Fintel reports that on September 19, 2023, Truist Securities reiterated coverage of Hancock Whitney (NASDAQ:HWC) with a Buy recommendation.
Analyst Price Forecast Suggests 22.94% Upside
As of August 31, 2023, the average one-year price target for Hancock Whitney is 47.71. The forecasts range from a low of 43.43 to a high of $56.70. The average price target represents an increase of 22.94% from its latest reported closing price of 38.81.
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The projected annual revenue for Hancock Whitney is 1,578MM, an increase of 9.77%. The projected annual non-GAAP EPS is 6.22.
Hancock Whitney Declares $0.30 Dividend
On July 27, 2023, the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of September 5, 2023, received the payment on September 15, 2023. Previously, the company paid $0.30 per share.
At the current share price of $38.81 / share, the stock’s dividend yield is 3.09%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.96%, the lowest has been 1.92%, and the highest has been 7.01%. The standard deviation of yields is 1.05 (n=236).
The current dividend yield is 0.13 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.20. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 665 funds or institutions reporting positions in Hancock Whitney. This is a decrease of 50 owner(s) or 6.99% in the last quarter. Average portfolio weight of all funds dedicated to HWC is 0.24%, an increase of 2.03%. Total shares owned by institutions increased in the last three months by 1.38% to 91,834K shares. The put/call ratio of HWC is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Macquarie Group holds 3,394K shares representing 3.94% ownership of the company. In its prior filing, the firm reported owning 4,228K shares, representing a decrease of 24.59%. The firm decreased its portfolio allocation in HWC by 12.49% over the last quarter.
Fuller & Thaler Asset Management holds 3,189K shares representing 3.70% ownership of the company. In its prior filing, the firm reported owning 1,922K shares, representing an increase of 39.74%. The firm increased its portfolio allocation in HWC by 72.38% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 2,611K shares representing 3.03% ownership of the company. In its prior filing, the firm reported owning 2,644K shares, representing a decrease of 1.25%. The firm decreased its portfolio allocation in HWC by 0.24% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,525K shares representing 2.93% ownership of the company. In its prior filing, the firm reported owning 2,503K shares, representing an increase of 0.91%. The firm decreased its portfolio allocation in HWC by 1.83% over the last quarter.
DEVLX – Delaware Small Cap Value Fund holds 2,515K shares representing 2.92% ownership of the company. In its prior filing, the firm reported owning 2,823K shares, representing a decrease of 12.25%. The firm decreased its portfolio allocation in HWC by 17.60% over the last quarter.
Hancock Whitney Background Information
(This description is provided by the company.)
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks.
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