Shell Asset Management Co. Sells 340 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Shell Asset Management Co. lessened its stake in Hancock Whitney Co. (NASDAQ:HWC) by 3.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,951 shares of the company’s stock after selling 340 shares during the quarter. Shell Asset Management Co.’s holdings in Hancock Whitney were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HWC. Vanguard Group Inc. lifted its stake in Hancock Whitney by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 9,226,780 shares of the company’s stock worth $424,801,000 after purchasing an additional 34,152 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hancock Whitney by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,749,591 shares of the company’s stock worth $230,786,000 after purchasing an additional 249,944 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hancock Whitney by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,087,610 shares of the company’s stock valued at $52,847,000 after buying an additional 48,174 shares during the last quarter. Norges Bank bought a new position in Hancock Whitney during the fourth quarter valued at approximately $46,846,000. Finally, Wasatch Advisors LP grew its holdings in Hancock Whitney by 3.7% during the 4th quarter. Wasatch Advisors LP now owns 710,251 shares of the company’s stock valued at $34,511,000 after buying an additional 25,215 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

Insider Activity

In related news, Director Christine L. Pickering sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $45.62, for a total value of $59,306.00. Following the transaction, the director now owns 23,982 shares of the company’s stock, valued at approximately $1,094,058.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Cecil W. Knight, Jr. sold 844 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the transaction, the insider now owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine L. Pickering sold 1,300 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $45.62, for a total value of $59,306.00. Following the completion of the transaction, the director now directly owns 23,982 shares of the company’s stock, valued at $1,094,058.84. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HWC shares. StockNews.com upgraded Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Truist Financial lifted their price objective on shares of Hancock Whitney from $49.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Stephens restated an “equal weight” rating and set a $50.00 target price on shares of Hancock Whitney in a research report on Wednesday, April 17th. Citigroup lifted their price target on Hancock Whitney from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Piper Sandler upped their price objective on Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.78.

Hancock Whitney Stock Performance

Hancock Whitney stock opened at $57.12 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $4.95 billion, a P/E ratio of 13.31 and a beta of 1.29. Hancock Whitney Co. has a 1-year low of $32.16 and a 1-year high of $57.78. The company’s 50-day moving average is $47.84 and its 200 day moving average is $45.83.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.11. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The firm had revenue of $359.60 million for the quarter, compared to the consensus estimate of $359.11 million. During the same period in the prior year, the business posted $1.35 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts forecast that Hancock Whitney Co. will post 5.1 EPS for the current year.

Hancock Whitney Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. Hancock Whitney’s dividend payout ratio (DPR) is 37.30%.

About Hancock Whitney

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.