Raymond James Financial Inc. Invests $9.52 Million in Hancock Whitney Co. (NASDAQ:HWC)

Raymond James Financial Inc. bought a new position in shares of Hancock Whitney Co. (NASDAQ:HWC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 173,920 shares of the company's stock, valued at approximately $9,517,000. Raymond James Financial Inc. owned 0.20% of Hancock Whitney as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Hancock Whitney in the 3rd quarter valued at about $28,000. Grove Bank & Trust acquired a new stake in Hancock Whitney in the fourth quarter valued at approximately $31,000. R Squared Ltd purchased a new position in Hancock Whitney in the fourth quarter worth approximately $49,000. Parkside Financial Bank & Trust grew its holdings in Hancock Whitney by 9.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,911 shares of the company's stock worth $105,000 after acquiring an additional 169 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Hancock Whitney by 11.4% in the 4th quarter. US Bancorp DE now owns 2,581 shares of the company's stock valued at $141,000 after purchasing an additional 265 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HWC. StockNews.com raised shares of Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods lifted their price target on Hancock Whitney from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Raymond James reiterated a "strong-buy" rating and issued a $72.00 price objective (up previously from $64.00) on shares of Hancock Whitney in a report on Wednesday, January 22nd. Finally, Stephens restated an "overweight" rating and set a $74.00 target price (up previously from $68.00) on shares of Hancock Whitney in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.56.

Remove Ads

Hancock Whitney Stock Performance

HWC traded down $0.43 during trading on Tuesday, hitting $53.83. 822,017 shares of the stock were exchanged, compared to its average volume of 516,015. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Hancock Whitney Co. has a 1-year low of $41.56 and a 1-year high of $62.40. The stock has a fifty day moving average price of $56.84 and a two-hundred day moving average price of $55.30. The firm has a market capitalization of $4.64 billion, a P/E ratio of 10.20 and a beta of 1.24.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its earnings results on Tuesday, January 21st. The company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.12. Hancock Whitney had a net margin of 22.40% and a return on equity of 11.56%. During the same period in the previous year, the business posted $1.26 EPS. As a group, sell-side analysts predict that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.45 per share. This is an increase from Hancock Whitney's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.80 annualized dividend and a dividend yield of 3.34%. Hancock Whitney's dividend payout ratio is 34.09%.

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.