Insider Selling: Hancock Whitney (NASDAQ:HWC) Insider Sells $358,415.39 in Stock

Hancock Whitney Corporation (NASDAQ:HWC) insider Christopher Ziluca sold 5,227 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $68.57, for a total value of $358,415.39. Following the transaction, the insider directly owned 33,301 shares in the company, valued at $2,283,449.57. This trade represents a 13.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Hancock Whitney Stock Down 0.2%

Shares of NASDAQ:HWC opened at $67.29 on Thursday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 11.85 and a beta of 1.05. The company has a 50 day moving average of $65.05 and a two-hundred day moving average of $61.96. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $71.20. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.04.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, January 20th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. The business 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 period in the prior year, the firm earned $1.40 earnings per share. As a group, analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HWC shares. Raymond James Financial increased their price target on Hancock Whitney from $72.00 to $78.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 7th. Barclays began coverage on Hancock Whitney in a research note on Wednesday, December 17th. They set an “overweight” rating and a $76.00 target price for the company. Keefe, Bruyette & Woods upped their price target on shares of Hancock Whitney from $70.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Piper Sandler upped their price objective on Hancock Whitney from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $75.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HWC. Amundi bought a new stake in shares of Hancock Whitney during the first quarter valued at approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hancock Whitney by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock worth $2,710,000 after buying an additional 2,255 shares in the last quarter. NewEdge Advisors LLC increased its position in Hancock Whitney by 22.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock valued at $197,000 after acquiring an additional 700 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Hancock Whitney by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company’s stock valued at $15,078,000 after acquiring an additional 11,551 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Hancock Whitney by 951.9% in the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock worth $6,494,000 after purchasing an additional 112,042 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Company 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.