Bank of America Lowers Hancock Whitney (NYSE:HWC) to Neutral

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Bank of America lowered shares of Hancock Whitney (NYSE:HWC) from a buy rating to a neutral rating in a report published on Thursday morning, BenzingaRatingsTable reports.

Several other research firms also recently weighed in on HWC. Zacks Investment Research upgraded GreenTree Hospitality Group from a sell rating to a hold rating in a research note on Monday, April 15th. Stephens initiated coverage on LiqTech International in a research note on Tuesday, July 9th. They set an overweight rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $50.40.

Shares of NYSE:HWC opened at $39.51 on Thursday. The company’s 50-day simple moving average is $39.47. Hancock Whitney has a 1 year low of $32.59 and a 1 year high of $53.00.

Hancock Whitney (NYSE:HWC) last announced its earnings results on Tuesday, April 16th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The business had revenue of $293.58 million for the quarter, compared to analyst estimates of $294.63 million. The firm’s quarterly revenue was up 6.4% on a year-over-year basis.

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.08 annualized dividend and a yield of 2.73%.

In other news, Director Joan Cahill Teofilo sold 1,150 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $39.34, for a total value of $45,241.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Several institutional investors and hedge funds have recently modified their holdings of HWC. LPL Financial LLC purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $342,000. New York State Common Retirement Fund purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $3,416,000. Bank of New York Mellon Corp purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $57,218,000. Raymond James & Associates purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $1,348,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Hancock Whitney in the fourth quarter worth about $1,822,000.

About Hancock Whitney

Hancock Whitney Corp. is a bank holding company, which engages in the provision of financial services. It also offers trust and investment management services to retirement plans, corporations, and individuals; and brokerage services, annuity products, and life insurance, general insurance agency services, including life and title insurance, consumer financing service.

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Analyst Recommendations for Hancock Whitney (NYSE:HWC)

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