Allspring Global Investments Holdings LLC Has $115.64 Million Stock Holdings in Hancock Whitney Corporation $HWC

Allspring Global Investments Holdings LLC trimmed its holdings in Hancock Whitney Corporation (NASDAQ:HWC) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,949,810 shares of the company’s stock after selling 77,554 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hancock Whitney were worth $115,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in HWC. Brooklyn Investment Group acquired a new position in shares of Hancock Whitney in the 1st quarter valued at about $31,000. Virtus Advisers LLC acquired a new position in Hancock Whitney during the 1st quarter worth approximately $41,000. Amundi acquired a new position in Hancock Whitney during the 1st quarter worth approximately $50,000. GAMMA Investing LLC raised its stake in Hancock Whitney by 115.3% during the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company’s stock worth $65,000 after buying an additional 664 shares during the period. Finally, Blue Trust Inc. raised its stake in Hancock Whitney by 15.4% during the 1st quarter. Blue Trust Inc. now owns 2,560 shares of the company’s stock worth $134,000 after buying an additional 341 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HWC. Piper Sandler upped their price target on Hancock Whitney from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Hovde Group upped their price target on Hancock Whitney from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Hancock Whitney in a research note on Monday, September 8th. Citigroup upped their price target on Hancock Whitney from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, DA Davidson upped their price target on Hancock Whitney from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $70.00.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $60.49 on Tuesday. The company has a market cap of $5.13 billion, a PE ratio of 11.14 and a beta of 1.11. Hancock Whitney Corporation has a 52 week low of $43.90 and a 52 week high of $64.66. The business has a 50 day moving average price of $61.96 and a 200-day moving average price of $57.40. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. The firm had revenue of $377.98 million during the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.During the same period in the prior year, the business posted $1.31 earnings per share. Equities analysts anticipate that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Hancock Whitney’s dividend payout ratio is currently 33.15%.

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.