Summit Global Investments Purchases Shares of 28,232 Hancock Whitney Co. (NASDAQ:HWC)

Summit Global Investments purchased a new position in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,232 shares of the company's stock, valued at approximately $1,445,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hibernia Wealth Partners LLC acquired a new stake in Hancock Whitney in the 3rd quarter valued at approximately $669,000. State of Alaska Department of Revenue increased its position in Hancock Whitney by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,985 shares of the company's stock valued at $510,000 after acquiring an additional 680 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Hancock Whitney in the 3rd quarter valued at approximately $251,000. DMC Group LLC increased its position in Hancock Whitney by 53.9% in the 3rd quarter. DMC Group LLC now owns 8,505 shares of the company's stock valued at $435,000 after acquiring an additional 2,980 shares during the period. Finally, Raymond James & Associates increased its position in Hancock Whitney by 4.9% in the 3rd quarter. Raymond James & Associates now owns 152,938 shares of the company's stock valued at $7,826,000 after acquiring an additional 7,126 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Michael M. Achary sold 8,431 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $52.55, for a total transaction of $443,049.05. Following the completion of the sale, the chief financial officer now directly owns 54,380 shares in the company, valued at approximately $2,857,669. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Hancock Whitney news, Director Carleton Richard Wilkins sold 800 shares of Hancock Whitney 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 sale, the director now directly owns 15,900 shares in the company, valued at $810,105. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Achary sold 8,431 shares of Hancock Whitney stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $52.55, for a total transaction of $443,049.05. Following the completion of the transaction, the chief financial officer now directly owns 54,380 shares in the company, valued at approximately $2,857,669. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,994 shares of company stock worth $1,593,710. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Hancock Whitney from $57.00 to $56.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. Piper Sandler lifted their price target on Hancock Whitney from $52.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. DA Davidson lifted their price target on Hancock Whitney from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Hovde Group lifted their price target on Hancock Whitney from $55.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Hancock Whitney from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.89.

Hancock Whitney Trading Up 0.2 %

Shares of HWC traded up $0.13 during midday trading on Friday, hitting $58.63. The stock had a trading volume of 530,659 shares, compared to its average volume of 564,583. Hancock Whitney Co. has a fifty-two week low of $36.70 and a fifty-two week high of $61.01. The business has a 50-day simple moving average of $51.77 and a two-hundred day simple moving average of $49.64. The firm has a market cap of $5.06 billion, a P/E ratio of 13.15 and a beta of 1.25. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The company reported $1.33 EPS 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 company had revenue of $525.37 million during the quarter, compared to analysts' expectations of $363.54 million. During the same period last year, the company posted $1.12 earnings per share. As a group, equities analysts forecast that Hancock Whitney Co. will post 5.19 EPS for the current year.

Hancock Whitney Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, December 5th. Hancock Whitney's dividend payout ratio is currently 35.87%.

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.