Hancock Whitney (NASDAQ:HWC) Issues Earnings Results

Hancock Whitney (NASDAQ:HWC) released its quarterly earnings data on Tuesday. The company reported $1.66 EPS for the quarter, meeting the consensus estimate of $1.66, FiscalAI reports. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%. The firm had revenue of $421.91 million during the quarter, compared to the consensus estimate of $421.75 million.

Hancock Whitney Stock Up 2.2%

NASDAQ:HWC traded up $1.63 on Tuesday, hitting $74.13. The stock had a trading volume of 1,272,641 shares, compared to its average volume of 861,208. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $5.95 billion, a P/E ratio of 14.54 and a beta of 0.97. Hancock Whitney has a 1 year low of $55.11 and a 1 year high of $80.13. The firm’s fifty day simple moving average is $74.54 and its two-hundred day simple moving average is $72.20.

Hancock Whitney Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 4th. Hancock Whitney’s dividend payout ratio is presently 39.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Keefe, Bruyette & Woods boosted their price target on shares of Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a research note on Wednesday, July 22nd. Piper Sandler restated an “overweight” rating and set a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Barclays upped their price objective on shares of Hancock Whitney from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Finally, Citigroup dropped their price objective on shares of Hancock Whitney from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Hancock Whitney has an average rating of “Moderate Buy” and an average price target of $84.56.

Insider Activity at Hancock Whitney

In other news, CFO Michael Achary sold 22,694 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was 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. The trade was a 33.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the completion of the transaction, the insider directly owned 15,565 shares of the company’s stock, valued at approximately $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is owned by company insiders.

Hancock Whitney Company Profile

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. The bank provides banking and financial services to individuals, businesses, and institutions through branches and digital banking channels.

Its products and services include checking and savings accounts, consumer and commercial lending, residential mortgages, credit cards, treasury and cash management services, and online and mobile banking.