Hancock Whitney (NASDAQ:HWC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Hancock Whitney (NASDAQ:HWC) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research firms have also recently weighed in on HWC. DA Davidson upped their price target on Hancock Whitney from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Barclays assumed coverage on Hancock Whitney in a research report on Wednesday, December 17th. They set an “overweight” rating and a $76.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Hancock Whitney in a report on Monday, December 29th. Piper Sandler raised their price target on Hancock Whitney from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Finally, Citigroup lifted their price target on Hancock Whitney from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $75.63.

Hancock Whitney Stock Performance

Shares of HWC opened at $62.86 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. Hancock Whitney has a 52-week low of $43.90 and a 52-week high of $75.43. The company has a 50-day simple moving average of $68.41 and a 200-day simple moving average of $63.82. The company has a market capitalization of $5.26 billion, a PE ratio of 11.07 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC) last released 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. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. The firm had revenue of $81.55 million for the quarter, compared to the consensus estimate of $391.63 million. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Equities research analysts predict that Hancock Whitney will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.50 per share. This is a boost from Hancock Whitney’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 5th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Hancock Whitney’s payout ratio is currently 35.21%.

Insiders Place Their Bets

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the firm’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 transaction, the insider owned 33,301 shares of the company’s stock, valued at approximately $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 accessible through this link. Insiders own 0.91% of the company’s stock.

Institutional Trading of Hancock Whitney

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HWC. True Wealth Design LLC lifted its holdings in Hancock Whitney by 929.5% in the 2nd quarter. True Wealth Design LLC now owns 453 shares of the company’s stock valued at $26,000 after purchasing an additional 409 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Hancock Whitney during the fourth quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new position in shares of Hancock Whitney in the fourth quarter valued at approximately $35,000. IFP Advisors Inc raised 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 valued at $39,000 after buying an additional 253 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Hancock Whitney during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

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.