Hancock Whitney Co. (NASDAQ:HWC) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in Hancock Whitney Co. (NASDAQ:HWC) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,093 shares of the company’s stock after selling 3,094 shares during the quarter. Amalgamated Bank’s holdings in Hancock Whitney were worth $2,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HWC. Retirement Systems of Alabama raised 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 worth $4,981,000 after purchasing an additional 284 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Hancock Whitney by 5.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 6,622 shares of the company’s stock valued at $317,000 after buying an additional 356 shares during the period. State of Michigan Retirement System boosted its stake in shares of Hancock Whitney by 2.4% in the first quarter. State of Michigan Retirement System now owns 21,140 shares of the company’s stock valued at $973,000 after buying an additional 500 shares in the last quarter. SG Americas Securities LLC grew 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 worth $520,000 after acquiring an additional 568 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Hancock Whitney by 3.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,147 shares of the company’s stock worth $868,000 after acquiring an additional 618 shares in the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank E. Bertucci sold 2,053 shares of Hancock Whitney 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 completion of the sale, the director now owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HWC shares. Piper Sandler upped their price target on shares of Hancock Whitney from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Jefferies Financial Group dropped their target price on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Hovde Group boosted their price target on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Truist Financial dropped their price objective on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, DA Davidson boosted their target price on Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Hancock Whitney has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

Hancock Whitney Stock Performance

NASDAQ HWC opened at $49.90 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. Hancock Whitney Co. has a fifty-two week low of $32.16 and a fifty-two week high of $57.78. The business has a fifty day moving average of $51.49 and a 200-day moving average of $47.72. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 11.63 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC) last released its 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 company had revenue of $359.60 million for the quarter, compared to analyst estimates of $359.11 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 EPS. As a group, analysts predict that Hancock Whitney Co. will post 5.16 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.60 annualized dividend and a yield of 3.21%. Hancock Whitney’s dividend payout ratio (DPR) is presently 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.