Retirement Systems of Alabama lowered its holdings in Hancock Whitney Co. (NASDAQ:HWC – Free Report) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,967 shares of the company’s stock after selling 979 shares during the period. Retirement Systems of Alabama owned about 0.13% of Hancock Whitney worth $4,076,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of HWC. Ameritas Advisory Services LLC bought a new position in Hancock Whitney in the first quarter worth about $38,000. Covestor Ltd increased its stake in shares of Hancock Whitney by 81.0% in the first quarter. Covestor Ltd now owns 760 shares of the company’s stock valued at $40,000 after purchasing an additional 340 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of Hancock Whitney in the fourth quarter valued at approximately $45,000. Spire Wealth Management increased its stake in shares of Hancock Whitney by 189.4% in the fourth quarter. Spire Wealth Management now owns 981 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Hancock Whitney by 151.1% in the first quarter. Lazard Asset Management LLC now owns 904 shares of the company’s stock valued at $47,000 after purchasing an additional 544 shares during the period. Institutional investors own 82.95% of the company’s stock.
Insider Activity
In other Hancock Whitney news, CFO Michael M. Achary sold 12,185 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $42.11, for a total transaction of $513,110.35. Following the sale, the chief financial officer now directly owns 39,948 shares of the company’s stock, valued at $1,682,210.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael M. Achary sold 12,185 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $42.11, for a total value of $513,110.35. Following the transaction, the chief financial officer now directly owns 39,948 shares in the company, valued at $1,682,210.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry Merritt Lane III bought 2,000 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was purchased at an average price of $32.85 per share, for a total transaction of $65,700.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $65,700. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.
Hancock Whitney Price Performance
Hancock Whitney (NASDAQ:HWC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.34 by $0.01. Hancock Whitney had a net margin of 29.92% and a return on equity of 15.39%. The business had revenue of $359.97 million for the quarter, compared to analysts’ expectations of $364.50 million. During the same period in the previous year, the company posted $1.38 EPS. Hancock Whitney’s revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Hancock Whitney Co. will post 5.23 earnings per share for the current fiscal year.
Hancock Whitney Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, June 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, June 2nd. Hancock Whitney’s dividend payout ratio is currently 20.00%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. DA Davidson raised their price target on shares of Hancock Whitney from $44.50 to $49.00 in a research note on Wednesday, July 19th. Piper Sandler lowered shares of Hancock Whitney from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $46.00 in a research note on Wednesday, July 19th. Raymond James lowered shares of Hancock Whitney from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $45.00 to $46.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Jefferies Financial Group lowered shares of Hancock Whitney from a “buy” rating to a “hold” rating and lowered their price objective for the company from $45.00 to $42.00 in a research note on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Hancock Whitney from $45.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hancock Whitney currently has a consensus rating of “Hold” and an average price target of $45.56.
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 checking and saving accounts including currency exchange and overdraft services; and range of loan products, which includes credit personal and home equity, construction, and term loans, mortgage facilities, credit cards, equipment finance, line of credit, leasing, commercial loan programs, asset based lending services, derivatives, and equipment and litigation finance, as well as new markets tax credit investment including bridge finance.
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