Basswood Capital Management L.L.C. Purchases 163,438 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Basswood Capital Management L.L.C. increased its position in Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 36.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 607,239 shares of the company's stock after acquiring an additional 163,438 shares during the period. Hancock Whitney makes up about 1.6% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 20th biggest position. Basswood Capital Management L.L.C. owned approximately 0.71% of Hancock Whitney worth $31,072,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. AlphaMark Advisors LLC lifted its stake in Hancock Whitney by 5.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 6,622 shares of the company's stock valued at $317,000 after buying an additional 356 shares in the last quarter. Blue Trust Inc. increased its position in Hancock Whitney by 19.1% during the 3rd quarter. Blue Trust Inc. now owns 2,971 shares of the company's stock worth $142,000 after purchasing an additional 476 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Hancock Whitney in the 3rd quarter valued at about $28,000. SG Americas Securities LLC lifted its holdings in Hancock Whitney by 5.5% in the 2nd quarter. SG Americas Securities LLC now owns 10,865 shares of the company's stock valued at $520,000 after purchasing an additional 568 shares in the last quarter. Finally, Trust Point Inc. boosted its stake in shares of Hancock Whitney by 10.6% during the 3rd quarter. Trust Point Inc. now owns 6,005 shares of the company's stock worth $307,000 after purchasing an additional 577 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock traded up $0.41 on Monday, reaching $59.79. 165,114 shares of the company were exchanged, compared to its average volume of 506,312. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 13.31 and a beta of 1.25. Hancock Whitney Co. has a 1-year low of $41.19 and a 1-year high of $62.40. The company's 50-day moving average is $54.31 and its two-hundred day moving average is $50.94.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.02. The firm had revenue of $525.37 million during the quarter, compared to analyst estimates of $363.54 million. Hancock Whitney had a net margin of 19.30% and a return on equity of 11.47%. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, research analysts expect that Hancock Whitney Co. will post 5.19 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.68%. Hancock Whitney's dividend payout ratio is currently 35.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Truist Financial lowered their price objective on Hancock Whitney from $57.00 to $56.00 and set a "hold" rating for the company in a research report on Friday, September 20th. DA Davidson upped their price objective on shares of Hancock Whitney from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.89.

Insider Transactions at Hancock Whitney

In other news, CEO John M. Hairston sold 18,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $59.44, for a total value of $1,069,920.00. Following the completion of the sale, the chief executive officer now directly owns 254,026 shares of the company's stock, valued at $15,099,305.44. This represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine L. Pickering sold 763 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $52.40, for a total transaction of $39,981.20. Following the completion of the sale, the director now owns 23,518 shares of the company's stock, valued at approximately $1,232,343.20. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,994 shares of company stock valued at $1,593,710 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

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.