Hsbc Holdings PLC Lowers Position in Hancock Whitney Corporation $HWC

Hsbc Holdings PLC reduced its holdings in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) by 58.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,415 shares of the company's stock after selling 10,250 shares during the quarter. Hsbc Holdings PLC's holdings in Hancock Whitney were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. increased its holdings in Hancock Whitney by 12.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,089,454 shares of the company's stock worth $109,592,000 after purchasing an additional 235,363 shares in the last quarter. Wellington Management Group LLP increased its holdings in Hancock Whitney by 50.4% in the first quarter. Wellington Management Group LLP now owns 3,057,103 shares of the company's stock worth $160,345,000 after purchasing an additional 1,024,869 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Hancock Whitney in the first quarter valued at approximately $31,000. Raymond James Financial Inc. grew its stake in Hancock Whitney by 4.5% in the first quarter. Raymond James Financial Inc. now owns 181,738 shares of the company's stock valued at $9,532,000 after acquiring an additional 7,818 shares during the period. Finally, American Century Companies Inc. grew its stake in Hancock Whitney by 0.4% in the first quarter. American Century Companies Inc. now owns 1,465,661 shares of the company's stock valued at $76,874,000 after acquiring an additional 6,315 shares during the period. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Price Performance

Shares of HWC traded down $0.81 during midday trading on Friday, reaching $62.72. The stock had a trading volume of 853,421 shares, compared to its average volume of 588,601. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 11.55 and a beta of 1.13. Hancock Whitney Corporation has a 12-month low of $43.90 and a 12-month high of $64.25. The company's 50-day moving average is $60.64 and its 200 day moving average is $55.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.01. The company had revenue of $377.98 million during the quarter, compared to analysts' expectations 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 EPS. On average, equities analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Hancock Whitney's dividend payout ratio (DPR) is 33.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James Financial reissued a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, July 16th. Hovde Group lifted their target price on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Citigroup lifted their price target on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Piper Sandler lifted their price target on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods lowered 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 report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.63.

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.