Elevation Point Wealth Partners LLC Invests $637,000 in Hancock Whitney Corporation $HWC

Elevation Point Wealth Partners LLC acquired a new stake in Hancock Whitney Corporation (NASDAQ:HWC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,531 shares of the company’s stock, valued at approximately $637,000.

A number of other large investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Hancock Whitney during the second quarter worth $79,000. Emerald Investment Advisers LLC acquired a new stake in shares of Hancock Whitney in the 2nd quarter worth $3,085,000. William Blair Investment Management LLC purchased a new position in shares of Hancock Whitney during the 2nd quarter worth $33,393,000. EP Wealth Advisors LLC purchased a new position in shares of Hancock Whitney during the 2nd quarter worth $521,000. Finally, Callan Family Office LLC acquired a new position in shares of Hancock Whitney during the 2nd quarter valued at about $310,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HWC. Piper Sandler restated an “overweight” rating and set a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. Zacks Research cut Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Raymond James Financial restated a “strong-buy” rating and set a $87.00 price target on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday. Finally, DA Davidson increased their target price on Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hancock Whitney presently has an average rating of “Moderate Buy” and an average target price of $83.78.

Hancock Whitney Trading Down 0.7%

Shares of HWC stock opened at $74.86 on Tuesday. Hancock Whitney Corporation has a fifty-two week low of $54.05 and a fifty-two week high of $80.13. The company has a 50 day moving average price of $75.77 and a 200 day moving average price of $70.17. The stock has a market capitalization of $6.01 billion, a P/E ratio of 14.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82.

Hancock Whitney (NASDAQ:HWC) last posted 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. The business had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. Equities research analysts predict that Hancock Whitney Corporation will post 6.44 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

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

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $76.18, for a total value 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. This trade represents a 33.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares of the company’s stock, valued at $1,189,166. This represents a 24.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is owned by company insiders.

Hancock Whitney 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.