Glenmede Trust Co. NA Sells 23,466 Shares of Hancock Whitney Corporation $HWC

Glenmede Trust Co. NA lowered its stake in Hancock Whitney Corporation (NASDAQ:HWC) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,299 shares of the company’s stock after selling 23,466 shares during the quarter. Glenmede Trust Co. NA’s holdings in Hancock Whitney were worth $16,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HWC. Dimensional Fund Advisors LP boosted its position in Hancock Whitney by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,790,954 shares of the company’s stock valued at $304,652,000 after purchasing an additional 21,655 shares during the last quarter. State Street Corp grew its stake in Hancock Whitney by 2.9% in the fourth quarter. State Street Corp now owns 4,521,593 shares of the company’s stock valued at $287,935,000 after purchasing an additional 126,367 shares in the last quarter. Channing Capital Management LLC acquired a new position in shares of Hancock Whitney during the 4th quarter worth approximately $80,246,000. Goldman Sachs Group Inc. increased its position in shares of Hancock Whitney by 21.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 920,152 shares of the company’s stock worth $58,595,000 after purchasing an additional 162,482 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Hancock Whitney by 134.3% during the 3rd quarter. UBS Group AG now owns 909,460 shares of the company’s stock worth $56,941,000 after purchasing an additional 521,261 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

Insider Buying and Selling at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction 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 transaction, the director owned 25,066 shares in the company, valued at approximately $1,683,432.56. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Achary sold 22,694 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $76.18, for a total value of $1,728,828.92. Following the transaction, the chief financial officer directly owned 44,160 shares of the company’s stock, valued at $3,364,108.80. This trade represents a 33.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.92% of the company’s stock.

Hancock Whitney Stock Performance

HWC opened at $77.00 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a 12-month low of $54.05 and a 12-month high of $79.36. The business has a 50 day moving average of $73.05 and a 200-day moving average of $69.12. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 15.10 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. During the same period in the previous year, the firm earned $1.37 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Hancock Whitney Corporation will post 6.45 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Hancock Whitney’s dividend payout ratio is currently 39.22%.

Analyst Ratings Changes

Several research firms have recently commented on HWC. DA Davidson increased their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. Benchmark boosted their target price on shares of Hancock Whitney from $84.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on shares of Hancock Whitney from $78.00 to $80.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.56.

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.