Wellington Management Group LLP Has $35.47 Million Position in Hancock Whitney Co. (NASDAQ:HWC)

Wellington Management Group LLP reduced its stake in shares of Hancock Whitney Co. (NASDAQ:HWC) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 974,351 shares of the company’s stock after selling 48,062 shares during the quarter. Wellington Management Group LLP’s holdings in Hancock Whitney were worth $35,466,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in HWC. Parkside Financial Bank & Trust lifted its stake in Hancock Whitney by 51.6% in the first quarter. Parkside Financial Bank & Trust now owns 937 shares of the company’s stock valued at $34,000 after acquiring an additional 319 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Hancock Whitney in the first quarter valued at approximately $38,000. Covestor Ltd lifted its stake in Hancock Whitney by 81.0% in the first quarter. Covestor Ltd now owns 760 shares of the company’s stock valued at $40,000 after acquiring an additional 340 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Hancock Whitney in the fourth quarter valued at approximately $45,000. Finally, Ellevest Inc. lifted its stake in Hancock Whitney by 38.5% in the first quarter. Ellevest Inc. now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 357 shares during the last quarter. 84.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Piper Sandler cut shares of Hancock Whitney from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $46.00 in a research note on Wednesday, July 19th. Stephens lifted their target price on shares of Hancock Whitney from $43.00 to $47.00 in a research note on Wednesday, July 19th. Jefferies Financial Group lowered shares of Hancock Whitney from a “buy” rating to a “hold” rating and dropped their price target for the company from $45.00 to $42.00 in a research report on Tuesday, July 11th. StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James lowered shares of Hancock Whitney from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $45.00 to $46.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.56.

Hancock Whitney Trading Down 3.0 %

Shares of HWC stock opened at $39.47 on Friday. Hancock Whitney Co. has a 1 year low of $31.02 and a 1 year high of $57.00. The firm’s fifty day simple moving average is $41.87 and its 200 day simple moving average is $39.91. The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.58 and a beta of 1.32. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.07.

Hancock Whitney (NASDAQ:HWC) last announced its earnings results on Tuesday, July 18th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.01. Hancock Whitney had a net margin of 29.92% and a return on equity of 15.39%. The business had revenue of $359.97 million for the quarter, compared to analyst estimates of $364.50 million. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Hancock Whitney’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Hancock Whitney Co. will post 5.18 EPS for the current year.

Hancock Whitney Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, September 1st. Hancock Whitney’s dividend payout ratio (DPR) is currently 20.00%.

Insider Buying and Selling

In other Hancock Whitney news, CFO Michael M. Achary sold 12,185 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $42.11, for a total value of $513,110.35. Following the sale, the chief financial officer now owns 39,948 shares of the company’s stock, valued at approximately $1,682,210.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hancock Whitney news, Director Carleton Richard Wilkins sold 1,110 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $42.86, for a total value of $47,574.60. Following the sale, the director now owns 14,657 shares of the company’s stock, valued at approximately $628,199.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Achary sold 12,185 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $42.11, for a total transaction of $513,110.35. Following the completion of the sale, the chief financial officer now directly owns 39,948 shares in the company, valued at approximately $1,682,210.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,704 shares of company stock valued at $1,678,019. 1.00% of the stock is owned by company insiders.

Hancock Whitney Company Profile

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 checking and saving accounts including currency exchange and overdraft services; and range of loan products, which includes credit personal and home equity, construction, and term loans, mortgage facilities, credit cards, equipment finance, line of credit, leasing, commercial loan programs, asset based lending services, derivatives, and equipment and litigation finance, as well as new markets tax credit investment including bridge finance.