Metropolitan Life Insurance Co NY cut its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC – Get Rating) by 84.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the company's stock after selling 30,120 shares during the period. Metropolitan Life Insurance Co NY's holdings in Hancock Whitney were worth $282,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of HWC. Prospera Financial Services Inc boosted its stake in Hancock Whitney by 2.1% in the first quarter. Prospera Financial Services Inc now owns 11,118 shares of the company's stock valued at $580,000 after buying an additional 231 shares in the last quarter. Csenge Advisory Group boosted its stake in shares of Hancock Whitney by 4.1% in the 1st quarter. Csenge Advisory Group now owns 7,532 shares of the company's stock valued at $393,000 after purchasing an additional 295 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Hancock Whitney by 12.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,980 shares of the company's stock valued at $154,000 after purchasing an additional 329 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Hancock Whitney by 14.4% during the 1st quarter. Belpointe Asset Management LLC now owns 2,916 shares of the company's stock valued at $153,000 after purchasing an additional 367 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Hancock Whitney by 1.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the company's stock valued at $1,150,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 79.01% of the company's stock.
Get Hancock Whitney alerts:Hancock Whitney Stock Performance
NASDAQ:HWC opened at $47.89 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.76 and a current ratio of 0.76. Hancock Whitney Co. has a fifty-two week low of $41.62 and a fifty-two week high of $59.82. The company has a 50 day simple moving average of $47.75 and a two-hundred day simple moving average of $48.95. The company has a market capitalization of $4.10 billion, a PE ratio of 8.27 and a beta of 1.38.
Hancock Whitney (NASDAQ:HWC – Get Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. Hancock Whitney had a net margin of 38.60% and a return on equity of 14.41%. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Research analysts anticipate that Hancock Whitney Co. will post 5.85 earnings per share for the current year.Hancock Whitney Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, September 2nd. Hancock Whitney's dividend payout ratio (DPR) is presently 18.65%.
Insider Activity
In other Hancock Whitney news, CEO John M. Hairston sold 26,473 shares of Hancock Whitney stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $47.15, for a total value of $1,248,201.95. Following the completion of the sale, the chief executive officer now directly owns 201,633 shares in the company, valued at $9,506,995.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Cecil W. Knight, Jr. sold 1,250 shares of the firm's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $49.24, for a total value of $61,550.00. Following the completion of the sale, the insider now directly owns 30,260 shares in the company, valued at approximately $1,490,002.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John M. Hairston sold 26,473 shares of the business's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $47.15, for a total value of $1,248,201.95. Following the completion of the sale, the chief executive officer now directly owns 201,633 shares of the company's stock, valued at $9,506,995.95. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on HWC. DA Davidson boosted their target price on shares of Hancock Whitney from $56.00 to $60.00 in a research note on Tuesday, August 16th. Stephens upped their target price on Hancock Whitney to $57.00 in a report on Friday, July 22nd. Truist Financial cut their price target on Hancock Whitney from $63.00 to $58.00 in a research note on Wednesday, June 15th. Jefferies Financial Group dropped their price objective on shares of Hancock Whitney from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, July 11th. Finally, Piper Sandler boosted their target price on shares of Hancock Whitney to $60.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $58.00.
Hancock Whitney Profile
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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 accepts various deposit products, including noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.
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