Allspring Global Investments Holdings LLC Sells 67,356 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Allspring Global Investments Holdings LLC cut its holdings in Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,886,332 shares of the company's stock after selling 67,356 shares during the period. Allspring Global Investments Holdings LLC owned about 2.18% of Hancock Whitney worth $96,524,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Hancock Whitney during the 2nd quarter worth $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 Hancock Whitney in the second quarter valued at approximately $43,000. CWM LLC grew its position in shares of Hancock Whitney by 268.9% during the second quarter. CWM LLC now owns 985 shares of the company's stock worth $47,000 after acquiring an additional 718 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Hancock Whitney during the 2nd quarter worth $63,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Trading Down 2.3 %

HWC stock traded down $1.22 during trading on Monday, hitting $50.96. The company had a trading volume of 532,580 shares, compared to its average volume of 503,628. The firm has a 50-day moving average price of $51.02 and a 200-day moving average price of $48.72. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 11.88 and a beta of 1.26. Hancock Whitney Co. has a 12 month low of $32.16 and a 12 month high of $57.78.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.02. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm had revenue of $525.37 million for the quarter, compared to analysts' expectations of $363.54 million. During the same period last year, the firm earned $1.12 earnings per share. As a group, analysts predict that Hancock Whitney Co. will post 5.14 earnings per share for the current year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, September 5th. Hancock Whitney's payout ratio is presently 37.30%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HWC shares. DA Davidson upped their price target on shares of Hancock Whitney from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Truist Financial cut their price objective on Hancock Whitney from $57.00 to $56.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Piper Sandler upped their price target on Hancock Whitney from $52.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Hovde Group boosted their price objective on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an "outperform" rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price target on Hancock Whitney from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.89.

Insider Activity

In other news, Director Frank E. Bertucci sold 2,053 shares of Hancock Whitney stock in a transaction that occurred on Monday, July 29th. The shares were 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. This trade represents a 0.00 % 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. 1.10% of the stock is owned by company insiders.

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.