Brokerages Set Hancock Whitney Corporation (NASDAQ:HWC) Price Target at $83.78

Hancock Whitney Corporation (NASDAQ:HWC) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $83.7778.

Several research analysts have recently issued reports on HWC shares. Barclays increased their price target on Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Hovde Group lowered shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price objective on the stock. in a research note on Friday, June 12th. Piper Sandler reissued an “overweight” rating and set a $87.00 target price on shares of Hancock Whitney in a report on Wednesday, July 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 21st.

Insider Activity

In related news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the sale, the insider directly owned 15,565 shares of the company’s stock, valued at $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the sale, the chief financial officer owned 44,160 shares of the company’s stock, valued at $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP bought a new stake in shares of Hancock Whitney during the 2nd quarter worth $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Hancock Whitney during the fourth quarter worth $35,000. Root Financial Partners LLC raised its position in shares of Hancock Whitney by 70.9% during the first quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock worth $39,000 after purchasing an additional 254 shares during the period. IFP Advisors Inc lifted its holdings 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 purchasing an additional 253 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Hancock Whitney during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

Hancock Whitney Price Performance

Shares of HWC opened at $75.25 on Wednesday. The stock has a fifty day moving average price of $76.34 and a 200 day moving average price of $70.47. The company has a market cap of $6.04 billion, a P/E ratio of 14.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. Hancock Whitney has a 12 month low of $54.05 and a 12 month high of $80.13.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The business had revenue of $403.57 million for the quarter, compared to analysts’ expectations of $398.89 million. During the same quarter last year, the company earned $1.37 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts forecast that Hancock Whitney will post 6.44 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. Hancock Whitney’s dividend payout ratio (DPR) is 39.22%.

Hancock Whitney Company Profile

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. The bank provides banking and financial services to individuals, families, businesses and institutions across the Gulf South.

Its offerings include personal and business deposit accounts, consumer and commercial loans, residential and commercial real estate financing, treasury management, online and mobile banking, investment services and wealth management.