Hancock Whitney Corporation $HWC Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its stake in Hancock Whitney Corporation (NASDAQ:HWC) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,217,610 shares of the company’s stock after selling 9,209 shares during the period. Geode Capital Management LLC owned approximately 2.65% of Hancock Whitney worth $141,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $32,000. IFP Advisors Inc boosted its position in shares of Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after buying an additional 253 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hancock Whitney in the third quarter worth about $45,000. CIBC Private Wealth Group LLC boosted its position in shares of Hancock Whitney by 84,400.0% in the third quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company’s stock worth $53,000 after buying an additional 844 shares during the period. Finally, Amundi purchased a new stake in shares of Hancock Whitney in the first quarter worth about $50,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Trading Up 2.9%

Shares of HWC opened at $69.18 on Friday. The company has a market capitalization of $5.61 billion, a P/E ratio of 14.21 and a beta of 0.95. Hancock Whitney Corporation has a one year low of $52.89 and a one year high of $75.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average price of $66.68 and a 200 day moving average price of $66.07.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The firm had revenue of $393.64 million during the quarter, compared to the consensus estimate of $400.01 million. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.Hancock Whitney’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 earnings per share. Sell-side analysts forecast that Hancock Whitney Corporation will post 6.47 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. Hancock Whitney’s dividend payout ratio is currently 41.07%.

Analysts Set New Price Targets

HWC has been the subject of several analyst reports. Citigroup upped their target price on Hancock Whitney from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Zacks Research downgraded Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 23rd. DA Davidson upped their target price on Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Weiss Ratings downgraded Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.14.

Insider Buying and Selling

In related news, Director Christine L. Pickering sold 417 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $67.16, for a total value of $28,005.72. Following the completion of the transaction, the director owned 25,066 shares of the company’s stock, valued at approximately $1,683,432.56. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

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.