Allspring Global Investments Holdings LLC Sells 38,535 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Hancock Whitney Co. (NASDAQ:HWC) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,953,688 shares of the company’s stock after selling 38,535 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hancock Whitney were worth $93,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bailard Inc. raised its stake in Hancock Whitney by 9.7% in the second quarter. Bailard Inc. now owns 14,700 shares of the company’s stock valued at $703,000 after purchasing an additional 1,300 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Hancock Whitney by 28.4% in the second quarter. Nisa Investment Advisors LLC now owns 22,639 shares of the company’s stock valued at $1,083,000 after purchasing an additional 5,009 shares in the last quarter. Blue Trust Inc. raised its stake in Hancock Whitney by 34.6% in the second quarter. Blue Trust Inc. now owns 2,495 shares of the company’s stock valued at $115,000 after purchasing an additional 641 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in Hancock Whitney in the second quarter valued at about $31,000. Finally, Hunter Perkins Capital Management LLC raised its stake in Hancock Whitney by 7.7% in the second quarter. Hunter Perkins Capital Management LLC now owns 14,435 shares of the company’s stock valued at $690,000 after purchasing an additional 1,035 shares in the last quarter. 81.22% of the stock is owned by institutional investors.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $52.19 on Tuesday. The stock has a market cap of $4.52 billion, a P/E ratio of 12.20 and a beta of 1.29. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average is $49.58 and its 200-day moving average is $46.51. Hancock Whitney Co. has a 1-year low of $32.16 and a 1-year high of $57.78.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.11. The company had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $359.11 million. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.35 earnings per share. Equities research analysts anticipate that Hancock Whitney Co. will post 5.1 earnings per share for the current year.

Hancock Whitney Announces Dividend

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

Insider Activity at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 22,554 shares in the company, valued at $1,286,254.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HWC. Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. StockNews.com raised Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. DA Davidson boosted their target price on Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Jefferies Financial Group lowered 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, Hovde Group boosted their target price on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.78.

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.