Mackenzie Financial Corp Buys New Position in Hancock Whitney Co. (NASDAQ:HWC)

Mackenzie Financial Corp bought a new stake in shares of Hancock Whitney Co. (NASDAQ:HWC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,567 shares of the company’s stock, valued at approximately $271,000.

Several other large investors also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. grew its position in Hancock Whitney by 3.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,298,200 shares of the company’s stock valued at $122,000,000 after buying an additional 109,016 shares during the period. Wellington Management Group LLP boosted its position in shares of Hancock Whitney by 7.0% in the third quarter. Wellington Management Group LLP now owns 2,184,960 shares of the company’s stock worth $80,822,000 after purchasing an additional 142,465 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Hancock Whitney by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,102,052 shares of the company’s stock worth $77,755,000 after purchasing an additional 148,542 shares during the period. Channing Capital Management LLC boosted its position in shares of Hancock Whitney by 16.0% in the third quarter. Channing Capital Management LLC now owns 1,407,511 shares of the company’s stock worth $52,064,000 after purchasing an additional 194,100 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Hancock Whitney by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,039,436 shares of the company’s stock worth $38,449,000 after purchasing an additional 14,625 shares during the period. 81.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HWC has been the subject of a number of recent analyst reports. Stephens reiterated an “equal weight” rating and issued a $50.00 price target on shares of Hancock Whitney in a research report on Wednesday, April 17th. Truist Financial dropped their price target on shares of Hancock Whitney from $50.00 to $46.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Jefferies Financial Group dropped their price target on shares of Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. StockNews.com downgraded shares of Hancock Whitney from a “hold” rating to a “sell” rating in a report on Sunday, March 31st. Finally, Piper Sandler restated an “overweight” rating and set a $52.00 target price (down previously from $55.00) on shares of Hancock Whitney in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.71.

Hancock Whitney Price Performance

Shares of NASDAQ:HWC opened at $46.74 on Monday. Hancock Whitney Co. has a fifty-two week low of $31.02 and a fifty-two week high of $49.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a fifty day moving average price of $43.84 and a 200 day moving average price of $42.98. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 10.90 and a beta of 1.33.

Hancock Whitney Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.60 annualized dividend and a yield of 3.42%. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.30. Hancock Whitney’s dividend payout ratio (DPR) is 27.97%.

Insider Buying and Selling at Hancock Whitney

In other Hancock Whitney news, insider Christopher S. Ziluca sold 3,636 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $43.50, for a total transaction of $158,166.00. Following the completion of the transaction, the insider now owns 35,285 shares in the company, valued at $1,534,897.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

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.