Invesco Ltd. cut its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC – Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 455,010 shares of the company’s stock after selling 20,653 shares during the period. Invesco Ltd. owned 0.53% of Hancock Whitney worth $24,898,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of Hancock Whitney by 9.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company’s stock worth $105,000 after buying an additional 169 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Hancock Whitney by 1.1% in the fourth quarter. Sanctuary Advisors LLC now owns 20,358 shares of the company’s stock valued at $1,221,000 after acquiring an additional 227 shares during the period. Pacer Advisors Inc. grew its stake in shares of Hancock Whitney by 1.9% during the 4th quarter. Pacer Advisors Inc. now owns 12,845 shares of the company’s stock worth $703,000 after purchasing an additional 238 shares during the period. US Bancorp DE increased its holdings in shares of Hancock Whitney by 11.4% in the 4th quarter. US Bancorp DE now owns 2,581 shares of the company’s stock valued at $141,000 after purchasing an additional 265 shares in the last quarter. Finally, BTC Capital Management Inc. lifted its stake in shares of Hancock Whitney by 4.6% in the fourth quarter. BTC Capital Management Inc. now owns 7,121 shares of the company’s stock valued at $390,000 after purchasing an additional 311 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have weighed in on HWC. DA Davidson dropped their target price on shares of Hancock Whitney from $69.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday. Stephens reduced their target price on Hancock Whitney from $73.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday. Raymond James reiterated a “strong-buy” rating and set a $62.00 price target (down from $72.00) on shares of Hancock Whitney in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $70.00 price objective (up previously from $68.00) on shares of Hancock Whitney in a research note on Wednesday. Finally, StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.56.
Hancock Whitney Price Performance
Shares of NASDAQ:HWC opened at $48.65 on Friday. The stock’s 50 day moving average price is $52.57 and its 200 day moving average price is $55.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 9.21 and a beta of 0.99. Hancock Whitney Co. has a 12 month low of $42.51 and a 12 month high of $62.40.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. The business had revenue of $367.50 million for the quarter, compared to the consensus estimate of $368.12 million. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. Equities research analysts anticipate that Hancock Whitney Co. will post 5.53 earnings per share for the current fiscal year.
Hancock Whitney Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.40. Hancock Whitney’s payout ratio is currently 34.09%.
Hancock Whitney Profile
Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.
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