40,744 Shares in Hancock Whitney Corporation $HWC Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in Hancock Whitney Corporation (NASDAQ:HWC) in the second quarter, HoldingsChannel reports. The institutional investor acquired 40,744 shares of the company’s stock, valued at approximately $3,051,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc bought a new position in shares of Hancock Whitney in the 2nd quarter worth about $8,012,000. The Manufacturers Life Insurance Company bought a new stake in shares of Hancock Whitney during the 2nd quarter valued at about $40,112,000. Sanctuary Advisors LLC acquired a new stake in Hancock Whitney during the second quarter worth about $1,380,000. Pinnacle Holdings LLC bought a new position in Hancock Whitney in the second quarter worth about $464,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Hancock Whitney in the second quarter worth about $637,000. 81.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the transaction, the insider owned 15,565 shares of the company’s stock, valued at approximately $1,189,166. This trade represents a 24.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $1,728,828.92. Following the sale, the chief financial officer owned 44,160 shares in the company, valued at $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.92% of the company’s stock.

Hancock Whitney Stock Up 0.1%

HWC opened at $75.07 on Friday. The stock’s 50 day moving average price is $76.14 and its 200 day moving average price is $70.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $6.02 billion, a P/E ratio of 14.72 and a beta of 0.95. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $80.13.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) 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 company had revenue of $403.57 million during the quarter, compared to analyst estimates of $398.89 million. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that Hancock Whitney Corporation will post 6.44 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 annualized dividend and a yield of 2.7%. Hancock Whitney’s dividend payout ratio is presently 39.22%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stephens lowered their target price on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Benchmark boosted their price objective on Hancock Whitney from $84.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price objective on Hancock Whitney from $78.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Wall Street Zen raised Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.