Summit Financial Wealth Advisors LLC Sells 54,416 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Summit Financial Wealth Advisors LLC lowered its position in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 37.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,554 shares of the company's stock after selling 54,416 shares during the quarter. Hancock Whitney accounts for approximately 0.9% of Summit Financial Wealth Advisors LLC's investment portfolio, making the stock its 27th largest position. Summit Financial Wealth Advisors LLC owned approximately 0.10% of Hancock Whitney worth $4,582,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Hancock Whitney during the 3rd quarter valued at $28,000. Triad Wealth Partners LLC acquired a new position in shares of Hancock Whitney in the 2nd quarter valued at $31,000. Mather Group LLC. purchased a new position in Hancock Whitney in the 2nd quarter worth about $37,000. Headlands Technologies LLC acquired a new stake in Hancock Whitney during the 2nd quarter worth about $43,000. Finally, CWM LLC lifted its stake in Hancock Whitney by 268.9% during the second quarter. CWM LLC now owns 985 shares of the company's stock valued at $47,000 after buying an additional 718 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hancock Whitney news, CEO John M. Hairston sold 18,000 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $59.44, for a total value of $1,069,920.00. Following the completion of the transaction, the chief executive officer now directly owns 254,026 shares of the company's stock, valued at approximately $15,099,305.44. The trade was a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Achary sold 8,431 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $52.55, for a total transaction of $443,049.05. Following the sale, the chief financial officer now owns 54,380 shares in the company, valued at $2,857,669. This trade represents a 13.42 % decrease in their ownership of the stock. 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 in the last 90 days. 1.10% of the stock is owned by company insiders.

Hancock Whitney Price Performance

NASDAQ:HWC traded down $0.24 on Tuesday, reaching $60.80. The stock had a trading volume of 185,490 shares, compared to its average volume of 508,556. The company has a market capitalization of $5.23 billion, a P/E ratio of 13.69 and a beta of 1.25. The stock has a fifty day moving average price of $53.61 and a 200-day moving average price of $50.61. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.06. Hancock Whitney Co. has a 1-year low of $39.38 and a 1-year high of $62.40.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.33 EPS for the quarter, beating 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 prior year, the firm earned $1.12 earnings per share. Research analysts forecast that Hancock Whitney Co. will post 5.19 EPS for the current year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 5th. Hancock Whitney's payout ratio is 35.87%.

Analysts Set New Price Targets

Several analysts recently commented on HWC shares. Truist Financial decreased their price target on shares of Hancock Whitney from $57.00 to $56.00 and set a "hold" rating for the company in a report on Friday, September 20th. DA Davidson lifted their target price 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $56.89.

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.