Bank of New York Mellon Corp Sells 21,044 Shares of Hancock Whitney Corporation $HWC

Bank of New York Mellon Corp trimmed its position in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 764,395 shares of the company’s stock after selling 21,044 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hancock Whitney were worth $48,608,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HWC. Principal Financial Group Inc. increased its position in shares of Hancock Whitney by 13.3% during the first quarter. Principal Financial Group Inc. now owns 366,218 shares of the company’s stock worth $23,288,000 after purchasing an additional 42,904 shares in the last quarter. Citizens National Bank Trust Department acquired a new position in Hancock Whitney during the 1st quarter valued at about $386,000. Fifth Third Bancorp increased its position in Hancock Whitney by 2,998.7% during the 1st quarter. Fifth Third Bancorp now owns 33,094 shares of the company’s stock valued at $2,104,000 after buying an additional 32,026 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Hancock Whitney by 19.6% during the first quarter. Sequoia Financial Advisors LLC now owns 14,447 shares of the company’s stock worth $919,000 after acquiring an additional 2,363 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Hancock Whitney by 35.6% in the 1st quarter. Hsbc Holdings PLC now owns 21,457 shares of the company’s stock valued at $1,362,000 after purchasing an additional 5,631 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Trading Up 0.7%

Hancock Whitney stock opened at $76.20 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $72.04 and its two-hundred day simple moving average is $68.79. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $79.36. The firm has a market cap of $6.18 billion, a PE ratio of 14.94 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The company had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. During the same quarter last year, the business earned $1.37 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Hancock Whitney Corporation will post 6.47 earnings per share for the current year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, June 5th. Hancock Whitney’s dividend payout ratio is presently 41.07%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HWC shares. Citigroup restated a “buy” rating on shares of Hancock Whitney in a research note on Thursday. Wall Street Zen lowered shares of Hancock Whitney from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. DA Davidson boosted their price objective on shares of Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a report on Monday, May 18th. Stephens cut their price objective on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Barclays raised their price objective on Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.56.

Insider Activity at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the sale, the director directly owned 25,066 shares in the company, valued at $1,683,432.56. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by company insiders.

About Hancock Whitney

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.