Hancock Whitney (NASDAQ:HWC) Shares Gap Down – Here’s What Happened

Hancock Whitney Corporation (NASDAQ:HWC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $77.00, but opened at $73.46. Hancock Whitney shares last traded at $77.7830, with a volume of 114,654 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on HWC. Stephens decreased their target price on Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Citigroup reiterated a “buy” rating on shares of Hancock Whitney in a research report on Thursday, July 23rd. Benchmark increased their price objective on Hancock Whitney from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Hovde Group lowered Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price objective on the stock. in a report on Friday, June 12th. Finally, Barclays lifted their target price on shares of Hancock Whitney from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday. One equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of $83.78.

Hancock Whitney Trading Up 1.0%

The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 15.40 and a beta of 0.95. The company has a fifty day moving average price of $73.46 and a two-hundred day moving average price of $69.28. 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, meeting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The firm had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $398.89 million. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts forecast 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. Shareholders of record on Friday, September 4th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. Hancock Whitney’s dividend payout ratio (DPR) is 39.22%.

Insider Buying and Selling at Hancock Whitney

In related news, Director Christine L. Pickering sold 417 shares of the company’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 sale, the director owned 25,066 shares of the company’s stock, valued at approximately $1,683,432.56. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the sale, the chief financial officer owned 44,160 shares of the company’s stock, valued at approximately $3,364,108.80. The trade was a 33.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Hancock Whitney

Several institutional investors and hedge funds have recently bought and sold shares of the company. Torren Management LLC purchased a new stake in shares of Hancock Whitney during the 4th quarter valued at approximately $32,000. Hilton Head Capital Partners LLC purchased a new position in Hancock Whitney in the fourth quarter worth approximately $35,000. Root Financial Partners LLC grew its position in Hancock Whitney by 70.9% in the first quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock worth $39,000 after acquiring an additional 254 shares during the period. IFP Advisors Inc increased its stake in Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after acquiring an additional 253 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Hancock Whitney during the fourth quarter worth $40,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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.