Elevation Point Wealth Partners LLC Invests $637,000 in Hancock Whitney Corporation $HWC

Elevation Point Wealth Partners LLC purchased a new stake in Hancock Whitney Corporation (NASDAQ:HWC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,531 shares of the company’s stock, valued at approximately $637,000.

Several other hedge funds also recently added to or reduced their stakes in HWC. Allworth Financial LP purchased a new stake in shares of Hancock Whitney during the 2nd quarter worth approximately $28,000. Torren Management LLC purchased a new position in shares of Hancock Whitney during the fourth quarter worth approximately $32,000. Hilton Head Capital Partners LLC purchased a new position in Hancock Whitney during the 4th quarter worth $35,000. Root Financial Partners LLC increased its position in Hancock Whitney by 70.9% in the 1st quarter. Root Financial Partners LLC now owns 612 shares of the company’s stock valued at $39,000 after acquiring an additional 254 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. DA Davidson increased their price target on shares of Hancock Whitney from $79.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wall Street Zen raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Hovde Group downgraded Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price target for the company. in a research report on Friday, June 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Hancock Whitney from $78.00 to $80.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Hancock Whitney has a consensus rating of “Moderate Buy” and an average price target of $83.78.

Insider Activity at Hancock Whitney

In other news, CFO Michael M. Achary sold 22,694 shares of the 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 completion of the sale, the chief financial officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the transaction, the insider directly owned 15,565 shares in the company, valued at approximately $1,189,166. This represents a 24.28% decrease in their position. The SEC filing for this sale provides additional information. 0.92% of the stock is owned by insiders.

Hancock Whitney Stock Performance

Hancock Whitney stock opened at $74.86 on Tuesday. The stock’s 50-day moving average is $75.77 and its 200-day moving average is $70.17. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 14.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. Hancock Whitney Corporation has a 12 month low of $54.05 and a 12 month high of $80.13.

Hancock Whitney (NASDAQ:HWC) last issued its 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 during the quarter, compared to analysts’ expectations of $398.89 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. Equities analysts anticipate 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. Shareholders of record on Friday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, September 4th. Hancock Whitney’s payout ratio is currently 39.22%.

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.