Nuveen Asset Management LLC Reduces Stock Position in Hancock Whitney Co. (NASDAQ:HWC)

Nuveen Asset Management LLC decreased its stake in Hancock Whitney Co. (NASDAQ:HWC) by 5.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 731,500 shares of the company’s stock after selling 40,853 shares during the quarter. Nuveen Asset Management LLC’s holdings in Hancock Whitney were worth $40,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of HWC. Numerai GP LLC purchased a new position in shares of Hancock Whitney during the fourth quarter worth $3,273,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Hancock Whitney by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,409 shares of the company’s stock worth $2,704,000 after buying an additional 1,896 shares during the period. Interval Partners LP boosted its position in shares of Hancock Whitney by 5.0% during the fourth quarter. Interval Partners LP now owns 197,467 shares of the company’s stock worth $10,805,000 after buying an additional 9,366 shares during the period. Focus Partners Wealth raised its stake in shares of Hancock Whitney by 1.8% in the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company’s stock valued at $539,000 after acquiring an additional 173 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Hancock Whitney by 55.6% in the fourth quarter. Deutsche Bank AG now owns 243,656 shares of the company’s stock valued at $13,333,000 after acquiring an additional 87,093 shares in the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Wall Street Analysts Forecast Growth

HWC has been the topic of several research reports. StockNews.com raised Hancock Whitney from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. DA Davidson lowered their price target on Hancock Whitney from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Raymond James reissued a “strong-buy” rating and set a $62.00 price target (down previously from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating and set a $70.00 price target (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered their price target on Hancock Whitney from $68.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Hancock Whitney presently has a consensus rating of “Moderate Buy” and an average price target of $61.25.

Hancock Whitney Stock Performance

Shares of HWC stock opened at $56.44 on Wednesday. Hancock Whitney Co. has a 1-year low of $43.60 and a 1-year high of $62.40. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 10.69 and a beta of 1.05. The stock’s fifty day simple moving average is $51.83 and its 200-day simple moving average is $55.43.

Hancock Whitney (NASDAQ:HWC) last issued its 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. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. The company had revenue of $367.50 million during the quarter, compared to analyst estimates of $368.12 million. On average, sell-side analysts predict that Hancock Whitney Co. will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.19%. Hancock Whitney’s payout ratio is 33.21%.

Insider Activity at Hancock Whitney

In related news, Director Christine L. Pickering sold 838 shares of the 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 transaction, the director now directly owns 23,019 shares in the company, valued at approximately $1,106,983.71. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is currently owned by company insiders.

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.