Nuveen LLC Makes New $38.16 Million Investment in Hancock Whitney Corporation (NASDAQ:HWC)

Nuveen LLC acquired a new position in Hancock Whitney Corporation (NASDAQ:HWC) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 727,607 shares of the company’s stock, valued at approximately $38,163,000.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Hancock Whitney by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 199,532 shares of the company’s stock worth $10,465,000 after buying an additional 1,882 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Hancock Whitney by 5.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,016 shares of the company’s stock worth $525,000 after buying an additional 484 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Hancock Whitney in the 4th quarter worth approximately $624,000. SG Americas Securities LLC acquired a new position in shares of Hancock Whitney in the 1st quarter worth approximately $281,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Hancock Whitney by 6.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company’s stock worth $105,139,000 after buying an additional 128,860 shares in the last quarter. Institutional investors own 81.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HWC. Hovde Group increased their target price on Hancock Whitney from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods cut Hancock Whitney from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $62.00 to $63.00 in a report on Friday, July 11th. Raymond James Financial reissued a “strong-buy” rating on shares of Hancock Whitney in a report on Wednesday, July 16th. DA Davidson lifted their price objective on Hancock Whitney from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.71.

Hancock Whitney Trading Down 2.2%

Shares of HWC opened at $59.86 on Friday. The stock has a fifty day moving average price of $58.44 and a two-hundred day moving average price of $55.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. Hancock Whitney Corporation has a 52-week low of $43.90 and a 52-week high of $62.90. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 11.02 and a beta of 1.11.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm had revenue of $377.98 million during the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%. During the same quarter in the previous year, the company posted $1.31 EPS. Analysts predict that Hancock Whitney Corporation will post 5.53 EPS for the current fiscal year.

Hancock Whitney Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.0%. Hancock Whitney’s payout ratio is presently 33.15%.

Hancock Whitney 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.