Hancock Whitney Co. (NASDAQ:HWC) Declares $0.40 Quarterly Dividend

Hancock Whitney Co. (NASDAQ:HWC - Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.40 per share on Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, December 5th.

Hancock Whitney has raised its dividend by an average of 3.6% per year over the last three years. Hancock Whitney has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Hancock Whitney to earn $5.17 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 30.9%.

Hancock Whitney Stock Down 0.4 %

Shares of NASDAQ HWC traded down $0.19 during mid-day trading on Friday, reaching $51.59. 878,487 shares of the company's stock traded hands, compared to its average volume of 488,243. The stock has a market cap of $4.45 billion, a P/E ratio of 11.57 and a beta of 1.26. The business has a 50-day simple moving average of $51.23 and a 200 day simple moving average of $48.87. Hancock Whitney has a 1-year low of $32.69 and a 1-year high of $57.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. Hancock Whitney had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $525.37 million for the quarter, compared to analysts' expectations of $363.54 million. During the same period in the previous year, the company earned $1.12 earnings per share. On average, analysts expect that Hancock Whitney will post 5.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Hancock Whitney from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price target on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, July 17th. Truist Financial lowered their price target on shares of Hancock Whitney from $57.00 to $56.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Jefferies Financial Group reduced their price objective on shares of Hancock Whitney from $48.00 to $47.00 and set a "hold" rating for the company in a research note on Wednesday, July 3rd. Finally, Hovde Group boosted their price objective on shares of Hancock Whitney from $55.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.89.

Insiders Place Their Bets

In other Hancock Whitney news, Director Carleton Richard Wilkins sold 800 shares of the business's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $50.95, for a total value of $40,760.00. Following the completion of the transaction, the director now owns 15,900 shares of the company's stock, valued at $810,105. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frank E. Bertucci sold 2,053 shares of the company's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the completion of the sale, the director now owns 22,554 shares of the company's stock, valued at approximately $1,286,254.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carleton Richard Wilkins sold 800 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $50.95, for a total transaction of $40,760.00. Following the completion of the sale, the director now directly owns 15,900 shares of the company's stock, valued at $810,105. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,284 shares of company stock valued at $600,892 in the last quarter. 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.