Hancock Whitney (NASDAQ:HWC) Stock Rating Upgraded by Benchmark

Hancock Whitney (NASDAQ:HWC) was upgraded by Benchmark to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

HWC has been the subject of several other reports. DA Davidson increased their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. Wall Street Zen cut shares of Hancock Whitney from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Piper Sandler increased their price target on shares of Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered shares of Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.25.

Hancock Whitney Stock Up 1.7%

Hancock Whitney stock opened at $74.26 on Wednesday. Hancock Whitney has a fifty-two week low of $54.05 and a fifty-two week high of $75.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $6.03 billion, a P/E ratio of 15.25 and a beta of 0.95. The stock has a 50-day simple moving average of $68.48 and a 200-day simple moving average of $67.23.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share (EPS) for the quarter, topping 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 return on equity of 11.20% and a net margin of 21.34%.The firm’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 EPS. Equities research analysts expect that Hancock Whitney will post 6.47 earnings per share for the current year.

Insider Buying and Selling at Hancock Whitney

In related news, Director Christine L. Pickering sold 417 shares of Hancock Whitney stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $67.16, for a total value of $28,005.72. Following the transaction, the director directly owned 25,066 shares in the company, valued at $1,683,432.56. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Hancock Whitney

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi acquired a new position in shares of Hancock Whitney in the first quarter worth $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 during the last quarter. NewEdge Advisors LLC increased its stake in Hancock Whitney by 22.9% in the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock valued at $197,000 after purchasing an additional 700 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Hancock Whitney by 4.2% during 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 boosted its stake in Hancock Whitney by 951.9% in the 1st quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock worth $6,494,000 after buying an additional 112,042 shares during the last quarter. Hedge funds and other institutional investors 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.