Bessemer Group Inc. Has $28.67 Million Stock Position in Hancock Whitney Corporation $HWC

Bessemer Group Inc. boosted its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 126,754.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 457,944 shares of the company’s stock after acquiring an additional 457,583 shares during the quarter. Bessemer Group Inc. owned approximately 0.54% of Hancock Whitney worth $28,671,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Amundi bought a new stake in shares of Hancock Whitney during the first quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hancock Whitney by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock valued at $2,710,000 after buying an additional 2,255 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Hancock Whitney by 22.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock valued at $197,000 after buying an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Hancock Whitney by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company’s stock worth $15,078,000 after acquiring an additional 11,551 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Hancock Whitney by 951.9% during the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock valued at $6,494,000 after acquiring an additional 112,042 shares during the period. 81.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Hancock Whitney

In other news, insider Christopher S. Ziluca sold 5,227 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $68.57, for a total value of $358,415.39. Following the completion of the transaction, the insider owned 33,301 shares in the company, valued at $2,283,449.57. This represents a 13.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HWC shares. Wall Street Zen upgraded Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Piper Sandler lifted their price target on shares of Hancock Whitney from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Zacks Research raised shares of Hancock Whitney from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Raymond James Financial upped their target price on shares of Hancock Whitney from $72.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Citigroup raised their price target on Hancock Whitney from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $75.25.

Hancock Whitney Price Performance

Shares of HWC stock opened at $74.41 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $75.43. The firm has a fifty day moving average of $66.70 and a 200-day moving average of $62.52. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.10 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, January 20th. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The firm had revenue of $81.55 million for the quarter, compared to analyst estimates of $391.63 million. Hancock Whitney had a return on equity of 11.16% and a net margin of 24.05%.During the same period in the previous year, the company posted $1.40 earnings per share. On average, equities research analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.50 per share. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 5th. This represents a $2.00 annualized dividend and a yield of 2.7%. Hancock Whitney’s dividend payout ratio is 31.69%.

Hancock Whitney Company Profile

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.