney from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. DA Davidson boosted their price objective on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a report on Monday, May 18th. Finally, Benchmark boosted their target price on Hancock Whitney from $84.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Hancock Whitney has a consensus rating of "Moderate Buy" and an average price target of $83.78.

Hancock Whitney Stock Up 1.0%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.79. The business's 50 day moving average is $73.05 and its 200-day moving average is $69.12. The company has a market cap of $6.31 billion, a PE ratio of 15.25 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The firm had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. During the same quarter in the prior year, the company posted $1.37 earnings per share. Hancock Whitney's revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts predict that Hancock Whitney Corporation will post 6.45 EPS for the current year.

Hancock Whitney Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. Hancock Whitney's dividend payout ratio is presently 39.22%.

Insider Buying and Selling at Hancock Whitney

In other news, CFO Michael M. Achary sold 22,694 shares of Hancock Whitney stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the sale, the chief financial officer owned 44,160 shares in the company, valued at approximately $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $67.16, for a total value of $28,005.72. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Hancock Whitney by 8.3% in the second quarter. GAMMA Investing LLC now owns 1,909 shares of the company's stock valued at $143,000 after buying an additional 147 shares during the last quarter. SG Americas Securities LLC boosted its stake in Hancock Whitney by 0.6% during the 1st quarter. SG Americas Securities LLC now owns 24,457 shares of the company's stock worth $1,555,000 after purchasing an additional 153 shares during the period. Vident Advisory LLC increased its position in Hancock Whitney by 4.5% in the 4th quarter. Vident Advisory LLC now owns 3,517 shares of the company's stock valued at $224,000 after acquiring an additional 153 shares during the period. BTC Capital Management Inc. raised its stake in Hancock Whitney by 1.9% during the 1st quarter. BTC Capital Management Inc. now owns 8,472 shares of the company's stock valued at $539,000 after acquiring an additional 162 shares during the last quarter. Finally, Hilton Head Capital Partners LLC raised its stake in Hancock Whitney by 31.0% during the 1st quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company's stock valued at $46,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 81.22% of the company's stock.

About Hancock Whitney

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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