Burns Matteson Capital Management LLC Invests $576,000 in Hancock Whitney Corporation $HWC

Burns Matteson Capital Management LLC bought a new stake in shares of Hancock Whitney Corporation (NASDAQ:HWC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,039 shares of the company’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. increased its position in Hancock Whitney by 10.8% in the third quarter. American Century Companies Inc. now owns 1,878,121 shares of the company’s stock worth $117,589,000 after purchasing an additional 182,845 shares during the last quarter. Norges Bank purchased a new position in shares of Hancock Whitney in the 2nd quarter worth $60,224,000. UBS Group AG increased its holdings in shares of Hancock Whitney by 134.3% in the 3rd quarter. UBS Group AG now owns 909,460 shares of the company’s stock worth $56,941,000 after buying an additional 521,261 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Hancock Whitney by 83.0% in the 2nd quarter. First Trust Advisors LP now owns 850,639 shares of the company’s stock worth $48,827,000 after buying an additional 385,784 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Hancock Whitney by 2.2% during the 3rd quarter. Bank of America Corp DE now owns 686,690 shares of the company’s stock valued at $42,994,000 after buying an additional 14,575 shares in the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Price Performance

HWC stock opened at $63.59 on Wednesday. Hancock Whitney Corporation has a 12 month low of $43.90 and a 12 month high of $75.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $66.99 and a 200 day moving average price of $63.79. The stock has a market cap of $5.19 billion, a PE ratio of 11.20 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $81.55 million for the quarter, compared to analyst estimates of $391.63 million. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. During the same period in the prior year, the company posted $1.40 EPS. Equities research analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Thursday, March 5th were paid a dividend of $0.50 per share. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, March 5th. Hancock Whitney’s payout ratio is currently 35.21%.

Insider Buying and Selling at Hancock Whitney

In related news, insider Christopher S. Ziluca sold 5,227 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $68.57, for a total transaction of $358,415.39. Following the completion of the sale, the insider directly owned 33,301 shares of the company’s stock, valued at approximately $2,283,449.57. This trade represents a 13.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Raymond James Financial upped their price objective on Hancock Whitney from $72.00 to $78.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 7th. DA Davidson raised their price objective on Hancock Whitney from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Citigroup lifted their target price on Hancock Whitney from $78.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $70.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $75.63.

About Hancock Whitney

Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company’s core business activities include commercial banking, retail banking and wealth management services.