Intech Investment Management LLC Has $3.88 Million Holdings in Hancock Whitney Corporation $HWC

Intech Investment Management LLC boosted its stake in Hancock Whitney Corporation (NASDAQ:HWC) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,038 shares of the company’s stock after purchasing an additional 8,149 shares during the period. Intech Investment Management LLC owned about 0.07% of Hancock Whitney worth $3,884,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of Hancock Whitney by 11.3% during the third quarter. US Bancorp DE now owns 3,052 shares of the company’s stock valued at $191,000 after acquiring an additional 310 shares during the last quarter. Avant Capital LLC acquired a new stake in Hancock Whitney in the third quarter valued at $202,000. AXQ Capital LP bought a new position in Hancock Whitney during the 3rd quarter worth $247,000. Jupiter Asset Management Ltd. acquired a new position in Hancock Whitney during the 3rd quarter worth about $1,169,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Hancock Whitney by 2.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,286 shares of the company’s stock worth $2,209,000 after buying an additional 948 shares during the period. Institutional investors and hedge funds own 81.22% of the company’s stock.

Analyst Ratings Changes

HWC has been the topic of several recent analyst reports. Barclays began coverage on shares of Hancock Whitney in a report on Wednesday, December 17th. They issued an “overweight” rating and a $76.00 target price on the stock. DA Davidson boosted their price objective on Hancock Whitney from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods upped their target price on Hancock Whitney from $70.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Zacks Research upgraded Hancock Whitney from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler boosted their price target on Hancock Whitney from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Hancock Whitney currently has an average rating of “Buy” and an average price target of $75.63.

Hancock Whitney Stock Down 5.9%

HWC stock opened at $65.81 on Monday. The firm has a market capitalization of $5.50 billion, a PE ratio of 11.59 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.04. Hancock Whitney Corporation has a twelve month low of $43.90 and a twelve month high of $75.43. The stock’s 50 day moving average is $68.43 and its 200-day moving average is $63.68.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, January 20th. The company reported $1.49 EPS 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 analyst estimates of $391.63 million. Hancock Whitney had a return on equity of 11.16% and a net margin of 24.05%.During the same period in the prior year, the firm posted $1.40 EPS. Sell-side analysts expect that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. Hancock Whitney’s payout ratio is 31.69%.

Insiders Place Their Bets

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $68.57, for a total value of $358,415.39. Following the completion of the sale, the insider directly owned 33,301 shares of the company’s stock, valued at approximately $2,283,449.57. This represents a 13.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.91% of the company’s stock.

About Hancock Whitney

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.