Hancock Whitney Corporation (NASDAQ:HWC) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Hancock Whitney Corporation by 2.9%, now owning about 1.39% of the company, valued at $62.6 million.
• A variety of brokerages have recently updated their ratings on Hancock Whitney, with targets raising to $72.00 from analysts such as Hovde Group and Piper Sandler.
• Hancock Whitney announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 3.0%, payable on September 15th.

Charles Schwab Investment Management Inc. reduced its position in shares of Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,193,200 shares of the company's stock after selling 35,510 shares during the period. Charles Schwab Investment Management Inc. owned about 1.39% of Hancock Whitney worth $62,583,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Hancock Whitney by 1.0% in the first quarter. Principal Financial Group Inc. now owns 199,532 shares of the company's stock worth $10,465,000 after buying an additional 1,882 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hancock Whitney by 5.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,016 shares of the company's stock worth $525,000 after buying an additional 484 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Hancock Whitney in the fourth quarter worth $624,000. SG Americas Securities LLC bought a new stake in shares of Hancock Whitney in the first quarter worth $281,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Hancock Whitney by 6.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock worth $105,139,000 after buying an additional 128,860 shares during the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HWC. Hovde Group lifted their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods lowered shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. Piper Sandler boosted their target price on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, DA Davidson boosted their target price on shares of Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.71.

Hancock Whitney Stock Performance

NASDAQ HWC traded down $1.37 during trading hours on Friday, reaching $59.86. The company's stock had a trading volume of 556,356 shares, compared to its average volume of 692,699. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $58.44 and a 200 day simple moving average of $55.48. Hancock Whitney Corporation has a 52 week low of $43.90 and a 52 week high of $62.90. The stock has a market cap of $5.07 billion, a PE ratio of 11.02 and a beta of 1.11.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.01. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. The firm had revenue of $377.98 million for the quarter, compared to analysts' expectations of $375.99 million. During the same quarter last year, the company posted $1.31 earnings per share. Equities research analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.80 annualized dividend and a dividend yield of 3.0%. Hancock Whitney's payout ratio is 33.15%.

Hancock Whitney Company Profile

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.