LSV Asset Management Sells 56,900 Shares of Hancock Whitney Co. (NASDAQ:HWC)

LSV Asset Management lessened its holdings in shares of Hancock Whitney Co. (NASDAQ:HWC) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 505,500 shares of the company’s stock after selling 56,900 shares during the quarter. LSV Asset Management owned about 0.59% of Hancock Whitney worth $24,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Commonwealth Equity Services LLC increased its stake in Hancock Whitney by 5.6% in the third quarter. Commonwealth Equity Services LLC now owns 48,198 shares of the company’s stock valued at $1,783,000 after acquiring an additional 2,565 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in Hancock Whitney by 10.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,853 shares of the company’s stock worth $438,000 after buying an additional 1,143 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hancock Whitney by 12.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,171 shares of the company’s stock worth $561,000 after buying an additional 1,672 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Hancock Whitney by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,102,052 shares of the company’s stock valued at $77,755,000 after acquiring an additional 148,542 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Hancock Whitney by 5.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,507 shares of the company’s stock worth $352,000 after acquiring an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on HWC. StockNews.com cut shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Sunday, March 31st. DA Davidson boosted their target price on Hancock Whitney from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Piper Sandler restated an “overweight” rating and set a $52.00 price target (down from $55.00) on shares of Hancock Whitney in a research report on Wednesday, April 17th. Jefferies Financial Group lowered their price objective on Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Finally, Truist Financial cut their target price on shares of Hancock Whitney from $50.00 to $46.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.71.

Hancock Whitney Price Performance

Shares of Hancock Whitney stock opened at $47.57 on Monday. The business has a 50 day moving average of $44.14 and a 200 day moving average of $43.37. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.11 billion, a PE ratio of 11.09 and a beta of 1.31. Hancock Whitney Co. has a 52 week low of $31.02 and a 52 week high of $49.65.

Hancock Whitney Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.40 per share. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.36%. Hancock Whitney’s dividend payout ratio (DPR) is currently 27.97%.

Insider Activity

In other Hancock Whitney news, insider Cecil W. Knight, Jr. sold 844 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $46.82, for a total value of $39,516.08. Following the sale, the insider now directly owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Christine L. Pickering sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $45.62, for a total value of $59,306.00. Following the completion of the transaction, the director now directly owns 23,982 shares in the company, valued at approximately $1,094,058.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cecil W. Knight, Jr. sold 844 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the transaction, the insider now directly owns 58,843 shares in the company, valued at $2,755,029.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,780 shares of company stock worth $256,988. Insiders own 1.10% 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.