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

Hancock Whitney Co. (NASDAQ:HWC) – Equities research analysts at Zacks Research upped their FY2024 earnings per share estimates for Hancock Whitney in a note issued to investors on Tuesday, August 27th. Zacks Research analyst R. Department now forecasts that the company will earn $5.08 per share for the year, up from their previous estimate of $5.03. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.10 per share.

A number of other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Piper Sandler boosted their price target on Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Jefferies Financial Group lowered 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. Truist Financial boosted their target price on shares of Hancock Whitney from $49.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Finally, Citigroup upped their price target on shares of Hancock Whitney from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Hancock Whitney presently has an average rating of “Moderate Buy” and an average price target of $56.78.

Hancock Whitney Trading Up 1.0 %

HWC stock opened at $53.73 on Friday. Hancock Whitney has a one year low of $32.16 and a one year high of $57.78. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 12.52 and a beta of 1.29. The company has a fifty day moving average price of $50.40 and a two-hundred day moving average price of $46.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79.

Hancock Whitney (NASDAQ:HWC) last issued its earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The business had revenue of $359.60 million for the quarter, compared to the consensus estimate of $359.11 million. During the same period in the previous year, the company earned $1.35 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in Hancock Whitney during the 2nd quarter worth approximately $31,000. Mather Group LLC. acquired a new position in Hancock Whitney during the 2nd quarter worth about $37,000. Headlands Technologies LLC acquired a new position in Hancock Whitney during the 2nd quarter worth about $43,000. CWM LLC grew its position in shares of Hancock Whitney by 268.9% in the 2nd quarter. CWM LLC now owns 985 shares of the company’s stock valued at $47,000 after buying an additional 718 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Hancock Whitney in the fourth quarter valued at about $49,000. 81.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frank E. Bertucci sold 2,053 shares of the stock in a transaction dated 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 owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Hancock Whitney Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. Hancock Whitney’s payout ratio is 37.30%.

Hancock Whitney Company Profile

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.