Hancock Whitney Co. (NASDAQ:HWC) Plans Dividend Increase - $0.40 Per Share

Hancock Whitney Co. (NASDAQ:HWC - Get Free Report) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, June 5th will be given a dividend of 0.40 per share on Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Hancock Whitney's previous quarterly dividend of $0.30.

Hancock Whitney has increased its dividend payment by an average of 3.6% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Hancock Whitney has a payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hancock Whitney to earn $5.00 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.0%.

Hancock Whitney Price Performance

Shares of HWC traded up $0.56 during trading hours on Friday, hitting $46.74. 666,278 shares of the company were exchanged, compared to its average volume of 512,407. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 10.90 and a beta of 1.33. Hancock Whitney has a fifty-two week low of $31.02 and a fifty-two week high of $49.65. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average is $43.84 and its 200 day moving average is $42.93.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HWC. Stephens reissued an "equal weight" rating and set a $50.00 target price on shares of Hancock Whitney in a report on Wednesday, April 17th. DA Davidson upped their price objective on Hancock Whitney from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Citigroup upgraded Hancock Whitney from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $48.00 to $50.00 in a research report on Wednesday, April 17th. Truist Financial dropped their price objective on Hancock Whitney from $50.00 to $46.00 and set a "hold" rating for the company in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group dropped their price objective on Hancock Whitney from $51.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.71.

Insider Buying and Selling at Hancock Whitney

In other Hancock Whitney news, insider Christopher S. Ziluca sold 3,636 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $43.50, for a total value of $158,166.00. Following the completion of the transaction, the insider now directly owns 35,285 shares in the company, valued at $1,534,897.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% 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.