Dark Forest Capital Management LP Makes New $1.71 Million Investment in Hancock Whitney Co. (NASDAQ:HWC)

Dark Forest Capital Management LP acquired a new stake in Hancock Whitney Co. (NASDAQ:HWC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 31,310 shares of the company’s stock, valued at approximately $1,713,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HWC. Grove Bank & Trust bought a new position in shares of Hancock Whitney during the 4th quarter worth approximately $31,000. R Squared Ltd bought a new position in Hancock Whitney during the fourth quarter worth $49,000. GeoWealth Management LLC acquired a new position in shares of Hancock Whitney in the fourth quarter valued at $65,000. Parkside Financial Bank & Trust raised its position in shares of Hancock Whitney by 9.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company’s stock valued at $105,000 after purchasing an additional 169 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Hancock Whitney during the 4th quarter worth about $138,000. 81.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens lowered their price target on shares of Hancock Whitney from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and set a $70.00 target price (up previously from $68.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. DA Davidson reduced their price target on Hancock Whitney from $69.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Raymond James reissued a “strong-buy” rating and set a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Hancock Whitney from $68.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.56.

Insider Activity at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $48.09, for a total transaction of $40,299.42. Following the sale, the director now owns 23,019 shares of the company’s stock, valued at approximately $1,106,983.71. The trade was a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by insiders.

Hancock Whitney Price Performance

HWC stock opened at $49.96 on Wednesday. The company’s 50-day moving average price is $52.15 and its two-hundred day moving average price is $55.09. The firm has a market cap of $4.30 billion, a P/E ratio of 9.46 and a beta of 0.99. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Hancock Whitney Co. has a 12 month low of $43.60 and a 12 month high of $62.40.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. The business had revenue of $367.50 million for the quarter, compared to analysts’ expectations of $368.12 million. On average, analysts anticipate that Hancock Whitney Co. will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.45 per share. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, March 5th. Hancock Whitney’s dividend payout ratio is currently 33.21%.

Hancock Whitney Company 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.