Hennion & Walsh Asset Management Inc. Sells 570 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC) by 8.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,868 shares of the company’s stock after selling 570 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Hancock Whitney were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HWC. DMC Group LLC raised its position in Hancock Whitney by 53.9% during the 3rd quarter. DMC Group LLC now owns 8,505 shares of the company’s stock valued at $435,000 after purchasing an additional 2,980 shares in the last quarter. Raymond James & Associates raised its position in Hancock Whitney by 4.9% during the 3rd quarter. Raymond James & Associates now owns 152,938 shares of the company’s stock valued at $7,826,000 after purchasing an additional 7,126 shares in the last quarter. Blue Trust Inc. raised its position in Hancock Whitney by 19.1% during the 3rd quarter. Blue Trust Inc. now owns 2,971 shares of the company’s stock valued at $142,000 after purchasing an additional 476 shares in the last quarter. Trust Point Inc. raised its position in Hancock Whitney by 10.6% during the 3rd quarter. Trust Point Inc. now owns 6,005 shares of the company’s stock valued at $307,000 after purchasing an additional 577 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Hancock Whitney during the 3rd quarter valued at $72,000. 81.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Carleton Richard Wilkins sold 800 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $50.95, for a total transaction of $40,760.00. Following the transaction, the director now directly owns 15,900 shares in the company, valued at $810,105. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Hancock Whitney news, Director Carleton Richard Wilkins sold 800 shares of Hancock Whitney stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $50.95, for a total transaction of $40,760.00. Following the completion of the sale, the director now owns 15,900 shares of the company’s stock, valued at approximately $810,105. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Achary sold 8,431 shares of Hancock Whitney stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $52.55, for a total value of $443,049.05. Following the sale, the chief financial officer now directly owns 54,380 shares of the company’s stock, valued at approximately $2,857,669. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Hancock Whitney Stock Down 1.1 %

Shares of HWC stock opened at $52.50 on Wednesday. Hancock Whitney Co. has a 1-year low of $33.32 and a 1-year high of $57.78. The stock’s fifty day moving average price is $51.33 and its 200 day moving average price is $49.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 11.77 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. Hancock Whitney had a return on equity of 11.47% and a net margin of 19.30%. The firm had revenue of $525.37 million for the quarter, compared to the consensus estimate of $363.54 million. During the same period in the previous year, the business earned $1.12 EPS. On average, research analysts expect that Hancock Whitney Co. will post 5.19 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.60 annualized dividend and a yield of 3.05%. Hancock Whitney’s dividend payout ratio (DPR) is 35.87%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Hovde Group lifted their target price on Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Truist Financial decreased their target price on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Piper Sandler lifted their target price on Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. DA Davidson lifted their price target on Hancock Whitney from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their price target on Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.89.

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.