JPMorgan Chase & Co. Raises Stake in Hancock Whitney Co. (NASDAQ:HWC)

JPMorgan Chase & Co. raised its holdings in Hancock Whitney Co. (NASDAQ:HWC) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 551,636 shares of the company’s stock after purchasing an additional 96,092 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hancock Whitney were worth $28,227,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in HWC. Victory Capital Management Inc. raised its position in Hancock Whitney by 707.2% during the 2nd quarter. Victory Capital Management Inc. now owns 576,264 shares of the company’s stock worth $27,563,000 after buying an additional 504,873 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Hancock Whitney by 213.7% during the second quarter. AQR Capital Management LLC now owns 735,790 shares of the company’s stock worth $34,663,000 after acquiring an additional 501,259 shares during the period. Hancock Whitney Corp raised its holdings in Hancock Whitney by 30.9% during the second quarter. Hancock Whitney Corp now owns 1,069,223 shares of the company’s stock worth $51,141,000 after purchasing an additional 252,473 shares in the last quarter. American Century Companies Inc. lifted its position in Hancock Whitney by 20.4% in the second quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock valued at $67,015,000 after purchasing an additional 237,526 shares during the period. Finally, Barclays PLC boosted its holdings in Hancock Whitney by 149.2% in the 3rd quarter. Barclays PLC now owns 321,196 shares of the company’s stock valued at $16,435,000 after purchasing an additional 192,295 shares in the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

Hancock Whitney Price Performance

Hancock Whitney stock opened at $55.14 on Wednesday. The firm has a market capitalization of $4.75 billion, a PE ratio of 12.36 and a beta of 1.27. Hancock Whitney Co. has a 52 week low of $41.19 and a 52 week high of $62.40. The firm’s 50-day simple moving average is $57.00 and its 200 day simple moving average is $52.95. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. Hancock Whitney had a return on equity of 11.47% and a net margin of 19.30%. The firm had revenue of $525.37 million during the quarter, compared to the consensus estimate of $363.54 million. During the same period in the previous year, the firm posted $1.12 EPS. On average, equities research analysts predict that Hancock Whitney Co. will post 5.19 EPS for the current fiscal year.

Hancock Whitney Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a $0.40 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.90%. Hancock Whitney’s dividend payout ratio is currently 35.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James raised Hancock Whitney from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, December 19th. DA Davidson raised their target price on Hancock Whitney from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their target price on shares of Hancock Whitney from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and issued a $68.00 price target on shares of Hancock Whitney in a report on Thursday, January 2nd. Finally, Truist Financial decreased their price objective on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.63.

Insider Activity

In other news, Director Carleton Richard Wilkins sold 800 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $50.95, for a total transaction of $40,760.00. Following the sale, the director now owns 15,900 shares in the company, valued at $810,105. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christine L. Pickering sold 763 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $52.40, for a total value of $39,981.20. Following the completion of the transaction, the director now owns 23,518 shares of the company’s stock, valued at $1,232,343.20. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,994 shares of company stock worth $1,593,710 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

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.