Glenmede Trust Co. NA Lowers Holdings in Hancock Whitney Co. (NASDAQ:HWC)

Glenmede Trust Co. NA decreased its holdings in Hancock Whitney Co. (NASDAQ:HWC) by 1.4% in the third quarter, HoldingsChannel.com reports. The fund owned 350,959 shares of the company’s stock after selling 4,809 shares during the quarter. Glenmede Trust Co. NA’s holdings in Hancock Whitney were worth $17,959,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HWC. BNP Paribas Financial Markets increased its holdings in Hancock Whitney by 201.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,929 shares of the company’s stock valued at $2,657,000 after acquiring an additional 34,719 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Hancock Whitney during the third quarter valued at about $2,313,000. Advantage Alpha Capital Partners LP increased its holdings in shares of Hancock Whitney by 23.4% in the third quarter. Advantage Alpha Capital Partners LP now owns 9,452 shares of the company’s stock worth $484,000 after purchasing an additional 1,794 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Hancock Whitney in the third quarter worth about $28,000. Finally, Cerity Partners LLC lifted its position in shares of Hancock Whitney by 213.3% in the third quarter. Cerity Partners LLC now owns 17,963 shares of the company’s stock worth $919,000 after buying an additional 12,229 shares in the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Insider Buying and Selling

In related news, Director Carleton Richard Wilkins sold 800 shares of Hancock Whitney stock in a transaction dated 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 owns 15,900 shares in the company, valued at $810,105. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael M. Achary sold 8,431 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was 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 owns 54,380 shares in the company, valued at $2,857,669. This represents a 13.42 % 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HWC. 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 note on Wednesday, October 16th. Truist Financial reduced 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.89.

Hancock Whitney Stock Down 0.7 %

NASDAQ HWC opened at $59.94 on Friday. Hancock Whitney Co. has a 52 week low of $39.38 and a 52 week high of $62.40. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 13.44 and a beta of 1.25. 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 company has a fifty day moving average of $54.15 and a two-hundred day moving average of $50.83.

Hancock Whitney (NASDAQ:HWC) last issued 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 company had revenue of $525.37 million for the quarter, compared to the consensus estimate of $363.54 million. During the same period in the prior year, the firm posted $1.12 EPS. On average, analysts predict that Hancock Whitney Co. will post 5.19 earnings per share for the current year.

Hancock Whitney Announces Dividend

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