Hancock Whitney (NASDAQ:HWC) Reaches New 12-Month High After Earnings Beat

Hancock Whitney Corporation (NASDAQ:HWC)’s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $71.20 and last traded at $69.7870, with a volume of 234135 shares. The stock had previously closed at $67.60.

The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. Hancock Whitney had a net margin of 24.05% and a return on equity of 11.16%. The firm had revenue of $81.55 million during the quarter, compared to the consensus estimate of $391.63 million. During the same quarter in the previous year, the company posted $1.40 earnings per share.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HWC shares. Citigroup increased their price target on Hancock Whitney from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays began coverage on Hancock Whitney in a research note on Wednesday, December 17th. They set an “overweight” rating and a $76.00 price objective for the company. DA Davidson boosted their price target on shares of Hancock Whitney from $77.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Hancock Whitney from $70.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Hancock Whitney in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $75.25.

Institutional Investors Weigh In On Hancock Whitney

Hedge funds have recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in Hancock Whitney by 929.5% in the 2nd quarter. True Wealth Design LLC now owns 453 shares of the company’s stock worth $26,000 after purchasing an additional 409 shares during the period. IFP Advisors Inc raised its stake in Hancock Whitney by 67.6% during the 3rd quarter. IFP Advisors Inc now owns 627 shares of the company’s stock valued at $39,000 after purchasing an additional 253 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hancock Whitney in the third quarter valued at $45,000. Hantz Financial Services Inc. boosted its position in shares of Hancock Whitney by 6,107.7% in the second quarter. Hantz Financial Services Inc. now owns 807 shares of the company’s stock worth $46,000 after buying an additional 794 shares during the period. Finally, Amundi purchased a new position in shares of Hancock Whitney during the first quarter valued at $50,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Hancock Whitney Stock Down 2.9%

The firm has a market cap of $5.62 billion, a PE ratio of 11.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.81. The business has a fifty day moving average price of $64.23 and a two-hundred day moving average price of $61.77.

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.