Algert Global LLC Decreases Stock Position in Hancock Whitney Co. (NASDAQ:HWC)

Algert Global LLC lessened its position in Hancock Whitney Co. (NASDAQ:HWC) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,440 shares of the company’s stock after selling 23,580 shares during the quarter. Algert Global LLC owned about 0.13% of Hancock Whitney worth $5,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in shares of Hancock Whitney in the second quarter valued at approximately $31,000. Mather Group LLC. purchased a new position in shares of Hancock Whitney in the second quarter valued at approximately $37,000. Headlands Technologies LLC purchased a new position in shares of Hancock Whitney in the second quarter valued at approximately $43,000. CWM LLC lifted its position in Hancock Whitney by 268.9% during the second quarter. CWM LLC now owns 985 shares of the company’s stock worth $47,000 after buying an additional 718 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Hancock Whitney during the second quarter worth approximately $63,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Insider Activity

In other news, Director Christine L. Pickering sold 763 shares of Hancock Whitney stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $52.40, for a total value of $39,981.20. Following the completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John M. Hairston sold 18,000 shares of Hancock Whitney stock in a transaction 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. The trade was a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,994 shares of company stock valued at $1,593,710. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial reduced their price objective 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. DA Davidson lifted their price objective on Hancock Whitney from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Hancock Whitney currently has an average rating of “Moderate Buy” and a consensus price target of $56.89.

Hancock Whitney Price Performance

HWC stock opened at $59.97 on Friday. The business has a fifty day moving average of $53.39 and a two-hundred day moving average of $50.50. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.06. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 13.45 and a beta of 1.25. Hancock Whitney Co. has a 52-week low of $39.38 and a 52-week high of $61.41.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. The company had revenue of $525.37 million during the quarter, compared to analysts’ expectations of $363.54 million. Hancock Whitney had a return on equity of 11.47% and a net margin of 19.30%. During the same quarter last year, the firm earned $1.12 earnings per share. As a group, research analysts anticipate that Hancock Whitney Co. will post 5.19 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.40 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. Hancock Whitney’s payout ratio is presently 35.87%.

About Hancock Whitney

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.