Hancock Whitney Co. (NASDAQ:HWC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in shares of Hancock Whitney Co. (NASDAQ:HWC) by 36.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,293 shares of the company’s stock after selling 23,926 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Hancock Whitney were worth $1,975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Hancock Whitney during the second quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in Hancock Whitney during the second quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new stake in Hancock Whitney during the second quarter valued at approximately $43,000. CWM LLC grew its holdings in shares of Hancock Whitney by 268.9% during the second quarter. CWM LLC now owns 985 shares of the company’s stock valued at $47,000 after purchasing an additional 718 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of Hancock Whitney during the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insider Buying and Selling at Hancock Whitney

In other news, Director Frank E. Bertucci sold 2,053 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total transaction of $117,082.59. Following the completion of the sale, the director now owns 22,554 shares in the company, valued at approximately $1,286,254.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HWC has been the subject of several recent research reports. Truist Financial lowered their target price on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a report on Friday. Hovde Group upped their target price on Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group lowered their target price on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, DA Davidson increased their price objective on Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Hancock Whitney currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

Hancock Whitney Stock Performance

Shares of NASDAQ HWC opened at $51.43 on Friday. The stock has a fifty day moving average price of $51.55 and a two-hundred day moving average price of $47.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $4.46 billion, a P/E ratio of 11.99 and a beta of 1.26. Hancock Whitney Co. has a 1 year low of $32.16 and a 1 year high of $57.78.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.11. The firm had revenue of $359.60 million during the quarter, compared to analyst estimates of $359.11 million. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. Research analysts forecast that Hancock Whitney Co. will post 5.17 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, September 5th. Hancock Whitney’s payout ratio is currently 37.30%.

About Hancock Whitney

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.