Michael Achary Sells 22,694 Shares of Hancock Whitney (NASDAQ:HWC) Stock

Hancock Whitney Corporation (NASDAQ:HWC) CFO Michael Achary sold 22,694 shares of the company’s stock in a transaction on 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 owned 44,160 shares of the company’s stock, valued at $3,364,108.80. The trade was a 33.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hancock Whitney Trading Up 1.3%

Shares of NASDAQ:HWC traded up $1.00 during midday trading on Tuesday, hitting $76.46. The company had a trading volume of 178,198 shares, compared to its average volume of 895,912. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $79.36. The firm has a fifty day simple moving average of $72.23 and a 200 day simple moving average of $68.87. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 15.00 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last released its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The firm had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 earnings per share. On average, analysts predict that Hancock Whitney Corporation will post 6.45 EPS for the current year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a $0.50 dividend. The ex-dividend date was Friday, June 5th. This represents a $2.00 annualized dividend and a yield of 2.6%. Hancock Whitney’s dividend payout ratio (DPR) is 39.22%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and set a $87.00 target price on shares of Hancock Whitney in a report on Wednesday, July 22nd. DA Davidson raised their price target on Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Raymond James Financial reiterated a “strong-buy” rating and set a $87.00 price objective on shares of Hancock Whitney in a report on Wednesday, July 22nd. Barclays raised their target price on shares of Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hancock Whitney presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.56.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Torren Management LLC bought a new position in shares of Hancock Whitney in the fourth quarter valued at $32,000. Hilton Head Capital Partners LLC acquired a new stake in Hancock Whitney in the fourth quarter valued at $35,000. Root Financial Partners LLC grew its position in shares of Hancock Whitney by 70.9% in the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock valued at $39,000 after acquiring an additional 254 shares during the period. IFP Advisors Inc increased its stake in shares of Hancock Whitney by 67.6% during the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after purchasing an additional 253 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Hancock Whitney in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

About Hancock Whitney

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.