Wellington Management Group LLP Decreases Stock Position in Hancock Whitney Corporation $HWC

Wellington Management Group LLP lessened its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,542,671 shares of the company’s stock after selling 229,295 shares during the period. Wellington Management Group LLP owned 1.92% of Hancock Whitney worth $115,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of Hancock Whitney in the second quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new stake in Hancock Whitney in the fourth quarter worth $35,000. Root Financial Partners LLC raised its stake in Hancock Whitney by 70.9% during the first quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock valued at $39,000 after purchasing an additional 254 shares in the last quarter. IFP Advisors Inc raised its stake in Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after purchasing an additional 253 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Hancock Whitney during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Performance

Shares of NASDAQ:HWC opened at $73.24 on Wednesday. The firm has a 50 day moving average of $76.24 and a 200 day moving average of $70.23. 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 company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 14.36 and a beta of 0.94. Hancock Whitney Corporation has a 52 week low of $54.05 and a 52 week 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, meeting analysts’ consensus estimates of $1.55. The business had revenue of $403.57 million for the quarter, compared to the consensus estimate of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.37 EPS. On average, sell-side analysts predict that Hancock Whitney Corporation will post 6.44 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s payout ratio is 39.22%.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the completion of the transaction, the insider directly owned 15,565 shares in the company, valued at approximately $1,189,166. The trade was a 24.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the sale, the chief financial officer directly owned 44,160 shares of the company’s stock, valued at approximately $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on HWC. Wall Street Zen raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Citigroup restated a “buy” rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Stephens dropped their price target on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Finally, DA Davidson upped their price target on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.