Hancock Whitney Corp Sells 355 Shares of Lamar Advertising (NASDAQ:LAMR)

Hancock Whitney Corp decreased its position in Lamar Advertising (NASDAQ:LAMR) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,262 shares of the real estate investment trust’s stock after selling 355 shares during the quarter. Hancock Whitney Corp’s holdings in Lamar Advertising were worth $3,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Lamar Advertising in the first quarter worth approximately $25,000. Whittier Trust Co. boosted its stake in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Lamar Advertising during the 1st quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter worth $30,000. Finally, Quarry LP increased its stake in shares of Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 133 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Up 1.5 %

NASDAQ LAMR opened at $133.54 on Friday. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $134.09. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market cap of $13.65 billion, a PE ratio of 27.42 and a beta of 1.52. The stock’s 50 day moving average is $121.49 and its 200 day moving average is $118.44.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. Lamar Advertising’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.90 EPS. Research analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, September 18th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio is 114.99%.

Analyst Ratings Changes

Several research firms have issued reports on LAMR. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a report on Thursday, July 11th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research note on Thursday. They set an “equal weight” rating and a $132.00 target price on the stock. TD Cowen upped their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $125.00.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.