Hancock Whitney Co. (NASDAQ:HWC) Shares Sold by Putnam Investments LLC

Putnam Investments LLC trimmed its stake in Hancock Whitney Co. (NASDAQ:HWC – Get Rating) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,906 shares of the company’s stock after selling 918 shares during the quarter. Putnam Investments LLC owned approximately 0.06% of Hancock Whitney worth $2,332,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Hancock Whitney in the second quarter worth about $27,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Hancock Whitney by 279.3% in the third quarter. Rockefeller Capital Management L.P. now owns 660 shares of the company’s stock valued at $30,000 after purchasing an additional 486 shares in the last quarter. River Oaks Capital LLC raised its holdings in shares of Hancock Whitney by 75.0% during the third quarter. River Oaks Capital LLC now owns 700 shares of the company’s stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Covestor Ltd raised its holdings in shares of Hancock Whitney by 81.0% during the first quarter. Covestor Ltd now owns 760 shares of the company’s stock worth $40,000 after acquiring an additional 340 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Hancock Whitney by 151.1% during the first quarter. Lazard Asset Management LLC now owns 904 shares of the company’s stock valued at $47,000 after buying an additional 544 shares in the last quarter. 79.09% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Stock Down 1.8 %

HWC opened at $42.48 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.77 and a quick ratio of 0.77. The company’s 50-day moving average is $49.82 and its 200 day moving average is $50.44. Hancock Whitney Co. has a fifty-two week low of $40.67 and a fifty-two week high of $57.00. The firm has a market capitalization of $3.65 billion, a P/E ratio of 7.10 and a beta of 1.35.

Hancock Whitney (NASDAQ:HWC – Get Rating) last posted its quarterly earnings results on Tuesday, January 17th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.02. The company had revenue of $375.18 million for the quarter, compared to analyst estimates of $388.47 million. Hancock Whitney had a net margin of 35.69% and a return on equity of 15.73%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Research analysts expect that Hancock Whitney Co. will post 6.09 earnings per share for the current fiscal year.

Hancock Whitney Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Monday, March 6th will be issued a $0.30 dividend. The ex-dividend date is Friday, March 3rd. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 2.82%. Hancock Whitney’s dividend payout ratio is 20.07%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HWC shares. Raymond James decreased their target price on Hancock Whitney from $61.00 to $58.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 18th. DA Davidson lowered their target price on shares of Hancock Whitney from $60.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Finally, Truist Financial decreased their price target on shares of Hancock Whitney from $60.00 to $56.00 in a report on Wednesday, January 18th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.33.

Insider Transactions at Hancock Whitney

In other news, insider Cecil W. Knight, Jr. sold 6,675 shares of the stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $50.12, for a total value of $334,551.00. Following the transaction, the insider now owns 30,240 shares in the company, valued at approximately $1,515,628.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

About Hancock Whitney

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Hancock Whitney Corp. operates as a bank holding company, which engages in the provision of financial services. It also offers trust and investment management services to retirement plans, corporations, individuals, brokerage services, annuity products, life insurance, general insurance and agency services, including life, title insurance and consumer financing service.