Meeder Asset Management Inc. Purchases New Stake in Hancock Whitney Corporation (NASDAQ:HWC)

Key Points

• Meeder Asset Management Inc. purchased 81,150 shares of Hancock Whitney Corporation, valued at approximately $4.26 million, during the first quarter.
• Hancock Whitney recently declared a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80 and a yield of 2.97%.
• Brokerages have set new price targets for Hancock Whitney, with Piper Sandler increasing its target from $70.00 to $72.00 while maintaining an "overweight" rating.

Meeder Asset Management Inc. purchased a new stake in Hancock Whitney Corporation (NASDAQ:HWC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 81,150 shares of the company's stock, valued at approximately $4,256,000. Meeder Asset Management Inc. owned about 0.09% of Hancock Whitney at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after purchasing an additional 599 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Hancock Whitney by 1,132.1% during the first quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after buying an additional 917 shares during the period. GeoWealth Management LLC purchased a new stake in Hancock Whitney in the 4th quarter worth approximately $65,000. GAMMA Investing LLC lifted its stake in shares of Hancock Whitney by 115.3% during the 1st quarter. GAMMA Investing LLC now owns 1,240 shares of the company's stock worth $65,000 after purchasing an additional 664 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Hancock Whitney during the fourth quarter worth $92,000. Institutional investors and hedge funds own 81.22% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on HWC shares. Keefe, Bruyette & Woods lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and raised their price target for the stock from $62.00 to $63.00 in a research note on Friday, July 11th. Hovde Group lifted their price target on shares of Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Piper Sandler raised their target price on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating on shares of Hancock Whitney in a report on Wednesday, July 16th. Finally, Stephens decreased their target price on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Hancock Whitney has an average rating of "Moderate Buy" and an average target price of $66.71.

Hancock Whitney Stock Performance

Shares of HWC stock traded down $1.90 on Friday, hitting $57.82. 392,258 shares of the stock traded hands, compared to its average volume of 726,728. The company has a market capitalization of $4.95 billion, a PE ratio of 10.65 and a beta of 1.05. The company's fifty day moving average is $57.44 and its 200 day moving average is $55.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.79 and a quick ratio of 0.79. Hancock Whitney Corporation has a 1-year low of $43.90 and a 1-year high of $62.90.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. The business had revenue of $377.98 million during the quarter, compared to the consensus estimate of $375.99 million. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, equities research analysts predict that Hancock Whitney Corporation will post 5.53 earnings per share for the current fiscal year.

Hancock Whitney Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 5th. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. Hancock Whitney's dividend payout ratio is currently 33.15%.

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.