Sanctuary Advisors LLC Acquires Shares of 23,355 Hancock Whitney Corporation $HWC

Sanctuary Advisors LLC acquired a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,355 shares of the company’s stock, valued at approximately $1,745,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Hancock Whitney in the 2nd quarter worth approximately $814,839,000. Channing Capital Management LLC purchased a new stake in Hancock Whitney during the fourth quarter valued at $80,246,000. Norges Bank bought a new position in Hancock Whitney during the fourth quarter valued at $57,463,000. Bank of New York Mellon Corp purchased a new position in shares of Hancock Whitney in the 2nd quarter worth $55,605,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Hancock Whitney by 18,614.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 535,039 shares of the company’s stock worth $34,071,000 after buying an additional 532,180 shares during the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Stock Performance

HWC stock opened at $75.23 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $75.95 and its two-hundred day simple moving average is $70.19. Hancock Whitney Corporation has a twelve month low of $54.05 and a twelve month high of $80.13. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 14.75 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The firm had revenue of $403.57 million for the quarter, compared to analysts’ expectations of $398.89 million. During the same period in the prior year, the business posted $1.37 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Hancock Whitney Corporation will post 6.44 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. Stockholders of record on Friday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 4th. Hancock Whitney’s payout ratio is currently 39.22%.

Insider Buying and Selling

In related news, CFO Michael M. Achary sold 22,694 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 44,160 shares in the company, valued at approximately $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the transaction, the insider owned 15,565 shares in the company, valued at $1,189,166. The trade was a 24.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on HWC. Zacks Research lowered Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded Hancock Whitney from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Keefe, Bruyette & Woods raised their price target on Hancock Whitney from $78.00 to $80.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, Barclays increased their target price on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.78.

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.