Hancock Whitney (NASDAQ:HWC) Announces Quarterly Earnings Results, Hits Estimates

Hancock Whitney (NASDAQ:HWC) issued its quarterly earnings results on Tuesday. The company reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55, FiscalAI reports. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The business had revenue of $403.57 million for the quarter, compared to analysts’ expectations of $398.89 million.

Hancock Whitney Stock Down 0.8%

Shares of HWC traded down $0.65 during trading hours on Tuesday, reaching $76.64. The stock had a trading volume of 1,422,207 shares, compared to its average volume of 893,085. The firm has a 50-day simple moving average of $71.16 and a 200 day simple moving average of $68.48. Hancock Whitney has a 12 month low of $54.05 and a 12 month high of $79.36. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 15.74 and a beta of 0.95.

Hancock Whitney Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, June 5th. Hancock Whitney’s dividend payout ratio is presently 41.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HWC shares. Citigroup upped their target price on Hancock Whitney from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. DA Davidson lifted their target price on Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Weiss Ratings lowered Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods increased their price target on Hancock Whitney from $72.00 to $78.00 and gave the stock a “market perform” rating in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $80.50.

Insider Buying and Selling

In other Hancock Whitney news, Director Christine L. Pickering sold 417 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the transaction, the director owned 25,066 shares in the company, valued at approximately $1,683,432.56. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its position in 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 acquiring an additional 253 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Hancock Whitney during the 3rd quarter worth approximately $45,000. Amundi purchased a new stake in shares of Hancock Whitney in the first quarter worth approximately $50,000. Parallel Advisors LLC lifted its holdings in shares of Hancock Whitney by 49.4% in the fourth quarter. Parallel Advisors LLC now owns 811 shares of the company’s stock valued at $52,000 after purchasing an additional 268 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Hancock Whitney by 84,400.0% in the third quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company’s stock valued at $53,000 after purchasing an additional 844 shares in the last quarter. 81.22% of the stock is owned by institutional investors.

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.