Renaissance Technologies LLC Decreases Stock Holdings in Hancock Whitney Co. (NASDAQ:HWC)

Renaissance Technologies LLC lowered its stake in Hancock Whitney Co. (NASDAQ:HWC) by 83.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,873 shares of the company’s stock after selling 35,500 shares during the period. Renaissance Technologies LLC’s holdings in Hancock Whitney were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Triad Wealth Partners LLC purchased a new stake in Hancock Whitney during the second quarter valued at approximately $31,000. Mather Group LLC. purchased a new stake in Hancock Whitney during the second quarter valued at approximately $37,000. Headlands Technologies LLC purchased a new stake in Hancock Whitney during the second quarter valued at approximately $43,000. CWM LLC increased its holdings in 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 buying an additional 718 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Hancock Whitney during the second quarter valued at approximately $63,000. Institutional investors own 81.22% of the company’s stock.

Hancock Whitney Price Performance

HWC stock opened at $52.50 on Friday. Hancock Whitney Co. has a 52 week low of $32.16 and a 52 week high of $57.78. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $50.45 and a two-hundred day simple moving average of $48.34. The firm has a market capitalization of $4.53 billion, a P/E ratio of 12.35 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, July 16th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The business had revenue of $359.60 million during the quarter, compared to analyst estimates of $359.11 million. During the same quarter last year, the business earned $1.35 earnings per share. Hancock Whitney’s quarterly revenue was up .7% compared to the same quarter last year. Analysts anticipate that Hancock Whitney Co. will post 5.14 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Thursday, September 5th. Hancock Whitney’s dividend payout ratio is currently 37.65%.

Insider Activity

In related news, Director Frank E. Bertucci sold 2,053 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the transaction, the director now owns 22,554 shares of the company’s stock, valued at $1,286,254.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. DA Davidson upped their price target on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Hovde Group upped their price target on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. 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 report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report 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. According to data from MarketBeat.com, Hancock Whitney has a consensus rating of “Moderate Buy” and an average target price of $56.67.

Hancock Whitney 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.