Sei Investments Co. Sells 7,315 Shares of Hancock Whitney Corporation $HWC

Sei Investments Co. lessened its stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 5.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 117,980 shares of the company’s stock after selling 7,315 shares during the quarter. Sei Investments Co. owned about 0.15% of Hancock Whitney worth $7,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HWC. Amundi acquired a new stake in Hancock Whitney during the first quarter worth approximately $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hancock Whitney by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company’s stock valued at $2,710,000 after purchasing an additional 2,255 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Hancock Whitney by 22.9% in the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company’s stock valued at $197,000 after purchasing an additional 700 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Hancock Whitney by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company’s stock worth $15,078,000 after purchasing an additional 11,551 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Hancock Whitney by 951.9% during the first quarter. Jane Street Group LLC now owns 123,812 shares of the company’s stock worth $6,494,000 after purchasing an additional 112,042 shares during the period. Institutional investors own 81.22% of the company’s stock.

Insider Buying and Selling at Hancock Whitney

In related news, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction 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 approximately $3,364,108.80. This trade represents a 33.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine L. Pickering sold 417 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $67.16, for a total value of $28,005.72. Following the completion of the transaction, the director directly owned 25,066 shares of the company’s stock, valued at approximately $1,683,432.56. This trade represents a 1.64% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company’s stock.

Hancock Whitney Price Performance

NASDAQ HWC opened at $77.00 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 15.10 and a beta of 0.95. The company has a 50 day moving average of $73.05 and a 200-day moving average of $69.12. Hancock Whitney Corporation has a 1-year low of $54.05 and a 1-year high of $79.36.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $403.57 million for the quarter, compared to the consensus estimate of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. On average, equities research analysts expect that Hancock Whitney Corporation will post 6.45 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 4th. Hancock Whitney’s dividend payout ratio is 39.22%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Benchmark boosted their price target on Hancock Whitney from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Weiss Ratings downgraded Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Raymond James Financial reissued a “strong-buy” rating and set a $87.00 target price on shares of Hancock Whitney in a report on Wednesday, July 22nd. Finally, Wall Street Zen cut shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.56.

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.