536,832 Shares in Hancock Whitney Corporation $HWC Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 536,832 shares of the company’s stock, valued at approximately $40,112,000.

Several other large investors also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Hancock Whitney during the 2nd quarter worth $1,380,000. Pinnacle Holdings LLC acquired a new stake in shares of Hancock Whitney in the 2nd quarter valued at $464,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Hancock Whitney in the 2nd quarter valued at $637,000. Northwestern Mutual Wealth Management Co. bought a new stake in Hancock Whitney in the second quarter worth $79,000. Finally, Emerald Investment Advisers LLC acquired a new position in Hancock Whitney during the second quarter worth $3,085,000. 81.22% of the stock is owned by institutional investors.

Insider Activity at Hancock Whitney

In other Hancock Whitney news, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer directly owned 44,160 shares in the company, valued at $3,364,108.80. This trade represents a 33.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the transaction, the insider owned 15,565 shares in the company, valued at approximately $1,189,166. The trade was a 24.28% decrease in their position. The SEC filing for this sale provides additional information. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on HWC. Wall Street Zen upgraded Hancock Whitney from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Raymond James Financial reissued a “strong-buy” rating and set a $87.00 price objective on shares of Hancock Whitney in a report on Wednesday, July 22nd. Stephens cut their price objective on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Finally, Zacks Research cut Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.78.

Hancock Whitney Trading Up 0.8%

Hancock Whitney stock opened at $75.23 on Thursday. Hancock Whitney Corporation has a 52 week low of $54.05 and a 52 week high of $80.13. 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 firm has a market capitalization of $6.03 billion, a PE ratio of 14.75 and a beta of 0.95. The business’s 50-day simple moving average is $75.95 and its 200-day simple moving average is $70.19.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The firm had revenue of $403.57 million during 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 revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. Equities research analysts forecast that Hancock Whitney Corporation will post 6.44 earnings per share for the current year.

Hancock Whitney Announces Dividend

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

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.