Y Intercept Hong Kong Ltd Makes New $1.71 Million Investment in Hancock Whitney Corporation $HWC

Y Intercept Hong Kong Ltd acquired a new position in Hancock Whitney Corporation (NASDAQ:HWC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,948 shares of the company’s stock, valued at approximately $1,714,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HWC. Amundi acquired a new stake in Hancock Whitney in the 1st quarter valued at $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Hancock Whitney by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock worth $2,710,000 after purchasing an additional 2,255 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Hancock Whitney by 22.9% in the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock worth $197,000 after buying an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Hancock Whitney by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company’s stock worth $15,078,000 after buying an additional 11,551 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Hancock Whitney by 951.9% in the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock valued at $6,494,000 after buying an additional 112,042 shares in the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insider Activity at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,683,432.56. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HWC shares. Weiss Ratings downgraded Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Benchmark assumed coverage on Hancock Whitney in a report on Wednesday, June 24th. They issued a “buy” rating and a $84.00 price target for the company. Citigroup increased their price objective on shares of 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 price objective on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Wall Street Zen cut shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $80.50.

Hancock Whitney Stock Up 1.6%

Shares of NASDAQ:HWC opened at $74.94 on Friday. The firm has a market cap of $6.08 billion, a PE ratio of 15.39 and a beta of 0.95. The company has a fifty day simple moving average of $69.87 and a 200 day simple moving average of $67.89. The company has a current ratio of 0.81, a quick ratio of 0.81 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 $76.39.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The firm had revenue of $393.64 million for the quarter, compared to the consensus estimate of $400.01 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The firm’s revenue was down 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. On average, equities research analysts anticipate that Hancock Whitney Corporation will post 6.47 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, June 5th. Hancock Whitney’s dividend payout ratio is 41.07%.

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.