Hancock Whitney Co. (NASDAQ:HWC) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in Hancock Whitney Co. (NASDAQ:HWC - Free Report) by 42.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,870 shares of the company's stock after selling 30,821 shares during the quarter. Wedge Capital Management L L P NC's holdings in Hancock Whitney were worth $2,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in shares of Hancock Whitney by 554.6% in the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after acquiring an additional 599 shares in the last quarter. UMB Bank n.a. boosted its stake in Hancock Whitney by 1,132.1% in the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock worth $52,000 after purchasing an additional 917 shares in the last quarter. GeoWealth Management LLC purchased a new stake in Hancock Whitney during the 4th quarter valued at about $65,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Hancock Whitney during the 4th quarter valued at about $92,000. Finally, Parkside Financial Bank & Trust raised its holdings in Hancock Whitney by 9.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company's stock worth $105,000 after buying an additional 169 shares during the last quarter. Institutional investors own 81.22% of the company's stock.

Wall Street Analysts Forecast Growth

HWC has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Piper Sandler reissued an "overweight" rating and issued a $70.00 target price (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. DA Davidson reduced their price target on shares of Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen upgraded Hancock Whitney from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Stephens dropped their target price on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.25.

Insider Activity

In other Hancock Whitney news, Director Christine L. Pickering sold 838 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $48.09, for a total value of $40,299.42. Following the completion of the sale, the director now owns 23,019 shares of the company's stock, valued at approximately $1,106,983.71. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.91% of the company's stock.

Hancock Whitney Stock Up 1.1%

Shares of NASDAQ HWC traded up $0.62 during midday trading on Tuesday, reaching $55.58. 360,911 shares of the company's stock traded hands, compared to its average volume of 597,157. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 10.53 and a beta of 1.05. The stock's 50 day simple moving average is $52.41 and its 200-day simple moving average is $55.09. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Hancock Whitney Co. has a one year low of $43.60 and a one year high of $62.40.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. The business had revenue of $367.50 million for the quarter, compared to the consensus estimate of $368.12 million. Hancock Whitney had a return on equity of 11.56% and a net margin of 22.40%. On average, analysts predict that Hancock Whitney Co. will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, June 5th. Hancock Whitney's payout ratio is 33.21%.

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.