Mutual of America Capital Management LLC Reduces Holdings in Hancock Whitney Corporation $HWC

Mutual of America Capital Management LLC lowered its position in Hancock Whitney Corporation (NASDAQ:HWC) by 7.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 170,281 shares of the company’s stock after selling 12,815 shares during the period. Mutual of America Capital Management LLC owned 0.20% of Hancock Whitney worth $10,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HWC. Norges Bank acquired a new stake in shares of Hancock Whitney in the second quarter valued at about $60,224,000. First Trust Advisors LP raised its holdings in Hancock Whitney by 83.0% in the 2nd quarter. First Trust Advisors LP now owns 850,639 shares of the company’s stock valued at $48,827,000 after acquiring an additional 385,784 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Hancock Whitney by 89.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 496,810 shares of the company’s stock worth $28,517,000 after purchasing an additional 235,261 shares in the last quarter. American Century Companies Inc. lifted its stake in Hancock Whitney by 15.7% in the 2nd quarter. American Century Companies Inc. now owns 1,695,276 shares of the company’s stock worth $97,309,000 after purchasing an additional 229,615 shares in the last quarter. Finally, CSM Advisors LLC purchased a new stake in shares of Hancock Whitney in the second quarter valued at approximately $8,301,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

Insiders Place Their Bets

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $68.57, for a total value of $358,415.39. Following the sale, the insider owned 33,301 shares of the company’s stock, valued at $2,283,449.57. The trade was a 13.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.91% of the company’s stock.

Hancock Whitney Stock Up 0.4%

Shares of HWC opened at $67.42 on Tuesday. The company’s 50-day moving average price is $64.62 and its 200 day moving average price is $61.87. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $71.20. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.04. The firm has a market cap of $5.64 billion, a P/E ratio of 11.87 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $81.55 million during the quarter, compared to analysts’ expectations of $391.63 million. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. During the same period last year, the business earned $1.40 earnings per share. On average, sell-side analysts forecast that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HWC shares. DA Davidson lifted their price objective on Hancock Whitney from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Barclays began coverage on Hancock Whitney in a research note on Wednesday, December 17th. They issued an “overweight” rating and a $76.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Hancock Whitney in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler boosted their target price on shares of Hancock Whitney from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Hancock Whitney has an average rating of “Buy” and a consensus price target of $75.25.

Hancock Whitney Company Profile

Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company’s core business activities include commercial banking, retail banking and wealth management services.