Hancock Whitney Corporation (NASDAQ:HWC) Receives $71.13 Average Target Price from Brokerages
by Teresa Graham · The Cerbat GemShares of Hancock Whitney Corporation (NASDAQ:HWC – Get Free Report) have been given a consensus rating of “Buy” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $71.1250.
HWC has been the topic of several research analyst reports. Raymond James Financial dropped their target price on shares of Hancock Whitney from $73.00 to $72.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, November 11th. Citigroup raised their price target on shares of Hancock Whitney from $71.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Barclays started coverage on Hancock Whitney in a research note on Wednesday, December 17th. They set an “overweight” rating and a $76.00 target price for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Hancock Whitney in a research note on Monday, December 29th.
Check Out Our Latest Research Report on Hancock Whitney
Hancock Whitney Stock Up 1.2%
Shares of HWC opened at $64.46 on Friday. The business’s fifty day moving average price is $61.44 and its two-hundred day moving average price is $60.81. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 11.53 and a beta of 1.05. Hancock Whitney has a 52 week low of $43.90 and a 52 week high of $67.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81.
Hancock Whitney (NASDAQ:HWC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Hancock Whitney had a return on equity of 11.29% and a net margin of 23.99%.The business had revenue of $175.56 million for the quarter, compared to analyst estimates of $391.32 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, analysts predict that Hancock Whitney will post 5.53 earnings per share for the current year.
Hancock Whitney Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, December 5th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, December 5th. Hancock Whitney’s dividend payout ratio is presently 32.20%.
Insider Transactions at Hancock Whitney
In other Hancock Whitney news, CFO Michael M. Achary sold 9,894 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $54.86, for a total transaction of $542,784.84. Following the sale, the chief financial officer directly owned 55,733 shares in the company, valued at $3,057,512.38. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.91% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Hancock Whitney by 6.5% in the third quarter. Blue Trust Inc. now owns 3,181 shares of the company’s stock worth $199,000 after acquiring an additional 195 shares during the period. BTC Capital Management Inc. boosted its stake in Hancock Whitney by 3.0% during the 2nd quarter. BTC Capital Management Inc. now owns 7,459 shares of the company’s stock valued at $427,000 after purchasing an additional 219 shares during the last quarter. Arizona State Retirement System increased its holdings in Hancock Whitney by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 25,334 shares of the company’s stock worth $1,586,000 after purchasing an additional 238 shares in the last quarter. IFP Advisors Inc grew 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 acquiring an additional 253 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Hancock Whitney by 11.3% during the third quarter. US Bancorp DE now owns 3,052 shares of the company’s stock worth $191,000 after buying an additional 310 shares during the last quarter. Institutional investors own 81.22% of the company’s stock.
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.
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