Allspring Global Investments Holdings LLC Has $102.40 Million Holdings in Hancock Whitney Corporation $HWC

Allspring Global Investments Holdings LLC cut its holdings in shares of Hancock Whitney Corporation (NASDAQ:HWC) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,597,199 shares of the company’s stock after selling 115,378 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hancock Whitney were worth $102,396,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Hancock Whitney by 2.9% in the 4th quarter. State Street Corp now owns 4,521,593 shares of the company’s stock valued at $287,935,000 after purchasing an additional 126,367 shares in the last quarter. Channing Capital Management LLC acquired a new position in Hancock Whitney in the fourth quarter valued at about $80,246,000. Goldman Sachs Group Inc. grew its stake in Hancock Whitney by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 920,152 shares of the company’s stock worth $58,595,000 after buying an additional 162,482 shares during the last quarter. UBS Group AG increased its holdings in shares of Hancock Whitney by 134.3% during the third quarter. UBS Group AG now owns 909,460 shares of the company’s stock worth $56,941,000 after buying an additional 521,261 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Hancock Whitney in the 4th quarter worth approximately $57,463,000. 81.22% of the stock is owned by institutional investors.

Insider Transactions at Hancock Whitney

In other news, Director Christine L. Pickering sold 417 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $67.16, for a total transaction of $28,005.72. Following the completion of the sale, the director owned 25,066 shares in the company, valued at $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on HWC. Citigroup boosted their target price on Hancock Whitney from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. DA Davidson boosted their price objective on Hancock Whitney from $79.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Hovde Group downgraded shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 target price on the stock. in a report on Friday, June 12th. Keefe, Bruyette & Woods upped their price target on shares of Hancock Whitney from $72.00 to $78.00 and gave the company a “market perform” rating in a report on Thursday, July 9th. Finally, Barclays raised their price objective on shares of Hancock Whitney from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $80.50.

Hancock Whitney Stock Down 0.9%

HWC stock opened at $78.46 on Friday. Hancock Whitney Corporation has a 1-year low of $54.05 and a 1-year high of $79.36. The business’s 50 day simple moving average is $70.97 and its 200 day simple moving average is $68.36. 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 firm has a market capitalization of $6.37 billion, a PE ratio of 16.11 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. The firm had revenue of $393.64 million during the quarter, compared to analysts’ expectations of $400.01 million. During the same period in the previous year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. As a group, research analysts anticipate that Hancock Whitney Corporation will post 6.47 EPS for the current year.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, June 5th. Hancock Whitney’s dividend payout ratio is currently 41.07%.

About Hancock Whitney

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.