Voya Investment Management LLC Trims Position in Hancock Whitney Corporation $HWC

Voya Investment Management LLC decreased its holdings in Hancock Whitney Corporation (NASDAQ:HWC) by 14.2% in the third quarter, HoldingsChannel.com reports. The fund owned 346,264 shares of the company’s stock after selling 57,159 shares during the period. Voya Investment Management LLC’s holdings in Hancock Whitney were worth $21,680,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HWC. HighTower Advisors LLC lifted its position in shares of Hancock Whitney by 11.5% in the 1st quarter. HighTower Advisors LLC now owns 6,845 shares of the company’s stock worth $359,000 after purchasing an additional 704 shares during the period. Russell Investments Group Ltd. lifted its holdings in Hancock Whitney by 105.4% in the first quarter. Russell Investments Group Ltd. now owns 50,440 shares of the company’s stock worth $2,646,000 after buying an additional 25,883 shares during the period. Raymond James Financial Inc. lifted its holdings in Hancock Whitney by 4.5% in the first quarter. Raymond James Financial Inc. now owns 181,738 shares of the company’s stock worth $9,532,000 after buying an additional 7,818 shares during the period. Brooklyn Investment Group bought a new stake in Hancock Whitney during the 1st quarter valued at approximately $31,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Hancock Whitney during the 1st quarter worth approximately $231,000. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Trading Down 0.1%

HWC opened at $65.82 on Monday. The stock has a 50-day moving average of $59.92 and a 200 day moving average of $60.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month high of $67.10. The firm has a market cap of $5.50 billion, a P/E ratio of 11.77 and a beta of 1.10.

Hancock Whitney (NASDAQ:HWC) last issued its earnings results on Tuesday, October 14th. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $175.56 million during the quarter, compared to analyst estimates of $391.32 million. Hancock Whitney had a net margin of 23.99% and a return on equity of 11.29%. During the same period in the previous year, the firm earned $1.33 earnings per share. As a group, research analysts forecast that Hancock Whitney Corporation will post 5.53 EPS for the current year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, December 5th. Hancock Whitney’s payout ratio is presently 32.20%.

Insiders Place Their Bets

In related news, CFO Michael M. Achary sold 9,894 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $54.86, for a total value of $542,784.84. Following the sale, the chief financial officer owned 55,733 shares in the company, valued at $3,057,512.38. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HWC. Weiss Ratings reiterated a “buy (b)” rating on shares of Hancock Whitney in a research note on Monday, December 15th. Citigroup increased their price objective on shares of Hancock Whitney from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Barclays assumed coverage on shares of Hancock Whitney in a report on Wednesday. They issued an “overweight” rating and a $76.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of Hancock Whitney from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Tuesday, November 11th. Finally, Raymond James Financial decreased their price objective on shares of Hancock Whitney from $73.00 to $72.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $70.88.

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.