Hancock Whitney Corp
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Financials : Banks | Small Cap ValueCompany profile

Hancock Whitney Corporation, formerly Hancock Holding Company, is a financial services company that provides a network of service financial choices to the Gulf South region, through its bank subsidiary, Hancock Whitney Bank (the Bank), a Mississippi state bank. The Company operates through overall banking operations segment. The Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida, and Whitney Bank in Louisiana and Texas. The Bank operates across the Gulf South region, which consists of southern Mississippi; southern and central Alabama; southern Louisiana; the northern, central, and panhandle regions of Florida; Houston, Texas, and Nashville, Tennessee. The Bank offers a range of traditional and online community banking services to commercial, small business and retail customers, providing a range of transaction and savings deposit products, treasury management services and investment brokerage services, among others.

Closing Price
$34.39
Day's Change
-1.49 (-4.15%)
Bid
--
Ask
--
B/A Size
--
Day's High
36.16
Day's Low
34.23
Volume
(Above Average)
Volume:
348,305

10-day average volume:
304,841
348,305

UPDATE: Dividend stocks, hot this year, may get even hotter thanks to the Federal Reserve

2:20 pm ET June 25, 2019 (MarketWatch)
Print

UPDATE: Dividend stocks, hot this year, may get even hotter thanks to the Federal Reserve

By Philip van Doorn, MarketWatch

Lower interest rates mean rising prices for higher-yielding stocks

Dividend stocks, which have performed well this year, may get another boost if the Federal Reserve cuts interest rates.

With lower rates, income-seeking investors could use dividend stocks more than ever, and growth investors may also be interested because declining low interest rates prop up prices of higher-yielding stocks.

The S&P 500 Index has risen 15.3% this year, driven in part by the change in Federal Reserve policy in March (http://www.marketwatch.com/story/fed-seeing-slower-growth-and-softer-inflation-now-projects-no-rate-hikes-this-year-2019-03-20) -- there was high confidence the policy-setting Federal Open Market Committee would begin to lower interest rates as early as Wednesday. This didn't happen (http://www.marketwatch.com/story/fed-holds-interest-rates-steady-will-now-closely-monitor-data-in-shift-away-from-patient-stance-2019-06-19), however, the FOMC made changes to the language of its policy statement (http://www.marketwatch.com/story/fed-holds-interest-rates-steady-will-now-closely-monitor-data-in-shift-away-from-patient-stance-2019-06-19) that appeared to increase the likelihood of a lower of the target for the federal funds rate later this year.

Investors have already anticipated rate cuts by pushing yields on U.S. Treasury paper lower across the board, and we now have an inverse yield curve, with yields on three- and six-month Treasury bills higher than the yield on 10-year notes .

Here's the complete text of the FOMC statement (http://www.marketwatch.com/story/fed-statement-after-june-fomc-meeting-2019-06-19).

More coverage of the Fed:

-- Here's how often the Powell-led Fed disappointed stock-market bulls on decision day (http://www.marketwatch.com/story/heres-how-often-the-powell-led-fed-has-disappointed-stock-market-investors-on-decision-day-2019-06-19)

-- History suggests Fed can't make 'insurance cuts' to keep expansion alive (http://www.marketwatch.com/story/history-suggests-fed-cant-make-insurance-cuts-to-keep-expansion-alive-2019-06-17)

The inverse yield curve has traditionally been considered an indicator of a coming recession. Then again, Mark Grant, the chief global strategist for fixed income at B. Riley, said in his "Out of the Box" email on June 12 that he believed the rate inversion reflects "merely that the Fed, to date, has not bought Treasury bills and so the 800-pound gorilla has not yet entered that room. I expect them in shortly, however."

European Central Bank President Mario Draghi added fuel to the fire Tuesday (http://www.marketwatch.com/story/euro-drops-global-equities-rise-as-ecbs-draghi-hits-of-more-stimulus-2019-06-18), saying eurozone economic indicators were "tilted to the downside" and that "additional stimulus will be required" if the numbers don't improve.

Anticipation of renewed stimulus by the Fed has led to good performance among three of the four stock sectors of the S&P 500 with weighted aggregate dividend yields above 2.5%. Here are the 11 sectors sorted by dividend yield, showing their weighed aggregate price changes this year and last year:

S&P 500 sector Current dividend yield Price change - 2019 through June 17 Price change - 2018

Energy 3.79% 6.5% -20.5%

Utilities 3.27% 13.5% 0.5%

Real Estate 3.17% 22.1% -5.6%

Consumer Staples 2.87% 15.3% -11.2%

Financials 2.14% 12.7% -14.7%

Materials 2.11% 12.9% -16.4%

Industrials 1.98% 16.4% -15.0%

Health Care 1.80% 5.6% 4.7%

Information Technology 1.52% 22.5% -1.6%

Communications Services 1.41% 17.4% -16.4%

Consumer Discretionary 1.34% 19.9% -0.5%

S&P 500 Index 1.99% 15.3% -6.2%

Leaving aside the energy sector, which is tied to the vagaries of oil and natural gas prices, the utilities, real-estate and consumer-staples sectors have performed well this year, especially when considering that most of the companies in those sectors aren't considered dynamic, rapidly growing innovators.

It is remarkable to see a 22% increase for the real-estate sector in 2019, excluding dividends, even after it outperformed, slightly, the full S&P 500 in 2018.

Dividend-stock lists

The best way to invest in dividend stocks may be to focus on increases of payouts, hich we discussed in detail here (http://www.marketwatch.com/story/these-20-stocks-may-give-you-the-best-shot-to-cash-in-on-fast-rising-dividends-2019-03-25), rather than higher yields. Below are lists of higher-yielding stocks, subject to certain criteria.

If you are considering common stocks with high current dividend yields, it is very important that you have confidence in a company's ability to maintain and increase its dividend. You should also do your own homework and look at the history of dividend payments. Has the dividend been cut over recent years? When? Why? That and your own careful consideration of the company's ability to compete over the next 10 years are critical things to consider.

One way to estimate a company's ability to maintain or raise its dividend is to compare its free cash flow yield to its dividend yield. Free cash flow is remaining cash flow after planned capital expenditures. This is money that can be used to raise dividend payments, repurchase shares, make acquisitions, expand organically or for other corporate purposes. If the free cash flow yield is lower than the dividend yield, it isn't a very good sign. If it is not a temporary phenomenon, the company may have to lower the dividend.

For real-estate investment trusts, funds from operations (FFO), a non-GAAP figure, is used in the industry to gauge dividend-paying ability. FFO adds depreciation and amortization back to earnings, while subtracting gains on the sale of real estate. So REITs are listed separately below.

Non-REIT dividend stocks

Looking at free cash flow for the past four reported quarters, there are 53 non-REIT S&P 500 stocks with dividend yields of 3.5% or higher that have "headroom" to cover higher dividend payouts.

Here are the 10 with the highest dividend yields that also haven't cut their regular dividend payments over the past five years (20 quarters), according to data provided by FactSet:

Company Ticker Industry Dividend yield Free cash flow yield - past four quarters "Headroom"

Macy's Inc. US:M Department Stores 6.95% 9.55% 2.60%

Newell Brands Inc US:NWL Industrial Conglomerates 6.33% 8.64% 2.31%

AT&T Inc. US:T Telecommunications 6.32% 10.71% 4.39%

Altria Group Inc US:MO Tobacco 6.29% 8.00% 1.71%

Occidental Petroleum Corp. US:OXY Oil & Gas Production 6.26% 6.44% 0.17%

Invesco Ltd. US:IVZ Investment Managers 6.15% 14.42% 8.26%

Ford Motor Co. US:F Motor Vehicles 5.97% 18.45% 12.48%

Nielsen Holdings PLC US:NLSN Advertising/Marketing Services 5.97% 12.22% 6.26%

Philip Morris International Inc. US:PM Tobacco 5.85% 6.55% 0.70%

Source: FactSet

You can click on the tickers for more about each company, including stock performance charts and news coverage.

Many of these companies are weathering storms, including Macy's (M), which is competing with Amazon.com (AMZN) and other online retailers, and AT&T (T), which is going through a brutal period of declines in subscribers for its pay-TV services, to name two examples. So it is not surprising to see that only two of these companies are favored by a majority of sell-side analysts:

Company Ticker Share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - June 17 Consensus price target Implied 12-month upside potential

Macy's Inc. US:M 18% 59% 23% $21.72 $23.64 9%

Newell Brands Inc US:NWL 17% 83% 0% $14.54 $19.20 32%

AT&T Inc. US:T 50% 43% 7% $32.30 $33.75 4%

Altria Group Inc US:MO 47% 35% 18% $50.86 $58.73 15%

Occidental Petroleum Corp. US:OXY 20% 80% 0% $49.81 $64.79 30%

(MORE TO FOLLOW) Dow Jones Newswires

June 25, 2019 14:20 ET (18:20 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

UPDATE: Dividend stocks, hot this year, may -2-

Invesco Ltd. US:IVZ 18% 76% 6% $20.15 $22.64 12%

Ford Motor Co. US:F 37% 58% 5% $10.05 $10.88 8%

Nielsen Holdings PLC US:NLSN 69% 31% 0% $23.46 $28.53 22%

Philip Morris International Inc. US:PM 65% 30% 5% $77.99 $93.39 20%

Seagate Technology PLC US:STX 31% 54% 15% $44.36 $50.24 13%

Source: FactSet

Here are the 10 stocks of this group of 53 with the highest percentages of "buy" or equivalent ratings by analysts polled by FactSet, once again screened to exclude any companies that have cut regular dividends over the past five years:

Company Ticker Industry Share 'buy' ratings Dividend yield Free cash flow yield - past four quarters "Headroom"

Marathon Petroleum Corp. US:MPC Oil Refining/Marketing 94% 4.35% 11.76% 7.40%

Citizens Financial Group Inc. US:CFG Regional Banks 86% 3.72% 6.13% 2.41%

Valero Energy Corp. US:VLO Oil Refining/Marketing 85% 4.68% 8.80% 4.12%

Tapestry Inc. US:TPR Apparel/Footwear Retail 79% 4.55% 8.66% 4.11%

Chevron Corp. US:CVX Integrated Oil 73% 3.92% 7.34% 3.42%

Prudential Financial Inc. US:PRU Financial Conglomerates 70% 4.08% 54.89% 50.80%

Nielsen Holdings PLC US:NLSN Advertising/Marketing Services 69% 5.97% 12.22% 6.26%

Phillips 66 US:PSX Oil Refining/Marketing 68% 4.19% 7.28% 3.09%

Leggett & Platt Inc. US:LEG Home Furnishings 67% 4.25% 5.45% 1.19%

CVS Health Corp. US:CVS Drugstore Chains 67% 3.67% 8.71% 5.05%

Source: FactSet

REITs

There are 31 real-estate investment trusts in the S&P 500. Here are the eight with the dividend yields of at least 3.5% that have "headroom" based on funds from operations (FFO) over the past 12 reported months and also haven't cut dividends for the past five years:

REIT Ticker Dividend yield FFO yield - past four quarters "Headroom"

Macerich Co. US:MAC 8.54% 10.56% 2.02%

Kimco Realty Corp. US:KIM 5.89% 7.68% 1.79%

Simon Property Group Inc. US:SPG 4.86% 7.39% 2.52%

Host Hotels & Resorts Inc. US:HST 4.31% 9.82% 5.50%

Welltower Inc. US:WELL 4.16% 4.87% 0.71%

SL Green Realty Corp. US:SLG 3.84% 7.50% 3.66%

Realty Income Corp. US:O 3.71% 4.28% 0.58%

Digital Realty Trust Inc. US:DLR 3.53% 5.47% 1.94%

Source: FactSet

Here's a summary of analysts' opinions of these eight REITs:

REIT Ticker Share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - June 17 Consensus price target Implied 12-month upside potential

Macerich Co. US:MAC 22% 67% 11% $35.14 $44.71 27%

Kimco Realty Corp. US:KIM 27% 59% 14% $19.01 $18.03 -5%

Simon Property Group Inc. US:SPG 71% 29% 0% $166.54 $191.95 15%

Host Hotels & Resorts Inc. US:HST 38% 38% 24% $18.54 $20.95 13%

Welltower Inc. US:WELL 38% 62% 0% $83.61 $80.82 -3%

SL Green Realty Corp. US:SLG 47% 42% 11% $88.52 $98.22 11%

Realty Income Corp. US:O 26% 63% 11% $73.28 $72.07 -2%

Digital Realty Trust Inc. US:DLR 58% 42% 0% $122.49 $125.86 3%

Source: FactSet

Don't miss: This fund manager goes his own way in China by looking beyond the trade spat (http://www.marketwatch.com/story/this-fund-manager-goes-his-own-way-in-china-by-looking-beyond-the-trade-spat-2019-06-18)

Create an email alert for Philip van Doorn's Deep Dive columns here (http://www.marketwatch.com/tools/alerts/newsColumn.asp).

-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 25, 2019 14:20 ET (18:20 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

MW UPDATE: Dividend stocks, hot this year, may -2-

Invesco Ltd. US:IVZ 18% 76% 6% $20.15 $22.64 12%

Ford Motor Co. US:F 37% 58% 5% $10.05 $10.88 8%

Nielsen Holdings PLC US:NLSN 69% 31% 0% $23.46 $28.53 22%

Philip Morris International Inc. US:PM 65% 30% 5% $77.99 $93.39 20%

Seagate Technology PLC US:STX 31% 54% 15% $44.36 $50.24 13%

Source: FactSet

Here are the 10 stocks of this group of 53 with the highest percentages of "buy" or equivalent ratings by analysts polled by FactSet, once again screened to exclude any companies that have cut regular dividends over the past five years:

Company Ticker Industry Share 'buy' ratings Dividend yield Free cash flow yield - past four quarters "Headroom"

Marathon Petroleum Corp. US:MPC Oil Refining/Marketing 94% 4.35% 11.76% 7.40%

Citizens Financial Group Inc. US:CFG Regional Banks 86% 3.72% 6.13% 2.41%

Valero Energy Corp. US:VLO Oil Refining/Marketing 85% 4.68% 8.80% 4.12%

Tapestry Inc. US:TPR Apparel/Footwear Retail 79% 4.55% 8.66% 4.11%

Chevron Corp. US:CVX Integrated Oil 73% 3.92% 7.34% 3.42%

Prudential Financial Inc. US:PRU Financial Conglomerates 70% 4.08% 54.89% 50.80%

Nielsen Holdings PLC US:NLSN Advertising/Marketing Services 69% 5.97% 12.22% 6.26%

Phillips 66 US:PSX Oil Refining/Marketing 68% 4.19% 7.28% 3.09%

Leggett & Platt Inc. US:LEG Home Furnishings 67% 4.25% 5.45% 1.19%

CVS Health Corp. US:CVS Drugstore Chains 67% 3.67% 8.71% 5.05%

Source: FactSet

REITs

There are 31 real-estate investment trusts in the S&P 500. Here are the eight with the dividend yields of at least 3.5% that have "headroom" based on funds from operations (FFO) over the past 12 reported months and also haven't cut dividends for the past five years:

REIT Ticker Dividend yield FFO yield - past four quarters "Headroom"

Macerich Co. US:MAC 8.54% 10.56% 2.02%

Kimco Realty Corp. US:KIM 5.89% 7.68% 1.79%

Simon Property Group Inc. US:SPG 4.86% 7.39% 2.52%

Host Hotels & Resorts Inc. US:HST 4.31% 9.82% 5.50%

Welltower Inc. US:WELL 4.16% 4.87% 0.71%

SL Green Realty Corp. US:SLG 3.84% 7.50% 3.66%

Realty Income Corp. US:O 3.71% 4.28% 0.58%

Digital Realty Trust Inc. US:DLR 3.53% 5.47% 1.94%

Source: FactSet

Here's a summary of analysts' opinions of these eight REITs:

REIT Ticker Share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - June 17 Consensus price target Implied 12-month upside potential

Macerich Co. US:MAC 22% 67% 11% $35.14 $44.71 27%

Kimco Realty Corp. US:KIM 27% 59% 14% $19.01 $18.03 -5%

Simon Property Group Inc. US:SPG 71% 29% 0% $166.54 $191.95 15%

Host Hotels & Resorts Inc. US:HST 38% 38% 24% $18.54 $20.95 13%

Welltower Inc. US:WELL 38% 62% 0% $83.61 $80.82 -3%

SL Green Realty Corp. US:SLG 47% 42% 11% $88.52 $98.22 11%

Realty Income Corp. US:O 26% 63% 11% $73.28 $72.07 -2%

Digital Realty Trust Inc. US:DLR 58% 42% 0% $122.49 $125.86 3%

Source: FactSet

Don't miss: This fund manager goes his own way in China by looking beyond the trade spat (http://www.marketwatch.com/story/this-fund-manager-goes-his-own-way-in-china-by-looking-beyond-the-trade-spat-2019-06-18)

Create an email alert for Philip van Doorn's Deep Dive columns here (http://www.marketwatch.com/tools/alerts/newsColumn.asp).

-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 25, 2019 14:20 ET (18:20 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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