UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Hancock Whitney Co. (NASDAQ:HWC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hancock Whitney Co. (NASDAQ:HWC) by 6.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 246,483 shares of the company’s stock after purchasing an additional 15,703 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hancock Whitney were worth $12,613,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Hancock Whitney by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,980,204 shares of the company’s stock valued at $238,197,000 after purchasing an additional 167,304 shares during the period. American Century Companies Inc. raised its position in Hancock Whitney by 20.4% in the second quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock valued at $67,015,000 after purchasing an additional 237,526 shares during the period. Charles Schwab Investment Management Inc. raised its position in Hancock Whitney by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,154,835 shares of the company’s stock valued at $59,093,000 after purchasing an additional 46,622 shares during the period. Hancock Whitney Corp raised its position in Hancock Whitney by 30.9% in the second quarter. Hancock Whitney Corp now owns 1,069,223 shares of the company’s stock valued at $51,141,000 after purchasing an additional 252,473 shares during the period. Finally, Millennium Management LLC raised its position in Hancock Whitney by 20.9% in the second quarter. Millennium Management LLC now owns 780,882 shares of the company’s stock valued at $37,350,000 after purchasing an additional 135,076 shares during the period. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hancock Whitney

In related news, Director Carleton Richard Wilkins sold 800 shares of the stock in a transaction 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 transaction, the director now directly owns 15,900 shares of the company’s stock, valued at $810,105. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John M. Hairston sold 18,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $59.44, for a total transaction of $1,069,920.00. Following the completion of the transaction, the chief executive officer now directly owns 254,026 shares in the company, valued at $15,099,305.44. This trade represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,994 shares of company stock valued at $1,593,710. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HWC shares. Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial cut 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. Finally, DA Davidson upped 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Hancock Whitney presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Hancock Whitney Price Performance

Hancock Whitney stock opened at $58.97 on Friday. The stock has a market cap of $5.07 billion, a P/E ratio of 13.22 and a beta of 1.27. The company has a fifty day simple moving average of $55.14 and a 200-day simple moving average of $51.29. Hancock Whitney Co. has a 12-month low of $41.19 and a 12-month high of $62.40. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data 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 business had revenue of $525.37 million during the quarter, compared to analysts’ expectations of $363.54 million. Hancock Whitney had a net margin of 19.30% and a return on equity of 11.47%. During the same period in the previous year, the company earned $1.12 EPS. Equities analysts expect that Hancock Whitney Co. will post 5.19 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.71%. Hancock Whitney’s dividend payout ratio (DPR) is currently 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.