Channing Capital Management LLC Has $27.83 Million Stake in Hancock Whitney Co. (NASDAQ:HWC)

Channing Capital Management LLC lessened its position in Hancock Whitney Co. (NASDAQ:HWC) by 59.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,734 shares of the company’s stock after selling 834,777 shares during the period. Channing Capital Management LLC owned 0.66% of Hancock Whitney worth $27,829,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HWC. Fuller & Thaler Asset Management Inc. grew its stake in shares of Hancock Whitney by 3.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,298,200 shares of the company’s stock worth $122,000,000 after purchasing an additional 109,016 shares during the last quarter. Wellington Management Group LLP increased its holdings in Hancock Whitney by 7.0% in the third quarter. Wellington Management Group LLP now owns 2,184,960 shares of the company’s stock worth $80,822,000 after purchasing an additional 142,465 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Hancock Whitney by 7.6% in 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 buying an additional 148,542 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hancock Whitney by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,039,436 shares of the company’s stock worth $38,449,000 after buying an additional 14,625 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Hancock Whitney by 13.1% during the 3rd quarter. American Century Companies Inc. now owns 832,405 shares of the company’s stock worth $30,791,000 after buying an additional 96,522 shares during the period. 81.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HWC has been the subject of several recent research reports. DA Davidson boosted their price objective on Hancock Whitney from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. StockNews.com cut Hancock Whitney from a “hold” rating to a “sell” rating in a research note on Sunday, March 31st. Piper Sandler reiterated an “overweight” rating and issued a $52.00 target price (down previously from $55.00) on shares of Hancock Whitney in a research note on Wednesday, April 17th. Citigroup raised shares of Hancock Whitney from a “neutral” rating to a “buy” rating and raised their price target for the company from $48.00 to $50.00 in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group decreased their price objective on shares of Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.71.

Hancock Whitney Price Performance

Shares of HWC traded up $0.39 during midday trading on Friday, reaching $47.57. The stock had a trading volume of 285,455 shares, compared to its average volume of 522,518. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 11.09 and a beta of 1.31. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.06. Hancock Whitney Co. has a 12-month low of $31.02 and a 12-month high of $49.65. The company’s 50-day moving average is $44.14 and its 200 day moving average is $43.37.

Hancock Whitney Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, June 5th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.36%. This is an increase from Hancock Whitney’s previous quarterly dividend of $0.30. Hancock Whitney’s payout ratio is currently 27.97%.

Insider Buying and Selling at Hancock Whitney

In other news, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction that occurred 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 in the company, valued at approximately $2,755,029.26. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Christine L. Pickering sold 1,300 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,094,058.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney 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 sale, 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 90 days, insiders sold 5,780 shares of company stock worth $256,988. 1.10% of the stock is currently owned by insiders.

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.