Intech Investment Management LLC Sells 19,129 Shares of Hancock Whitney Corporation $HWC

Intech Investment Management LLC reduced its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 30.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,909 shares of the company’s stock after selling 19,129 shares during the period. Intech Investment Management LLC’s holdings in Hancock Whitney were worth $2,732,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Hancock Whitney by 44.4% in the third quarter. Principal Financial Group Inc. now owns 283,722 shares of the company’s stock worth $17,764,000 after purchasing an additional 87,227 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Hancock Whitney in the third quarter worth about $1,169,000. Fisher Asset Management LLC increased its stake in shares of Hancock Whitney by 26.2% in the third quarter. Fisher Asset Management LLC now owns 348,993 shares of the company’s stock worth $21,850,000 after purchasing an additional 72,433 shares during the period. Bessemer Group Inc. increased its stake in shares of Hancock Whitney by 126,754.3% in the third quarter. Bessemer Group Inc. now owns 457,944 shares of the company’s stock worth $28,671,000 after purchasing an additional 457,583 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Hancock Whitney in the fourth quarter worth about $1,094,000. 81.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total value of $28,005.72. Following the sale, the director directly owned 25,066 shares in the company, valued at approximately $1,683,432.56. This represents a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HWC. Citigroup lifted their price objective on Hancock Whitney from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings lowered Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. DA Davidson lifted their price objective on Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Zacks Research lowered Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Piper Sandler boosted their price target on Hancock Whitney from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Hancock Whitney presently has an average rating of “Moderate Buy” and an average price target of $78.14.

Hancock Whitney Trading Up 2.0%

Shares of HWC opened at $68.70 on Wednesday. Hancock Whitney Corporation has a 12-month low of $52.89 and a 12-month high of $75.43. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 14.11 and a beta of 0.95. The stock’s 50-day moving average price is $66.32 and its 200 day moving average price is $65.87.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results 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. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.The firm had revenue of $393.64 million for the quarter, compared to analyst estimates of $400.01 million. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was down 19.7% compared to the same quarter last year. As a group, research analysts predict that Hancock Whitney Corporation will post 6.47 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, June 5th. Hancock Whitney’s dividend payout ratio is currently 41.07%.

Hancock Whitney 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.