Citigroup Raises Hancock Whitney (NASDAQ:HWC) Price Target to $55.00

Hancock Whitney (NASDAQ:HWC) had its target price lifted by research analysts at Citigroup from $50.00 to $55.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 13.92% from the stock’s current price.

A number of other research analysts have also recently issued reports on HWC. DA Davidson lifted their price target on Hancock Whitney from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 price target (down from $55.00) on shares of Hancock Whitney in a report on Wednesday, April 17th. Jefferies Financial Group dropped their price objective on Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a report on Monday, April 8th. Stephens reissued an “equal weight” rating and set a $50.00 price objective on shares of Hancock Whitney in a report on Wednesday, April 17th. Finally, StockNews.com cut Hancock Whitney from a “hold” rating to a “sell” rating in a report on Sunday, March 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Hancock Whitney currently has an average rating of “Hold” and a consensus target price of $51.43.

Hancock Whitney Stock Performance

Hancock Whitney stock opened at $48.28 on Monday. The stock has a 50-day simple moving average of $44.26 and a 200 day simple moving average of $43.47. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. Hancock Whitney has a 12-month low of $31.75 and a 12-month high of $49.65. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 11.25 and a beta of 1.31.

Insider Transactions at Hancock Whitney

In other news, insider Cecil W. Knight, Jr. sold 844 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $46.82, for a total transaction of $39,516.08. Following the completion of the transaction, the insider now directly owns 58,843 shares in the company, valued at approximately $2,755,029.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Christine L. Pickering sold 1,300 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,094,058.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 5,780 shares of company stock worth $256,988. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hancock Whitney

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its position in shares of Hancock Whitney by 101.9% in the 1st quarter. SG Americas Securities LLC now owns 10,297 shares of the company’s stock valued at $474,000 after purchasing an additional 5,197 shares during the period. Quantbot Technologies LP acquired a new position in Hancock Whitney during the 1st quarter worth approximately $1,159,000. Texas Permanent School Fund Corp boosted its position in Hancock Whitney by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 75,398 shares of the company’s stock worth $3,471,000 after acquiring an additional 1,008 shares during the last quarter. GSA Capital Partners LLP boosted its position in Hancock Whitney by 280.5% during the 1st quarter. GSA Capital Partners LLP now owns 16,827 shares of the company’s stock worth $775,000 after acquiring an additional 12,405 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Hancock Whitney by 6.8% during the 1st quarter. Nordea Investment Management AB now owns 179,100 shares of the company’s stock worth $8,278,000 after acquiring an additional 11,449 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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 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.