Zacks Research Weighs in on Hancock Whitney Co.’s FY2024 Earnings (NASDAQ:HWC)

Hancock Whitney Co. (NASDAQ:HWC) – Equities researchers at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Hancock Whitney in a research report issued to clients and investors on Tuesday, March 26th. Zacks Research analyst R. Department now expects that the company will earn $4.63 per share for the year, up from their prior forecast of $4.52. The consensus estimate for Hancock Whitney’s current full-year earnings is $4.78 per share. Zacks Research also issued estimates for Hancock Whitney’s Q4 2024 earnings at $1.19 EPS and Q1 2025 earnings at $1.17 EPS.

Several other brokerages have also issued reports on HWC. Piper Sandler increased their target price on Hancock Whitney from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. DA Davidson reissued a “buy” rating and issued a $55.00 target price on shares of Hancock Whitney in a research report on Tuesday, February 13th. StockNews.com raised Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. Citigroup began coverage on Hancock Whitney in a research note on Friday, December 1st. They issued a “neutral” rating and a $45.00 price target on the stock. Finally, Stephens cut their price target on Hancock Whitney from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hancock Whitney presently has a consensus rating of “Hold” and an average price target of $48.88.

Hancock Whitney Trading Up 5.2 %

HWC opened at $45.73 on Thursday. Hancock Whitney has a one year low of $31.02 and a one year high of $49.65. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 10.16 and a beta of 1.32. The business has a 50 day simple moving average of $43.96 and a two-hundred day simple moving average of $41.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, January 16th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $308.41 million during the quarter, compared to analyst estimates of $355.51 million. Hancock Whitney had a return on equity of 12.54% and a net margin of 20.57%. During the same quarter in the prior year, the company posted $1.65 EPS.

Hancock Whitney Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.30 dividend. The ex-dividend date was Monday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. Hancock Whitney’s dividend payout ratio (DPR) is currently 26.67%.

Insider Transactions at Hancock Whitney

In other news, insider Christopher S. Ziluca sold 3,636 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $43.50, for a total value of $158,166.00. Following the transaction, the insider now directly owns 35,285 shares in the company, valued at approximately $1,534,897.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joseph S. Exnicios sold 9,857 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $47.15, for a total value of $464,757.55. Following the transaction, the insider now directly owns 30,159 shares of the company’s stock, valued at approximately $1,421,996.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher S. Ziluca sold 3,636 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $43.50, for a total value of $158,166.00. Following the sale, the insider now directly owns 35,285 shares in the company, valued at $1,534,897.50. The disclosure for this sale can be found here. Insiders have sold a total of 35,225 shares of company stock worth $1,634,014 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

A number of institutional investors and hedge funds have recently bought and sold shares of HWC. Norges Bank bought a new stake in shares of Hancock Whitney in the fourth quarter worth about $46,846,000. Balyasny Asset Management L.P. bought a new stake in shares of Hancock Whitney in the fourth quarter worth about $38,143,000. Wasatch Advisors LP purchased a new position in Hancock Whitney in the first quarter worth about $22,744,000. State Street Corp grew its position in Hancock Whitney by 15.0% in the first quarter. State Street Corp now owns 4,567,941 shares of the company’s stock worth $238,218,000 after acquiring an additional 596,516 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in Hancock Whitney by 183.1% in the second quarter. Citadel Advisors LLC now owns 442,487 shares of the company’s stock worth $19,616,000 after acquiring an additional 286,206 shares in the last quarter. 81.22% of the stock is owned by institutional investors.

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.