LSV Asset Management Cuts Stock Position in Hancock Whitney Co. (NASDAQ:HWC)

LSV Asset Management cut its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 466,500 shares of the company’s stock after selling 24,800 shares during the quarter. LSV Asset Management owned approximately 0.54% of Hancock Whitney worth $22,313,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Retirement Systems of Alabama grew its holdings in Hancock Whitney by 0.3% during the first quarter. Retirement Systems of Alabama now owns 108,183 shares of the company’s stock valued at $4,981,000 after purchasing an additional 284 shares during the period. Quadrant Capital Group LLC increased its holdings in Hancock Whitney by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,260 shares of the company’s stock worth $61,000 after acquiring an additional 328 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in Hancock Whitney by 5.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 6,622 shares of the company’s stock worth $317,000 after acquiring an additional 356 shares during the last quarter. State of Michigan Retirement System raised its stake in Hancock Whitney by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 21,140 shares of the company’s stock valued at $973,000 after acquiring an additional 500 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Hancock Whitney by 5.5% during the second quarter. SG Americas Securities LLC now owns 10,865 shares of the company’s stock valued at $520,000 after purchasing an additional 568 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on HWC. Keefe, Bruyette & Woods boosted their price target on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Piper Sandler boosted their target price on shares of Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. DA Davidson raised their price target on Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group decreased their price objective on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Hovde Group raised their target price on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.78.

Insider Activity

In other news, Director Frank E. Bertucci sold 2,053 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total value of $117,082.59. Following the transaction, the director now directly owns 22,554 shares in the company, valued at approximately $1,286,254.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Hancock Whitney Stock Performance

Shares of NASDAQ:HWC opened at $49.31 on Wednesday. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 11.49 and a beta of 1.26. Hancock Whitney Co. has a 12 month low of $32.16 and a 12 month high of $57.78. The company has a 50-day moving average price of $51.07 and a 200-day moving average price of $47.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, July 16th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.20 by $0.11. The firm had revenue of $359.60 million during the quarter, compared to analysts’ expectations of $359.11 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. As a group, equities analysts anticipate that Hancock Whitney Co. will post 5.17 EPS for the current year.

Hancock Whitney Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, September 5th. Hancock Whitney’s payout ratio is currently 37.30%.

Hancock Whitney Company Profile

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.