Key Points
- Director Christine Pickering sold 417 shares of Hancock Whitney on May 22 at an average price of $67.16, a transaction worth about $28,006. After the sale, she still held 25,066 shares.
- The bank recently reported better-than-expected earnings, posting $1.52 EPS versus the $1.48 consensus estimate, though quarterly revenue came in below forecasts and fell 19.7% year over year.
- Hancock Whitney continues to offer a dividend and has supportive analyst coverage, with a quarterly payout of $0.50 per share and a consensus rating of “Moderate Buy” alongside an average price target of $78.14.
Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) Director Christine Pickering sold 417 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was 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 $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Hancock Whitney Stock Performance
HWC opened at $68.16 on Wednesday. The firm has a market capitalization of $5.53 billion, a PE ratio of 14.00 and a beta of 0.97. Hancock Whitney Corporation has a twelve month low of $52.89 and a twelve month high of $75.43. The firm's 50-day moving average price is $65.82 and its 200 day moving average price is $65.62. 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 (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 earnings per share 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 analyst estimates of $400.01 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. Hancock Whitney's quarterly revenue was down 19.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 earnings per share. As a group, sell-side analysts expect that Hancock Whitney Corporation will post 6.47 EPS for the current fiscal year.
Hancock Whitney Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. Hancock Whitney's payout ratio is presently 41.07%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on HWC. Piper Sandler boosted their target price on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, May 18th. DA Davidson boosted their target price on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a "buy" rating in a report on Monday, May 18th. Citigroup boosted their target price on shares of Hancock Whitney from $78.00 to $81.00 and gave the company a "buy" rating in a report on Tuesday, February 24th. Wall Street Zen lowered shares of Hancock Whitney from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Zacks Research lowered shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.14.
View Our Latest Report on HWC
Institutional Investors Weigh In On Hancock Whitney
Institutional investors and hedge funds have recently made changes to their positions in the stock. Torren Management LLC purchased a new stake in shares of Hancock Whitney in the 4th quarter valued at approximately $32,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Hancock Whitney in the 4th quarter valued at approximately $35,000. Root Financial Partners LLC raised its stake 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 raised its stake in shares of 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 during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Hancock Whitney in the 4th quarter valued at approximately $40,000. 81.22% of the stock is owned by hedge funds and other institutional investors.
Hancock Whitney Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
