Hancock Whitney (NASDAQ:HWC) Price Target Cut to $46.00

Hancock Whitney (NASDAQ:HWC) had its price target cut by Truist Financial from $50.00 to $46.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group dropped their target price on Hancock Whitney from $51.00 to $45.00 and set a hold rating on the stock in a report on Monday, April 8th. Piper Sandler reiterated an overweight rating and set a $52.00 target price (down previously from $55.00) on shares of Hancock Whitney in a report on Wednesday. Raymond James upped their target price on Hancock Whitney from $45.00 to $55.00 and gave the stock an outperform rating in a report on Friday, January 5th. Stephens reiterated an equal weight rating and set a $50.00 target price on shares of Hancock Whitney in a report on Wednesday. Finally, DA Davidson boosted their price target on Hancock Whitney from $55.00 to $57.00 and gave the stock a buy rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $50.71.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $44.27 on Wednesday. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 10.32 and a beta of 1.33. The stock’s 50-day moving average is $43.58 and its 200-day moving average is $42.49. Hancock Whitney has a one year low of $31.02 and a one year high of $49.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.81.

Hancock Whitney (NASDAQ:HWC) last released its earnings results on Tuesday, January 16th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. Hancock Whitney had a return on equity of 11.89% and a net margin of 19.07%. The business had revenue of $308.41 million for the quarter, compared to analyst estimates of $355.51 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. Equities analysts predict that Hancock Whitney will post 4.82 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Monday, March 4th. Hancock Whitney’s dividend payout ratio (DPR) is presently 27.97%.

Insiders Place Their Bets

In other news, insider Joseph S. Exnicios sold 9,857 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $47.15, for a total value of $464,757.55. Following the transaction, the insider now owns 30,159 shares of the company’s stock, valued at $1,421,996.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph S. Exnicios sold 9,857 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $47.15, for a total value of $464,757.55. Following the transaction, the insider now owns 30,159 shares of the company’s stock, valued at $1,421,996.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher S. Ziluca sold 3,636 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 approximately $1,534,897.50. The disclosure for this sale can be found here. Insiders have sold a total of 31,183 shares of company stock valued at $1,450,992 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hancock Whitney

Several institutional investors and hedge funds have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Hancock Whitney during the fourth quarter worth approximately $29,000. Sunbelt Securities Inc. grew its position in Hancock Whitney by 136.8% during the second quarter. Sunbelt Securities Inc. now owns 1,011 shares of the company’s stock worth $39,000 after buying an additional 584 shares in the last quarter. Covestor Ltd grew its position in Hancock Whitney by 81.0% during the first quarter. Covestor Ltd now owns 760 shares of the company’s stock worth $40,000 after buying an additional 340 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Hancock Whitney during the fourth quarter worth approximately $45,000. Finally, Lazard Asset Management LLC grew its position in Hancock Whitney by 151.1% during the first quarter. Lazard Asset Management LLC now owns 904 shares of the company’s stock worth $47,000 after buying an additional 544 shares in the last quarter. Institutional investors and hedge funds 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.