Michael Achary Sells 22,694 Shares of Hancock Whitney (NASDAQ:HWC) Stock

Hancock Whitney Corporation (NASDAQ:HWC) CFO Michael Achary sold 22,694 shares of the firm’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 sale, the chief financial officer directly owned 44,160 shares of the company’s stock, valued at $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hancock Whitney Stock Up 0.1%

NASDAQ:HWC opened at $76.98 on Thursday. Hancock Whitney Corporation has a twelve month low of $54.05 and a twelve month high of $79.36. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 15.09 and a beta of 0.95. The stock has a fifty day simple moving average of $72.66 and a 200-day simple moving average of $69.00. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on HWC. Raymond James Financial reiterated a “strong-buy” rating and issued a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. Wall Street Zen downgraded Hancock Whitney from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings lowered Hancock Whitney from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Hovde Group cut Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 target price for the company. in a report on Friday, June 12th. Finally, Barclays increased their price target on Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.56.

Hedge Funds Weigh In On Hancock Whitney

Large investors have recently bought and sold shares of the business. Torren Management LLC bought a new stake in Hancock Whitney during the 4th quarter valued at $32,000. Hilton Head Capital Partners LLC purchased a new position in shares of Hancock Whitney in the 4th quarter valued at $35,000. Root Financial Partners LLC raised its position in shares of Hancock Whitney by 70.9% in the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock worth $39,000 after acquiring an additional 254 shares in the last quarter. IFP Advisors Inc raised its position in shares of Hancock Whitney by 67.6% in the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after acquiring an additional 253 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Hancock Whitney during the 4th quarter worth $40,000. Institutional investors own 81.22% 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.