State of New Jersey Common Pension Fund D Sells 3,945 Shares of Hancock Whitney Co. (NASDAQ:HWC)

State of New Jersey Common Pension Fund D lessened its stake in Hancock Whitney Co. (NASDAQ:HWC) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,699 shares of the company’s stock after selling 3,945 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Hancock Whitney were worth $2,008,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of Hancock Whitney by 19.1% during the 3rd quarter. Blue Trust Inc. now owns 2,971 shares of the company’s stock valued at $142,000 after purchasing an additional 476 shares in the last quarter. Raymond James & Associates boosted its stake in Hancock Whitney by 4.9% during the third quarter. Raymond James & Associates now owns 152,938 shares of the company’s stock worth $7,826,000 after acquiring an additional 7,126 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Hancock Whitney during the third quarter worth $251,000. State of Alaska Department of Revenue boosted its position in shares of Hancock Whitney by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,985 shares of the company’s stock worth $510,000 after purchasing an additional 680 shares in the last quarter. Finally, Hibernia Wealth Partners LLC bought a new position in shares of Hancock Whitney during the 3rd quarter worth about $669,000. 81.22% of the stock is currently owned by institutional investors.

Hancock Whitney Stock Down 2.2 %

HWC stock opened at $56.82 on Monday. The stock has a fifty day moving average of $57.64 and a 200-day moving average of $54.95. Hancock Whitney Co. has a fifty-two week low of $41.56 and a fifty-two week high of $62.40. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 10.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, January 21st. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business earned $1.26 earnings per share. As a group, equities research analysts predict that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be given a $0.45 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from Hancock Whitney’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 3.17%. Hancock Whitney’s payout ratio is 30.30%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HWC shares. Stephens reiterated an “overweight” rating and issued a $74.00 price target (up previously from $68.00) on shares of Hancock Whitney in a report on Wednesday, January 22nd. StockNews.com lowered shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Raymond James reissued a “strong-buy” rating and set a $72.00 target price (up previously from $64.00) on shares of Hancock Whitney in a research report on Wednesday, January 22nd. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.56.

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.