Allspring Global Investments Holdings LLC Trims Stock Holdings in Hancock Whitney Co. (NASDAQ:HWC)

Allspring Global Investments Holdings LLC cut its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,886,332 shares of the company’s stock after selling 67,356 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 2.18% of Hancock Whitney worth $96,524,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Triad Wealth Partners LLC acquired a new position in Hancock Whitney in the second quarter worth about $31,000. Mather Group LLC. acquired a new position in shares of Hancock Whitney in the 2nd quarter worth approximately $37,000. Headlands Technologies LLC acquired a new position in shares of Hancock Whitney in the 2nd quarter worth approximately $43,000. CWM LLC increased its holdings in shares of Hancock Whitney by 268.9% in the 2nd quarter. CWM LLC now owns 985 shares of the company’s stock valued at $47,000 after acquiring an additional 718 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Hancock Whitney during the 2nd quarter valued at approximately $63,000. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Stock Performance

Shares of NASDAQ HWC opened at $52.18 on Monday. Hancock Whitney Co. has a 12-month low of $32.16 and a 12-month high of $57.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.52 billion, a PE ratio of 12.16 and a beta of 1.26. The stock has a 50 day simple moving average of $50.95 and a 200-day simple moving average of $48.67.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $525.37 million during the quarter, compared to analyst estimates of $363.54 million. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. During the same quarter in the previous year, the firm posted $1.12 EPS. On average, equities research analysts forecast that Hancock Whitney Co. will post 5.14 EPS for the current year.

Hancock Whitney Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.07%. Hancock Whitney’s dividend payout ratio is presently 37.30%.

Insider Buying and Selling

In other news, Director Frank E. Bertucci sold 2,053 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total value of $117,082.59. Following the completion of the sale, the director now owns 22,554 shares in the company, valued at $1,286,254.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HWC has been the subject of a number of research reports. DA Davidson lifted their price objective on shares of Hancock Whitney from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hovde Group lifted their price target on shares of Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group decreased their target price on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Finally, Truist Financial dropped their price target on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hancock Whitney currently has an average rating of “Moderate Buy” and an average target price of $56.89.

About Hancock Whitney

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.