Short Interest in Hancock Whitney Co. (NASDAQ:HWC) Decreases By 15.4%

16 Oct 2024, 22:31 by Doug Wharley · The Cerbat Gem

Hancock Whitney Co. (NASDAQ:HWC – Get Free Report) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,410,000 shares, a decline of 15.4% from the September 15th total of 2,850,000 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 550,400 shares, the days-to-cover ratio is currently 4.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. DA Davidson raised their price target on Hancock Whitney from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group decreased their target price on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Piper Sandler raised their target price on Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Hovde Group boosted their price target on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.89.

Read Our Latest Stock Analysis on HWC

Hancock Whitney Trading Down 0.8 %

Shares of NASDAQ:HWC traded down $0.45 during midday trading on Wednesday, hitting $53.32. 978,257 shares of the stock were exchanged, compared to its average volume of 502,517. The business’s 50-day moving average price is $50.79 and its 200 day moving average price is $48.53. Hancock Whitney has a 12 month low of $32.16 and a 12 month high of $57.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 12.43 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC – Get Free Report) last posted its earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm had revenue of $525.37 million for the quarter, compared to analyst estimates of $363.54 million. During the same period in the previous year, the firm posted $1.12 EPS. Analysts predict that Hancock Whitney will post 5.14 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. Hancock Whitney’s payout ratio is 37.30%.

Insider Activity at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the transaction, the director now directly owns 22,554 shares of the company’s stock, valued at approximately $1,286,254.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HWC. nVerses Capital LLC bought a new position in Hancock Whitney during the 3rd quarter worth approximately $72,000. Hunter Perkins Capital Management LLC boosted its position in Hancock Whitney by 10.3% during the third quarter. Hunter Perkins Capital Management LLC now owns 15,915 shares of the company’s stock valued at $814,000 after acquiring an additional 1,480 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in Hancock Whitney during the 3rd quarter worth about $1,818,000. CHICAGO TRUST Co NA bought a new position in shares of Hancock Whitney in the 3rd quarter worth about $202,000. Finally, CWM LLC lifted its stake in shares of Hancock Whitney by 170.3% in the 3rd quarter. CWM LLC now owns 2,662 shares of the company’s stock valued at $136,000 after purchasing an additional 1,677 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.

About Hancock Whitney

(Get Free Report)

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.