LSV Asset Management Trims Stake in Hancock Whitney Corporation $HWC

LSV Asset Management decreased its position in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 6.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 594,300 shares of the company’s stock after selling 41,156 shares during the period. LSV Asset Management’s holdings in Hancock Whitney were worth $37,845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Hancock Whitney during the 4th quarter worth approximately $32,000. IFP Advisors Inc grew its holdings in shares of Hancock Whitney by 67.6% during the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after acquiring an additional 253 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hancock Whitney during the 3rd quarter worth approximately $45,000. Amundi purchased a new position in shares of Hancock Whitney during the 1st quarter worth approximately $50,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Hancock Whitney by 84,400.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company’s stock worth $53,000 after acquiring an additional 844 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. DA Davidson upped their target price on Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Weiss Ratings downgraded Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Piper Sandler upped their target price on Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Zacks Research cut Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.14.

Hancock Whitney Stock Performance

HWC stock opened at $67.50 on Monday. The stock has a market capitalization of $5.48 billion, a PE ratio of 13.86 and a beta of 0.97. Hancock Whitney Corporation has a 12-month low of $52.89 and a 12-month high of $75.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $65.59 and its 200 day simple moving average is $65.48.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.04. The business had revenue of $393.64 million for the quarter, compared to analysts’ expectations of $400.01 million. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.The firm’s quarterly revenue was down 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS. As a group, research analysts forecast that Hancock Whitney Corporation will post 6.47 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. Hancock Whitney’s payout ratio is currently 41.07%.

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.