Stephens Cuts Hancock Whitney (NASDAQ:HWC) Price Target to $85.00

Hancock Whitney (NASDAQ:HWC) had its price target lowered by equities researchers at Stephens from $86.00 to $85.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price target suggests a potential upside of 11.01% from the company’s current price.

HWC has been the subject of several other research reports. Zacks Research raised Hancock Whitney from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Barclays boosted their target price on shares of Hancock Whitney from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Hancock Whitney from $72.00 to $78.00 and gave the stock a “market perform” rating in a research report on Thursday, July 9th. Finally, Benchmark began coverage on Hancock Whitney in a research note on Wednesday, June 24th. They issued a “buy” rating and a $84.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Hancock Whitney presently has a consensus rating of “Buy” and an average price target of $81.56.

Hancock Whitney Stock Performance

NASDAQ:HWC opened at $76.57 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81. Hancock Whitney has a fifty-two week low of $54.05 and a fifty-two week high of $79.36. The company has a 50 day simple moving average of $71.38 and a two-hundred day simple moving average of $68.57. The company has a market capitalization of $6.21 billion, a PE ratio of 15.77 and a beta of 0.95.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $403.57 million for the quarter, compared to analyst estimates of $398.89 million. Hancock Whitney had a net margin of 21.34% and a return on equity of 11.20%. During the same period in the prior year, the firm posted $1.37 EPS. Research analysts anticipate that Hancock Whitney will post 6.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Christine L. Pickering sold 417 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $67.16, for a total transaction of $28,005.72. Following the transaction, the director directly owned 25,066 shares in the company, valued at approximately $1,683,432.56. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

A number of hedge funds have recently made changes to their positions in HWC. Channing Capital Management LLC purchased a new position in Hancock Whitney in the fourth quarter valued at approximately $80,246,000. Norges Bank purchased a new stake in shares of Hancock Whitney during the fourth quarter worth $57,463,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hancock Whitney by 18,614.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 535,039 shares of the company’s stock worth $34,071,000 after acquiring an additional 532,180 shares during the period. UBS Group AG raised its stake in shares of Hancock Whitney by 134.3% during the 3rd quarter. UBS Group AG now owns 909,460 shares of the company’s stock valued at $56,941,000 after purchasing an additional 521,261 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in Hancock Whitney during the 1st quarter worth about $23,071,000. 81.22% of the stock is currently owned by institutional investors.

Key Stories Impacting Hancock Whitney

Here are the key news stories impacting Hancock Whitney this week:

• Positive Sentiment: Hancock Whitney delivered Q2 earnings of $1.55 per share, matching Wall Street estimates, while revenue of $403.57 million topped consensus, signaling stable core performance. Hancock Whitney quarterly results
• Positive Sentiment: The bank posted better year-over-year results, with EPS rising from $1.37 a year ago to $1.55, which supports the view that profitability is improving. Hancock Whitney matches Q2 earnings estimates
• Positive Sentiment: Hancock Whitney also received regulatory approval for its OFB acquisition, reducing a key uncertainty around the deal and potentially supporting future growth. Regulatory approval for OFB acquisition
• Neutral Sentiment: Analyst coverage remains favorable, with Hancock Whitney carrying an average “Buy” rating, but this is more of a background support factor than a new catalyst. Analyst rating update
• Neutral Sentiment: The earnings call transcript and presentation may help investors assess management’s outlook, but no major new negative surprise is evident from the headline results. Earnings call transcript

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.