Hancock Whitney Corporation $HWC Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 3.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,712,577 shares of the company’s stock after selling 64,001 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hancock Whitney were worth $110,393,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of Hancock Whitney by 67.6% in the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after purchasing an additional 253 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Hancock Whitney during the 3rd quarter worth approximately $45,000. CIBC Private Wealth Group LLC boosted its position in Hancock Whitney by 84,400.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 845 shares of the company’s stock valued at $53,000 after buying an additional 844 shares during the period. Amundi purchased a new position in Hancock Whitney in the 1st quarter valued at approximately $50,000. Finally, Danske Bank A S acquired a new position in shares of Hancock Whitney in the third quarter worth $63,000. Institutional investors and hedge funds own 81.22% of the company’s stock.

Hancock Whitney Price Performance

Hancock Whitney stock opened at $63.59 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $66.99 and a 200-day simple moving average of $63.79. The stock has a market cap of $5.19 billion, a P/E ratio of 11.20 and a beta of 1.05. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $75.43.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $81.55 million for the quarter, compared to analysts’ expectations of $391.63 million. Hancock Whitney had a return on equity of 11.16% and a net margin of 24.05%.During the same period last year, the firm earned $1.40 earnings per share. Equities analysts expect that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Thursday, March 5th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Thursday, March 5th. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.45. Hancock Whitney’s dividend payout ratio (DPR) is currently 35.21%.

Insider Buying and Selling at Hancock Whitney

In related news, insider Christopher S. Ziluca sold 5,227 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $68.57, for a total transaction of $358,415.39. Following the completion of the sale, the insider owned 33,301 shares in the company, valued at $2,283,449.57. The trade was a 13.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

HWC has been the topic of a number of recent research reports. Barclays assumed coverage on Hancock Whitney in a research report on Wednesday, December 17th. They set an “overweight” rating and a $76.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $70.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. Piper Sandler upped their price target on Hancock Whitney from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Wall Street Zen raised Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hancock Whitney in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $75.63.

Hancock Whitney Company Profile

Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company’s core business activities include commercial banking, retail banking and wealth management services.