Wedge Capital Management L L P NC Lowers Holdings in Hancock Whitney Co. (NASDAQ:HWC)

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

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Hancock Whitney by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 10,097,563 shares of the company's stock valued at $552,539,000 after purchasing an additional 181,706 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Hancock Whitney by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,898,504 shares of the company's stock valued at $102,557,000 after purchasing an additional 12,172 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Hancock Whitney by 17.1% during the fourth quarter. AQR Capital Management LLC now owns 1,321,280 shares of the company's stock worth $72,300,000 after acquiring an additional 193,028 shares during the last quarter. Northern Trust Corp grew its position in shares of Hancock Whitney by 5.5% during the fourth quarter. Northern Trust Corp now owns 1,265,146 shares of the company's stock worth $69,229,000 after acquiring an additional 66,074 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Hancock Whitney by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,228,710 shares of the company's stock worth $67,235,000 after acquiring an additional 73,875 shares during the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Price Performance

Hancock Whitney stock traded down $1.42 during midday trading on Friday, reaching $53.78. The company's stock had a trading volume of 932,706 shares, compared to its average volume of 603,923. Hancock Whitney Co. has a fifty-two week low of $43.60 and a fifty-two week high of $62.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. The stock's 50 day simple moving average is $52.93 and its 200 day simple moving average is $55.05. The firm has a market capitalization of $4.61 billion, a PE ratio of 10.19 and a beta of 1.05.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.10. The business had revenue of $367.50 million during 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, equities research analysts forecast that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Thursday, June 5th. Hancock Whitney's dividend payout ratio (DPR) is presently 33.21%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HWC shares. Piper Sandler restated an "overweight" rating and set a $70.00 target price (up from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. DA Davidson lowered their target price 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. Keefe, Bruyette & Woods lowered their target price on shares of Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Raymond James restated a "strong-buy" rating and set a $62.00 target price (down from $72.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Finally, Wall Street Zen raised Hancock Whitney from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Hancock Whitney presently has an average rating of "Moderate Buy" and a consensus target price of $61.25.

Insider Transactions at Hancock Whitney

In related news, Director Christine L. Pickering sold 838 shares of Hancock Whitney stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $48.09, for a total transaction of $40,299.42. Following the completion of the sale, the director now owns 23,019 shares in the company, valued at approximately $1,106,983.71. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company's stock.

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.