Hancock Whitney (NASDAQ:HWC) Sets New 52-Week High After Dividend Announcement

Hancock Whitney Co. (NASDAQ:HWC) shares hit a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $57.11 and last traded at $57.04, with a volume of 98312 shares changing hands. The stock had previously closed at $55.14.

The newly announced dividend which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. Hancock Whitney’s dividend payout ratio is currently 37.30%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HWC. Citigroup raised their price objective on shares of Hancock Whitney from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Stephens restated an “equal weight” rating and set a $50.00 price objective on shares of Hancock Whitney in a report on Wednesday, April 17th. Jefferies Financial Group decreased their price objective on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Hovde Group raised their price objective on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Truist Financial raised their price objective on shares of Hancock Whitney from $49.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.78.

Hancock Whitney Price Performance

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 stock has a market cap of $4.95 billion, a P/E ratio of 13.31 and a beta of 1.29. The business’s 50-day simple moving average is $47.84 and its two-hundred day simple moving average is $45.83.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, July 16th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The company had revenue of $359.60 million during the quarter, compared to analyst estimates of $359.11 million. During the same period last year, the business earned $1.35 earnings per share. Hancock Whitney’s revenue was up .7% compared to the same quarter last year. Sell-side analysts expect that Hancock Whitney Co. will post 5.1 EPS for the current year.

Insider Activity

In other news, insider Cecil W. Knight, Jr. sold 844 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the transaction, the insider now directly owns 58,843 shares in the company, valued at $2,755,029.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Hancock Whitney news, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total transaction of $39,516.08. Following the completion of the sale, the insider now directly owns 58,843 shares in the company, valued at $2,755,029.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christine L. Pickering sold 1,300 shares of Hancock Whitney stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $45.62, for a total transaction of $59,306.00. Following the sale, the director now owns 23,982 shares of the company’s stock, valued at $1,094,058.84. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hancock Whitney

Several hedge funds have recently bought and sold shares of HWC. Pacer Advisors Inc. lifted its position in Hancock Whitney by 79.5% during the fourth quarter. Pacer Advisors Inc. now owns 12,951 shares of the company’s stock valued at $629,000 after purchasing an additional 5,734 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Hancock Whitney by 32.4% during the fourth quarter. Blue Trust Inc. now owns 2,569 shares of the company’s stock worth $125,000 after acquiring an additional 628 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Hancock Whitney by 13.1% during the fourth quarter. AlphaMark Advisors LLC now owns 6,836 shares of the company’s stock worth $332,000 after acquiring an additional 792 shares in the last quarter. LVZ Inc. raised its stake in shares of Hancock Whitney by 10.0% during the fourth quarter. LVZ Inc. now owns 10,185 shares of the company’s stock worth $495,000 after acquiring an additional 930 shares in the last quarter. Finally, Trust Point Inc. purchased a new position in shares of Hancock Whitney during the fourth quarter worth approximately $216,000. 81.22% of the stock is currently owned by institutional investors.

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.