Northwestern Mutual Wealth Management Co. Makes New $255,000 Investment in Hancock Whitney Corporation $HWC

Northwestern Mutual Wealth Management Co. acquired a new stake in Hancock Whitney Corporation (NASDAQ:HWC) during the second quarter, Holdings Channel.com reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP bought a new position in Hancock Whitney in the 2nd quarter valued at about $28,000. Torren Management LLC bought a new stake in Hancock Whitney during the 4th quarter worth approximately $32,000. Hilton Head Capital Partners LLC bought a new stake in Hancock Whitney during the 4th quarter worth approximately $35,000. Root Financial Partners LLC raised its stake in shares of Hancock Whitney by 70.9% in the first quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock worth $39,000 after purchasing an additional 254 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after buying an additional 253 shares during the last quarter. 81.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HWC has been the topic of several recent analyst reports. Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Wall Street Zen raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Barclays increased their price objective on shares of Hancock Whitney from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $87.00 target price on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, DA Davidson upped their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.78.

Hancock Whitney Trading Down 0.3%

NASDAQ:HWC opened at $75.00 on Friday. The stock’s fifty day moving average price is $76.05 and its two-hundred day moving average price is $70.19. The company has a market cap of $6.02 billion, a P/E ratio of 14.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. Hancock Whitney Corporation has a 1 year low of $54.05 and a 1 year high of $80.13.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business had revenue of $403.57 million during the quarter, compared to analyst estimates of $398.89 million. During the same quarter in the previous year, the firm earned $1.37 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Hancock Whitney Corporation will post 6.44 EPS for the current year.

Hancock Whitney Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 annualized dividend and a yield of 2.7%. Hancock Whitney’s dividend payout ratio (DPR) is currently 39.22%.

Insider Transactions at Hancock Whitney

In related news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the transaction, the insider owned 15,565 shares of the company’s stock, valued at $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $76.18, for a total value of $1,728,828.92. Following the transaction, the chief financial officer owned 44,160 shares in the company, valued at $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.92% of the company’s stock.

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.