Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Hancock Whitney Co. (NASDAQ:HWC)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hancock Whitney Co. (NASDAQ:HWC) by 22.6% during the 4th quarter, Holdings Channel reports. The firm owned 23,317 shares of the company’s stock after purchasing an additional 4,299 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hancock Whitney were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC boosted its holdings in Hancock Whitney by 67.4% during the fourth quarter. AlphaQuest LLC now owns 55,422 shares of the company’s stock worth $3,033,000 after purchasing an additional 22,316 shares during the last quarter. Callan Family Office LLC purchased a new position in Hancock Whitney in the fourth quarter valued at about $205,000. Raymond James Financial Inc. purchased a new position in Hancock Whitney in the fourth quarter valued at about $9,517,000. Proficio Capital Partners LLC purchased a new position in Hancock Whitney in the fourth quarter valued at about $1,096,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Hancock Whitney by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,228,710 shares of the company’s stock valued at $67,235,000 after acquiring an additional 73,875 shares during the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Stock Performance

NASDAQ HWC opened at $51.58 on Wednesday. The company’s 50 day moving average is $57.05 and its 200-day moving average is $55.29. Hancock Whitney Co. has a 12-month low of $41.56 and a 12-month high of $62.40. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.44 billion, a P/E ratio of 9.77 and a beta of 1.24.

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 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 quarter last year, the firm posted $1.26 EPS. Sell-side analysts predict that Hancock Whitney Co. will post 5.53 earnings per share for the current year.

Hancock Whitney Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.40. Hancock Whitney’s dividend payout ratio is 34.09%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HWC shares. Raymond James reiterated a “strong-buy” rating and issued a $72.00 target price (up from $64.00) on shares of Hancock Whitney in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Hancock Whitney from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens reiterated an “overweight” rating and issued a $74.00 target price (up 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.56.

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.