On September 14, 2023, it was reported that Empower Advisory Group LLC had acquired a new stake in Hancock Whitney Co. (NASDAQ:HWC) during the first quarter. According to the company’s disclosure with the Securities & Exchange Commission, the fund purchased 267,902 shares of Hancock Whitney’s stock, valued at approximately $9,883,000. As of its most recent SEC filing, Empower Advisory Group LLC owned around 0.31% of Hancock Whitney.
Multiple analysts have recently commented on HWC shares. StockNews.com upgraded their rating on Hancock Whitney from “sell” to “hold” in a report published on September 7th. Truist Financial also increased their price objective on the stock from $43.00 to $47.00 and gave it a “buy” rating in a report released on July 19th. DA Davidson further raised their price target on HWC shares from $44.50 to $49.00 in their report published on the same day. Raymond James downgraded Hancock Whitney from a “strong-buy” rating to an “outperform” rating and increased their price target from $45.00 to $46.00 in their report as well.
Additionally, Piper Sandler downgraded the stock from “overweight” to “neutral” and reduced their price target for HWC shares from $50.00 to $46.00.
Currently, five equities research analysts are holding a “hold” rating for the stock while three analysts have assigned it a “buy” rating.
As per data from Bloomberg, Hancock Whitney has an average rating of “Hold” and an overall consensus price target of $45.56.
On Thursday’s trading session dated September 14th, NASDAQ:HWC opened at $37.43 per share.
Looking at its technical indicators, the company has recorded a 50-day simple moving average of $41.85 and a 200-day simple moving average of $39.54.
Hancock Whitney Co. has a debt-to-equity ratio of 0.07, indicating a relatively low level of indebtedness. The firm also maintains a current ratio of 0.79 and a quick ratio of 0.78, which suggests it is positioned adequately to meet its short-term obligations.
In terms of market capitalization, the company’s value stands at approximately $3.22 billion.
The stock trades at a price-to-earnings (PE) ratio of 6.24, suggesting that investors can purchase Hancock Whitney shares at a relatively low multiple of its earnings.
With regard to its risk profile, Hancock Whitney has a beta of 1.32, indicating that it is more volatile than the broader market.
Over the past year, Hancock Whitney’s share price has fluctuated between a low of $31.02 and a high of $57.00.
As this article highlights the recent activity surrounding Hancock Whitney Co., it offers valuable information for investors and financial analysts interested in monitoring market trends and potential investment opportunities in the banking sector.
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Hancock Whitney: Hedge Fund and Insider Trading Activity Raises Interest Among Investors and Analysts
The financial market is always a subject of great analysis and scrutiny, as investors strive to make the best decisions for their portfolios. In recent months, there have been several changes in the positions of hedge funds and other institutional investors in Hancock Whitney, a prominent company in the sector. These changes have sparked interest among investors and analysts alike.
One such investor, Pathstone Family Office LLC, has boosted its holdings in Hancock Whitney by 1.9% during the third quarter of this year. This increase translates into an additional 256 shares valued at $624,000. Ziegler Capital Management LLC also increased its holdings by 1.1% during the first quarter, acquiring 315 additional shares worth $1,020,000.
Parkside Financial Bank & Trust experienced substantial growth in its holdings during the first quarter as well, recording an impressive increase of 51.6%. Their new ownership includes an extra 319 shares valued at $34,000. Captrust Financial Advisors followed suit with a 4.4% increase in their holdings during the fourth quarter, acquiring 322 additional shares valued at $374,000.
PNC Financial Services Group Inc., one of the leading institutions in the financial industry, boosted its stake by 12.4% during the first quarter by adding an extra 329 shares valued at $154,000. Overall, hedge funds and other institutional investors now account for approximately 84.45% of Hancock Whitney’s stock.
While these changes show a degree of confidence from these major players in Hancock Whitney’s future prospects, it is essential to consider other factors influencing investment decisions as well. One such factor involves insider trades within the company.
Insider Cecil W. Knight Jr., for instance, sold a total of 1,892 shares on July 26th at an average price of $43.65 per share – amounting to a transaction value of $82,585.80. After the sale, Knight Jr. is left with 33,263 shares valued at $1,451,929.95. This transaction was duly disclosed in a document filed with the Securities & Exchange Commission (SEC).
In a separate transaction on July 31st, CEO John M. Hairston sold 23,517 shares at an average price of $44 per share – resulting in a total transaction value of $1,034,748. Following this sale, Hairston now holds 205,369 shares valued at $9,036,236.
These insider trades can provide some form of insight into the company’s future performance and prospects. However, it is essential to note that insiders’ actions may not always be indicative of the overall direction of the stock.
Investors and analysts have also closely monitored recommendations from various experts regarding Hancock Whitney’s stock. StockNews.com upgraded the stock from “sell” to “hold” recently while Truist Financial raised their price target from $43 to $47 and issued a “buy” rating.
DA Davidson also upped its price target from $44.50 to $49 and Raymond James downgraded their rating from “strong-buy” to “outperform,” recommending an increase in the company’s valuation from $45 to $46 per share.
Finally, Piper Sandler downgraded Hancock Whitney from “overweight” to “neutral,” lowering their price target from $50 to $46 per share.
With five analysts rating the stock as a hold and three assigning it a buy rating on average according to Bloomberg data, it is evident that there is a prevailing sentiment of caution among experts.
Hancock Whitney recently reported its quarterly earnings data for Q3 of this year. The company posted earnings per share of $1.35 for the quarter – surpassing analysts’ projections by one cent.
Revenue for the quarter stood at approximately $360 million against estimates of around $364.5 million. The company’s net margin was 29.92%, and it recorded a return on equity of 15.39%. This represented a 7.8% increase in revenue compared to the same quarter last year when Hancock Whitney reported earnings per share of $1.38.
Looking ahead, analysts expect Hancock Whitney to post earnings per share of approximately $5.19 for the current fiscal year.
In addition to its financial performance, Hancock Whitney also issued a quarterly dividend of $0.30 per share, payable to stockholders on September 15th. Shareholders must have been listed as such by September 5th to receive this dividend, which represents an annualized payout ratio of 20%.
All in all, these recent developments in Hancock Whitney’s holdings and insider trades have garnered attention from investors and experts alike. While hedge funds and institutional investors have shown increased confidence in the company’s prospects, caution remains prevalent among analysts who have provided mixed recommendations.
As investor sentiment continues to evolve, it is crucial for market participants to closely monitor the ongoing developments within the financial industry sector and consider multiple factors before making any investment decisions.
