Man Group plc Makes New Investment in Hancock Whitney Corporation $HWC

Man Group plc acquired a new stake in Hancock Whitney Corporation (NASDAQ:HWC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,265 shares of the company’s stock, valued at approximately $543,000.

A number of other institutional investors also recently modified their holdings of HWC. Allworth Financial LP purchased a new position in shares of Hancock Whitney in the 2nd quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new stake in Hancock Whitney in the fourth quarter worth $35,000. Root Financial Partners LLC raised its holdings in Hancock Whitney by 70.9% in the first quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock worth $39,000 after purchasing an additional 254 shares in the last quarter. IFP Advisors Inc raised its holdings in Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after purchasing an additional 253 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Hancock Whitney during the fourth quarter valued at $40,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HWC has been the topic of a number of recent research reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $87.00 target price on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Stephens lowered their price target on shares of Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Hancock Whitney from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Zacks Research lowered shares of Hancock Whitney from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.78.

Insider Buying and Selling at Hancock Whitney

In related news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the sale, the insider directly owned 15,565 shares of the company’s stock, valued at $1,189,166. This trade represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 44,160 shares of the company’s stock, valued at approximately $3,364,108.80. This trade represents a 33.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.92% of the company’s stock.

Hancock Whitney Stock Up 1.0%

NASDAQ:HWC opened at $75.60 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $6.06 billion, a P/E ratio of 14.82 and a beta of 0.94. Hancock Whitney Corporation has a fifty-two week low of $54.05 and a fifty-two week high of $80.13. The firm has a 50-day simple moving average of $76.31 and a two-hundred day simple moving average of $70.29.

Hancock Whitney (NASDAQ:HWC) last issued its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 the consensus estimate of $398.89 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The business’s revenue 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 fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 2.6%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s dividend payout ratio (DPR) is currently 39.22%.

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.