New York State Teachers Retirement System Sells 34,690 Shares of Hancock Whitney Corporation $HWC

New York State Teachers Retirement System decreased its position in Hancock Whitney Corporation (NASDAQ:HWC) by 24.4% in the first quarter, Holdings Channel reports. The firm owned 107,766 shares of the company’s stock after selling 34,690 shares during the period. New York State Teachers Retirement System’s holdings in Hancock Whitney were worth $6,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HWC. SG Americas Securities LLC increased its holdings in Hancock Whitney by 0.6% during the 1st quarter. SG Americas Securities LLC now owns 24,457 shares of the company’s stock worth $1,555,000 after purchasing an additional 153 shares during the period. Vident Advisory LLC lifted its holdings in shares of Hancock Whitney by 4.5% in the 4th quarter. Vident Advisory LLC now owns 3,517 shares of the company’s stock worth $224,000 after buying an additional 153 shares during the period. BTC Capital Management Inc. grew its position in shares of Hancock Whitney by 1.9% during the 1st quarter. BTC Capital Management Inc. now owns 8,472 shares of the company’s stock worth $539,000 after buying an additional 162 shares in the last quarter. Hilton Head Capital Partners LLC grew its position in shares of Hancock Whitney by 31.0% during the 1st quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company’s stock worth $46,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Hancock Whitney by 12.7% during the fourth quarter. GAMMA Investing LLC now owns 1,617 shares of the company’s stock valued at $103,000 after buying an additional 182 shares during the period. Institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Up 0.2%

Shares of Hancock Whitney stock traded up $0.19 on Tuesday, reaching $75.24. The stock had a trading volume of 154,303 shares, compared to its average volume of 882,288. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.11 billion, a P/E ratio of 15.46 and a beta of 0.95. The company has a 50 day moving average price of $69.43 and a 200 day moving average price of $67.71. Hancock Whitney Corporation has a 1 year low of $54.05 and a 1 year high of $76.39.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.04. The company had revenue of $393.64 million during the quarter, compared to analysts’ expectations of $400.01 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. Hancock Whitney’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. As a group, equities research analysts forecast that Hancock Whitney Corporation will post 6.47 EPS for the current year.

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. Hancock Whitney’s dividend payout ratio is presently 41.07%.

Insider Activity at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the completion of the sale, the director owned 25,066 shares in the company, valued at approximately $1,683,432.56. This represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings downgraded Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Hovde Group cut shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 target price on the stock. in a report on Friday, June 12th. Benchmark began coverage on shares of Hancock Whitney in a report on Wednesday, June 24th. They issued a “buy” rating and a $84.00 price target for the company. Barclays reaffirmed an “overweight” rating and issued a $80.00 price target on shares of Hancock Whitney in a research report on Tuesday. Finally, Piper Sandler 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, May 18th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Hancock Whitney currently has a consensus rating of “Buy” and a consensus target price of $79.75.

Hancock Whitney 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.