Truist Financial Corp Has $616,000 Position in Hancock Whitney Co. (NASDAQ:HWC)

Truist Financial Corp reduced its holdings in Hancock Whitney Co. (NASDAQ:HWC) by 13.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,883 shares of the company’s stock after selling 1,963 shares during the quarter. Truist Financial Corp’s holdings in Hancock Whitney were worth $616,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Hancock Whitney by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 9,192,628 shares of the company’s stock valued at $446,670,000 after purchasing an additional 95,432 shares in the last quarter. BTC Capital Management Inc. bought a new stake in Hancock Whitney in the first quarter valued at approximately $349,000. State of Michigan Retirement System increased its stake in 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 purchasing an additional 500 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Hancock Whitney by 1.6% during the first quarter. Principal Financial Group Inc. now owns 327,101 shares of the company’s stock worth $15,060,000 after acquiring an additional 5,262 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Hancock Whitney by 9.6% during the first quarter. Commonwealth Equity Services LLC now owns 52,811 shares of the company’s stock worth $2,431,000 after acquiring an additional 4,609 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Trading Up 1.4 %

Shares of Hancock Whitney stock opened at $53.77 on Wednesday. The firm has a market capitalization of $4.66 billion, a PE ratio of 12.53 and a beta of 1.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $50.67 and its 200 day moving average is $48.49. Hancock Whitney Co. has a 1 year low of $32.16 and a 1 year high of $57.78.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. Equities research analysts forecast that Hancock Whitney Co. will post 5.14 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, September 5th. Hancock Whitney’s dividend payout ratio (DPR) is presently 37.30%.

Insider Activity at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of Hancock Whitney stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the sale, the director now directly owns 22,554 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HWC. Truist Financial lowered their price objective on shares of 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 increased their price objective 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. Jefferies Financial Group lowered their price objective 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. Keefe, Bruyette & Woods increased their price objective 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. Finally, Hovde Group increased their price objective 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.