Zurcher Kantonalbank Zurich Cantonalbank Buys 3,420 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hancock Whitney Co. (NASDAQ:HWC) by 22.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,591 shares of the company’s stock after acquiring an additional 3,420 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hancock Whitney were worth $903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Hancock Whitney in the fourth quarter valued at about $29,000. Blue Trust Inc. boosted its stake in Hancock Whitney by 32.4% in the 4th quarter. Blue Trust Inc. now owns 2,569 shares of the company’s stock valued at $125,000 after buying an additional 628 shares in the last quarter. DMC Group LLC acquired a new position in Hancock Whitney during the fourth quarter worth $205,000. Trust Point Inc. acquired a new stake in shares of Hancock Whitney in the 4th quarter valued at $216,000. Finally, Neville Rodie & Shaw Inc. acquired a new stake in shares of Hancock Whitney during the 4th quarter worth about $236,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hancock Whitney

In related news, insider Christopher S. Ziluca sold 3,636 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $43.50, for a total transaction of $158,166.00. Following the completion of the transaction, the insider now directly owns 35,285 shares in the company, valued at $1,534,897.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HWC. Jefferies Financial Group cut their price objective on Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Truist Financial lowered their price target on shares of Hancock Whitney from $50.00 to $46.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Stephens reissued an “equal weight” rating and issued a $50.00 target price on shares of Hancock Whitney in a research note on Wednesday, April 17th. Raymond James raised their price target on Hancock Whitney from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 target price (down previously from $55.00) on shares of Hancock Whitney in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.71.

Hancock Whitney Price Performance

Shares of HWC opened at $46.74 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. Hancock Whitney Co. has a 52-week low of $31.02 and a 52-week high of $49.65. The stock has a 50 day simple moving average of $43.84 and a 200 day simple moving average of $42.98. The firm has a market capitalization of $4.05 billion, a PE ratio of 10.90 and a beta of 1.33.

Hancock Whitney Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, June 5th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, June 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. Hancock Whitney’s dividend payout ratio is presently 27.97%.

Hancock Whitney 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 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.