Burns Matteson Capital Management LLC Takes Position in Hancock Whitney Corporation $HWC

Burns Matteson Capital Management LLC purchased a new position in Hancock Whitney Corporation (NASDAQ:HWC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,039 shares of the company’s stock, valued at approximately $576,000.

Other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in Hancock Whitney by 67.6% during the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after buying an additional 253 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Hancock Whitney in the 3rd quarter worth about $45,000. CIBC Private Wealth Group LLC increased its position in shares of Hancock Whitney by 84,400.0% during the third quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company’s stock worth $53,000 after acquiring an additional 844 shares during the period. Amundi bought a new stake in shares of Hancock Whitney during the first quarter valued at approximately $50,000. Finally, Danske Bank A S bought a new stake in shares of Hancock Whitney during the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays began coverage on Hancock Whitney in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $76.00 price objective on the stock. Raymond James Financial lifted their target price on Hancock Whitney from $72.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 7th. Piper Sandler upped their target price on Hancock Whitney from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Hancock Whitney in a research report on Friday. Finally, Wall Street Zen upgraded Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $75.63.

Insider Buying and Selling at Hancock Whitney

In related news, insider Christopher S. Ziluca sold 5,227 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $68.57, for a total transaction of $358,415.39. Following the completion of the sale, the insider directly owned 33,301 shares in the company, valued at $2,283,449.57. This represents a 13.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.92% of the stock is owned by company insiders.

Hancock Whitney Price Performance

NASDAQ HWC opened at $63.59 on Wednesday. The company has a market cap of $5.19 billion, a PE ratio of 11.20 and a beta of 1.05. The firm’s 50 day moving average price is $66.99 and its 200-day moving average price is $63.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $75.43.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $81.55 million during the quarter, compared to the consensus estimate of $391.63 million. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Sell-side analysts forecast that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Thursday, March 5th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.45. Hancock Whitney’s dividend payout ratio is presently 35.21%.

Hancock Whitney Profile

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.