DA Davidson Predicts Increased Earnings for Hancock Whitney

Hancock Whitney Co. (NASDAQ:HWC) – Investment analysts at DA Davidson upped their FY2024 earnings estimates for Hancock Whitney in a research report issued to clients and investors on Thursday, October 17th. DA Davidson analyst G. Tenner now forecasts that the company will earn $5.24 per share for the year, up from their previous forecast of $5.16. DA Davidson has a “Buy” rating and a $65.00 price target on the stock. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.14 per share. DA Davidson also issued estimates for Hancock Whitney’s FY2025 earnings at $5.26 EPS.

A number of other equities research analysts also recently issued reports on HWC. Truist Financial reduced their price objective on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Hovde Group increased their price target on Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group cut their price objective on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Piper Sandler upped their price objective on Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price target 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 given a buy rating to the stock. Based on data from MarketBeat, Hancock Whitney has an average rating of “Moderate Buy” and a consensus target price of $56.89.

Hancock Whitney Stock Down 2.3 %

HWC stock opened at $50.96 on Monday. The firm has a market capitalization of $4.41 billion, a PE ratio of 11.88 and a beta of 1.26. 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 has a twelve month low of $32.16 and a twelve month high of $57.78. The stock’s 50 day moving average is $51.02 and its 200-day moving average is $48.72.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. The firm had revenue of $525.37 million for the quarter, compared to the consensus estimate of $363.54 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. During the same quarter in the prior year, the company posted $1.12 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Triad Wealth Partners LLC purchased a new stake in Hancock Whitney during the second quarter valued at about $31,000. Mather Group LLC. bought a new position in Hancock Whitney during the second quarter valued at approximately $37,000. Headlands Technologies LLC purchased a new position in shares of Hancock Whitney during the second quarter worth approximately $43,000. CWM LLC lifted its holdings in shares of Hancock Whitney by 268.9% in the 2nd quarter. CWM LLC now owns 985 shares of the company’s stock worth $47,000 after acquiring an additional 718 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Hancock Whitney in the 2nd quarter valued at $63,000. 81.22% of the stock is currently owned by institutional investors.

Insider Activity at Hancock Whitney

In other news, Director Frank E. Bertucci sold 2,053 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the completion of the transaction, the director now directly owns 22,554 shares in the company, valued at approximately $1,286,254.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, September 5th. Hancock Whitney’s dividend payout ratio (DPR) is presently 37.30%.

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.