Hancock Whitney (NASDAQ:HWC) Sets New 1-Year High on Analyst Upgrade

Hancock Whitney Corporation (NASDAQ:HWC) shares reached a new 52-week high during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $71.50 and last traded at $70.9860, with a volume of 259923 shares traded. The stock had previously closed at $69.74.

Several other equities analysts also recently commented on HWC. Weiss Ratings restated a “buy (b)” rating on shares of Hancock Whitney in a research note on Monday, December 29th. Citigroup increased their target price on shares of Hancock Whitney from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Raymond James Financial lifted their price target 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. Keefe, Bruyette & Woods increased their price target on Hancock Whitney from $70.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Finally, Barclays assumed coverage on Hancock Whitney in a report on Wednesday, December 17th. They issued an “overweight” rating and a $76.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $75.25.

Insider Activity

In other news, insider Christopher S. Ziluca sold 5,227 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,283,449.57. This represents a 13.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in Hancock Whitney by 929.5% in the second quarter. True Wealth Design LLC now owns 453 shares of the company’s stock valued at $26,000 after buying an additional 409 shares during the period. Torren Management LLC acquired a new position in shares of Hancock Whitney in the 4th quarter valued at about $32,000. IFP Advisors Inc lifted its stake in shares of Hancock Whitney by 67.6% in the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hancock Whitney during the 3rd quarter valued at about $45,000. Finally, Hantz Financial Services Inc. grew its stake in Hancock Whitney by 6,107.7% during the second quarter. Hantz Financial Services Inc. now owns 807 shares of the company’s stock worth $46,000 after purchasing an additional 794 shares during the period. Institutional investors and hedge funds own 81.22% of the company’s stock.

Hancock Whitney Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.78. The stock has a fifty day simple moving average of $66.43 and a two-hundred day simple moving average of $62.42. The firm has a market capitalization of $6.16 billion, a P/E ratio of 12.98 and a beta of 1.05.

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

Hancock Whitney Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Thursday, March 5th will be paid 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 dividend on an annualized basis and a yield of 2.7%. Hancock Whitney’s dividend payout ratio (DPR) is presently 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.