Hancock Whitney (NYSE:HWC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $50.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.60% from the stock’s current price.
According to Zacks, “Shares of Hancock Whitney have underperformed the industry over the past six months. Yet, the company possesses an impressive earnings surprise history, beating the Zacks Consensus Estimate in three out of the trailing four quarters. Strategic initiatives, growth in loan and deposit balances and improving rate environment will likely continue to support profitability. The bank’s capital deployment activities also look impressive and indicate a strong balance sheet position. Further, the acquisition of the asset management and trust business of Capital One is expected to support bottom-line growth. However, higher costs owing to the company's business restructuring efforts as well as its exposure to risky loan portfolios remain major concerns and might hamper financials.”
A number of other analysts also recently commented on the company. Stephens restated a “buy” rating and set a $59.00 price objective on shares of Hancock Whitney in a report on Friday, July 27th. Piper Jaffray Companies set a $59.00 price objective on Hancock Whitney and gave the stock a “buy” rating in a report on Thursday, July 19th.
HWC stock opened at $43.63 on Tuesday. Hancock Whitney has a 52 week low of $41.00 and a 52 week high of $56.40.
Hancock Whitney (NYSE:HWC) last released its quarterly earnings data on Tuesday, October 16th. The company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $289.71 million for the quarter, compared to analyst estimates of $292.73 million.
In other news, CEO John M. Hairston sold 15,941 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $50.18, for a total transaction of $799,919.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine L. Pickering sold 586 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $51.55, for a total value of $30,208.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,452 shares of company stock valued at $1,240,246.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zeke Capital Advisors LLC acquired a new stake in Hancock Whitney in the 2nd quarter valued at $256,000. Texas Permanent School Fund acquired a new stake in Hancock Whitney in the 2nd quarter valued at $2,568,000. Chickasaw Capital Management LLC acquired a new stake in Hancock Whitney in the 2nd quarter valued at $2,738,000. LS Investment Advisors LLC acquired a new stake in Hancock Whitney in the 2nd quarter valued at $227,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in Hancock Whitney in the 2nd quarter valued at $3,363,000.
About Hancock Whitney
Hancock Whitney Corp. is a bank holding company, which engages in the provision of financial services. It also offers trust and investment management services to retirement plans, corporations, and individuals; and brokerage services, annuity products, and life insurance, general insurance agency services, including life and title insurance, consumer financing service.
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