Zacks Research Upgrades Hancock Whitney (NASDAQ:HWC) to “Strong-Buy”

Hancock Whitney (NASDAQ:HWC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on HWC. DA Davidson lifted their price objective on Hancock Whitney from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Barclays assumed coverage on Hancock Whitney in a research report on Wednesday, December 17th. They set an “overweight” rating and a $76.00 price target on the stock. Piper Sandler increased their price objective on Hancock Whitney from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their target price on shares of Hancock Whitney from $70.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Finally, Citigroup upped their target price on shares of Hancock Whitney from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.25.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $71.94 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $65.91 and its 200 day simple moving average is $62.26. The stock has a market cap of $6.01 billion, a P/E ratio of 12.67 and a beta of 1.05. Hancock Whitney has a twelve month low of $43.90 and a twelve month high of $71.98.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, January 20th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The firm had revenue of $81.55 million during the quarter, compared to analysts’ expectations of $391.63 million. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. During the same period last year, the company posted $1.40 EPS. As a group, research analysts predict that Hancock Whitney will post 5.53 EPS for the current year.

Insiders Place Their Bets

In other Hancock Whitney news, insider Christopher S. Ziluca sold 5,227 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $68.57, for a total transaction of $358,415.39. Following the completion of the sale, the insider directly owned 33,301 shares in the company, valued at approximately $2,283,449.57. This trade represents a 13.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Hancock Whitney by 929.5% in the second quarter. True Wealth Design LLC now owns 453 shares of the company’s stock worth $26,000 after purchasing an additional 409 shares during the last quarter. Torren Management LLC bought a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $32,000. IFP Advisors Inc raised its holdings in shares of Hancock Whitney by 67.6% during the third quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after purchasing an additional 253 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Hancock Whitney during the third quarter valued at approximately $45,000. Finally, Hantz Financial Services Inc. lifted its position in Hancock Whitney by 6,107.7% during the second quarter. Hantz Financial Services Inc. now owns 807 shares of the company’s stock valued at $46,000 after purchasing an additional 794 shares during the period. Institutional investors own 81.22% of the company’s stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company’s core business activities include commercial banking, retail banking and wealth management services.