Channing Capital Management LLC Sells 834,777 Shares of Hancock Whitney Co. (NASDAQ:HWC)

Channing Capital Management LLC lessened its position in shares of Hancock Whitney Co. (NASDAQ:HWC) by 59.3% in the 4th 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 quarter. Channing Capital Management LLC’s holdings in Hancock Whitney were worth $27,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Hancock Whitney by 13.1% during the third quarter. American Century Companies Inc. now owns 832,405 shares of the company’s stock worth $30,791,000 after acquiring an additional 96,522 shares during the last quarter. Deutsche Bank AG grew its position in Hancock Whitney by 4.2% during the 3rd quarter. Deutsche Bank AG now owns 122,077 shares of the company’s stock worth $4,516,000 after purchasing an additional 4,886 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 valued at $38,449,000 after purchasing an additional 14,625 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Hancock Whitney in the fourth quarter worth $1,045,000. Finally, AlphaMark Advisors LLC lifted its stake in shares of Hancock Whitney by 13.1% during the fourth quarter. AlphaMark Advisors LLC now owns 6,836 shares of the company’s stock worth $332,000 after buying an additional 792 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Performance

NASDAQ:HWC traded up $0.39 during trading hours on Friday, reaching $47.57. The company had a trading volume of 285,455 shares, compared to its average volume of 522,518. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. Hancock Whitney Co. has a 1-year low of $31.02 and a 1-year high of $49.65. The business’s 50 day moving average price is $44.14 and its 200-day moving average price is $43.37. The firm has a market cap of $4.11 billion, a PE ratio of 11.09 and a beta of 1.31.

Hancock Whitney Increases Dividend

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

Insider Activity at Hancock Whitney

In other Hancock Whitney news, insider Christopher S. Ziluca sold 3,636 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $43.50, for a total transaction of $158,166.00. Following the transaction, the insider now owns 35,285 shares in the company, valued at $1,534,897.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher S. Ziluca sold 3,636 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $43.50, for a total value of $158,166.00. Following the completion of the sale, the insider now owns 35,285 shares of the company’s stock, valued at approximately $1,534,897.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christine L. Pickering sold 1,300 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $45.62, for a total transaction of $59,306.00. Following the transaction, the director now directly owns 23,982 shares in the company, valued at $1,094,058.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,780 shares of company stock worth $256,988. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HWC shares. StockNews.com downgraded Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Sunday, March 31st. Jefferies Financial Group cut their price objective on Hancock Whitney from $51.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Stephens reaffirmed an “equal weight” rating and set a $50.00 target price on shares of Hancock Whitney in a report on Wednesday, April 17th. 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 report on Wednesday, April 17th. Finally, DA Davidson raised their price target on shares of Hancock Whitney from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.71.

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.