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

Key Points

  • CFO Michael Achary sold 22,694 Hancock Whitney shares at an average price of $76.18, generating approximately $1.73 million. His remaining stake fell 33.95% to 44,160 shares.
  • Hancock Whitney reported quarterly EPS of $1.55, matching estimates, while revenue of $403.57 million exceeded forecasts and rose 6.9% year over year.
  • The company pays a quarterly dividend of $0.50, equal to a 2.6% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.56.

Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) CFO Michael Achary sold 22,694 shares of the business's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $76.18, for a total value of $1,728,828.92. Following the completion of the sale, the chief financial officer owned 44,160 shares in the company, valued at $3,364,108.80. The trade was a 33.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hancock Whitney Trading Up 2.0%

Shares of NASDAQ:HWC opened at $76.94 on Wednesday. The stock has a market capitalization of $6.24 billion, a PE ratio of 15.09 and a beta of 0.95. Hancock Whitney Corporation has a one year low of $54.05 and a one year high of $79.36. The company's 50-day moving average price is $72.46 and its two-hundred day moving average price is $68.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.80 and a quick ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting 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 net margin of 21.81% and a return on equity of 11.36%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. On average, equities analysts forecast that Hancock Whitney Corporation will post 6.45 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement




The firm also recently disclosed 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 of this dividend was Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Hancock Whitney's payout ratio is currently 39.22%.

Wall Street Analysts Forecast Growth

HWC has been the subject of several research analyst reports. Weiss Ratings downgraded Hancock Whitney from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Hovde Group downgraded Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 target price for the company. in a report on Friday, June 12th. Zacks Research raised Hancock Whitney from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Raymond James Financial reissued a "strong-buy" rating and issued a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, Benchmark lifted their price target on Hancock Whitney from $84.00 to $91.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Hancock Whitney presently has an average rating of "Moderate Buy" and an average target price of $83.56.

Check Out Our Latest Stock Analysis on Hancock Whitney

Hedge Funds Weigh In On Hancock Whitney

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Hancock Whitney by 8.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,909 shares of the company's stock worth $143,000 after buying an additional 147 shares in the last quarter. SG Americas Securities LLC increased its stake in Hancock Whitney by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 24,457 shares of the company's stock worth $1,555,000 after purchasing an additional 153 shares during the period. Vident Advisory LLC raised its holdings in Hancock Whitney by 4.5% during the 4th quarter. Vident Advisory LLC now owns 3,517 shares of the company's stock valued at $224,000 after buying an additional 153 shares during the last quarter. BTC Capital Management Inc. raised its stake in shares of Hancock Whitney by 1.9% during the first quarter. BTC Capital Management Inc. now owns 8,472 shares of the company's stock valued at $539,000 after acquiring an additional 162 shares during the last quarter. Finally, Hilton Head Capital Partners LLC boosted its holdings in shares of Hancock Whitney by 31.0% during the first quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company's stock worth $46,000 after purchasing an additional 170 shares during the period. 81.22% of the stock is currently 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.

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