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

Allspring Global Investments Holdings LLC reduced its holdings in Hancock Whitney Corporation (NASDAQ:HWC) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,712,577 shares of the company’s stock after selling 64,001 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.05% of Hancock Whitney worth $110,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Hancock Whitney by 12.7% during the 4th quarter. GAMMA Investing LLC now owns 1,617 shares of the company’s stock worth $103,000 after purchasing an additional 182 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Hancock Whitney by 6.5% in the third quarter. Blue Trust Inc. now owns 3,181 shares of the company’s stock valued at $199,000 after purchasing an additional 195 shares during the last quarter. Arizona State Retirement System lifted its position in Hancock Whitney by 0.9% during the third quarter. Arizona State Retirement System now owns 25,334 shares of the company’s stock worth $1,586,000 after buying an additional 238 shares in the last quarter. IFP Advisors Inc lifted its position in Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock worth $39,000 after buying an additional 253 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Hancock Whitney by 11.3% during the third quarter. US Bancorp DE now owns 3,052 shares of the company’s stock worth $191,000 after buying an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Up 1.9%

Shares of NASDAQ:HWC opened at $63.59 on Wednesday. The company has a market capitalization of $5.19 billion, a price-to-earnings 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. The business has a 50-day moving average price of $66.99 and a 200 day moving average price of $63.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04.

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

Hancock Whitney Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Thursday, March 5th were issued a $0.50 dividend. This is a boost from Hancock Whitney’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, March 5th. This represents a $2.00 annualized dividend and a yield of 3.1%. Hancock Whitney’s payout ratio is 35.21%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HWC. Citigroup raised their target price on Hancock Whitney from $78.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Hancock Whitney in a research report on Friday. Piper Sandler upped their price objective on shares of Hancock Whitney from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. DA Davidson raised their price objective on shares of Hancock Whitney from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, Raymond James Financial lifted their target price on shares of Hancock Whitney from $72.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $75.63.

Insider Transactions at Hancock Whitney

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 33,301 shares in the company, valued at $2,283,449.57. This represents 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 at the SEC website. 0.92% of the stock is currently owned by insiders.

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.