Hancock Whitney (NASDAQ:HWC) Reaches New 52-Week High – Here’s Why

Hancock Whitney Corporation (NASDAQ:HWC) hit a new 52-week high on Wednesday . The company traded as high as $67.18 and last traded at $66.59, with a volume of 7468 shares changing hands. The stock had previously closed at $66.88.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HWC. Raymond James Financial boosted their target price on shares of Hancock Whitney from $72.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of Hancock Whitney from $64.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 11th. Citigroup upped their price target on Hancock Whitney from $71.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Barclays initiated coverage on Hancock Whitney in a research note on Wednesday, December 17th. They set an “overweight” rating and a $76.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Hancock Whitney in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $71.88.

Hancock Whitney Price Performance

The company has a market cap of $5.53 billion, a PE ratio of 11.80 and a beta of 1.05. The stock has a fifty day moving average price of $61.84 and a 200-day moving average price of $60.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $175.56 million for the quarter, compared to analyst estimates of $391.32 million. Hancock Whitney had a return on equity of 11.29% and a net margin of 23.99%.During the same period in the previous year, the firm earned $1.33 earnings per share. On average, equities analysts expect that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, December 5th. Hancock Whitney’s dividend payout ratio is 32.20%.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, CFO Michael M. Achary sold 9,894 shares of Hancock Whitney stock in a transaction on Friday, October 17th. The shares were sold at an average price of $54.86, for a total transaction of $542,784.84. Following the completion of the sale, the chief financial officer owned 55,733 shares of the company’s stock, valued at $3,057,512.38. This trade represents a 15.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hancock Whitney

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Hancock Whitney by 12.7% in the fourth quarter. GAMMA Investing LLC now owns 1,617 shares of the company’s stock valued at $103,000 after acquiring an additional 182 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Hancock Whitney by 6.5% during the third quarter. Blue Trust Inc. now owns 3,181 shares of the company’s stock worth $199,000 after buying an additional 195 shares during the last quarter. BTC Capital Management Inc. increased its position in Hancock Whitney by 3.0% during the second quarter. BTC Capital Management Inc. now owns 7,459 shares of the company’s stock worth $427,000 after acquiring an additional 219 shares during the period. Arizona State Retirement System raised its stake in Hancock Whitney by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 25,334 shares of the company’s stock valued at $1,586,000 after purchasing an additional 238 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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.