Truist Financial Lowers Hancock Whitney (NASDAQ:HWC) Price Target to $56.00

Hancock Whitney (NASDAQ:HWC) had its price objective lowered by Truist Financial from $57.00 to $56.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 8.91% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Hovde Group boosted their price objective on Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. DA Davidson boosted their price target on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Jefferies Financial Group lowered their price objective on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Piper Sandler lifted their price objective on shares of Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

Hancock Whitney Trading Down 1.6 %

Shares of HWC traded down $0.84 during trading on Friday, reaching $51.42. 321,357 shares of the company traded hands, compared to its average volume of 497,871. The stock has a 50-day simple moving average of $51.46 and a 200-day simple moving average of $47.49. The stock has a market cap of $4.45 billion, a PE ratio of 11.99 and a beta of 1.26. Hancock Whitney has a twelve month low of $32.16 and a twelve month high of $57.78. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm had revenue of $359.60 million during the quarter, compared to the consensus estimate of $359.11 million. During the same quarter last year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that Hancock Whitney will post 5.17 earnings per share for the current year.

Insider Transactions at Hancock Whitney

In related news, Director Frank E. Bertucci sold 2,053 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total value of $117,082.59. Following the transaction, the director now owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Hancock Whitney

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clifford Capital Partners LLC lifted its position in shares of Hancock Whitney by 12.2% during the 2nd quarter. Clifford Capital Partners LLC now owns 8,434 shares of the company’s stock worth $403,000 after buying an additional 916 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Hancock Whitney in the second quarter valued at $813,000. Creative Planning boosted its stake in Hancock Whitney by 31.2% in the second quarter. Creative Planning now owns 16,241 shares of the company’s stock valued at $777,000 after acquiring an additional 3,865 shares in the last quarter. Algert Global LLC grew its holdings in shares of Hancock Whitney by 47.8% during the second quarter. Algert Global LLC now owns 137,020 shares of the company’s stock worth $6,554,000 after purchasing an additional 44,344 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Hancock Whitney by 20.9% during the second quarter. Millennium Management LLC now owns 780,882 shares of the company’s stock worth $37,350,000 after purchasing an additional 135,076 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

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.