First Bank & Trust Acquires New Holdings in Hancock Whitney Corporation $HWC

by · The Cerbat Gem

First Bank & Trust acquired a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,638 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Focus Partners Wealth lifted its position in Hancock Whitney by 1.8% during the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company’s stock valued at $539,000 after purchasing an additional 173 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Hancock Whitney by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company’s stock worth $1,264,000 after purchasing an additional 200 shares in the last quarter. Xponance Inc. increased its stake in shares of Hancock Whitney by 1.7% in the 1st quarter. Xponance Inc. now owns 12,473 shares of the company’s stock worth $654,000 after purchasing an additional 213 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Hancock Whitney by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 10,085 shares of the company’s stock worth $528,000 after purchasing an additional 265 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of Hancock Whitney by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 20,640 shares of the company’s stock worth $1,083,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HWC. Piper Sandler upped their price objective on Hancock Whitney from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Wall Street Zen lowered Hancock Whitney from a “hold” rating to a “sell” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods lowered Hancock Whitney from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. Hovde Group upped their price objective on Hancock Whitney from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Hancock Whitney in a research report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

Read Our Latest Report on HWC

Hancock Whitney Stock Down 0.8%

Shares of HWC stock opened at $62.59 on Wednesday. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 11.53 and a beta of 1.13. Hancock Whitney Corporation has a one year low of $43.90 and a one year high of $64.25. The company’s fifty day moving average price is $61.06 and its 200-day moving average price is $56.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81.

Hancock Whitney (NASDAQ:HWC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm had revenue of $377.98 million for the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. During the same period last year, the firm earned $1.31 EPS. Sell-side analysts expect that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Hancock Whitney’s dividend payout ratio (DPR) is presently 33.15%.

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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