Comerica Bank Purchases 631 Shares of Hancock Whitney Co. (NASDAQ:HWC)

by · The Cerbat Gem

Comerica Bank boosted its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC – Free Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,333 shares of the company’s stock after acquiring an additional 631 shares during the period. Comerica Bank owned approximately 0.06% of Hancock Whitney worth $3,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust bought a new position in shares of Hancock Whitney during the 4th quarter valued at about $31,000. R Squared Ltd acquired a new position in shares of Hancock Whitney in the fourth quarter valued at approximately $49,000. GeoWealth Management LLC bought a new stake in shares of Hancock Whitney during the fourth quarter worth $65,000. Parkside Financial Bank & Trust raised its holdings in shares of Hancock Whitney by 9.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company’s stock worth $105,000 after acquiring an additional 169 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Hancock Whitney in the 4th quarter valued at $138,000. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Trading Up 0.7 %

Shares of NASDAQ:HWC opened at $53.77 on Thursday. The company has a 50-day simple moving average of $51.05 and a 200 day simple moving average of $55.12. The company has a market capitalization of $4.63 billion, a P/E ratio of 10.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. Hancock Whitney Co. has a 52-week low of $43.60 and a 52-week high of $62.40.

Hancock Whitney (NASDAQ:HWC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. The company had revenue of $367.50 million for the quarter, compared to analyst estimates of $368.12 million. Sell-side analysts forecast that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Thursday, June 5th. Hancock Whitney’s payout ratio is 33.21%.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $48.09, for a total transaction of $40,299.42. Following the transaction, the director now owns 23,019 shares in the company, valued at $1,106,983.71. This trade represents a 3.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HWC has been the topic of a number of research reports. DA Davidson cut their price target on Hancock Whitney from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 price target (up previously from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Stephens lowered their price objective on shares of Hancock Whitney from $73.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Raymond James restated a “strong-buy” rating and set a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Finally, StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.25.

View Our Latest Stock Analysis on Hancock Whitney

About Hancock Whitney

(Free Report)

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.

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