Hancock Whitney (NASDAQ:HWC) PT Lowered to $56.00

Hancock Whitney (NASDAQ:HWC) had its price target cut by stock analysts at Truist Financial from $57.00 to $56.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 8.91% from the company’s previous close.

HWC has been the topic of a number of other reports. Piper Sandler lifted their price objective on shares of Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Hovde Group raised their target price on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. DA Davidson boosted their price target on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group dropped their target price 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.67.

Hancock Whitney Stock Performance

Hancock Whitney stock traded down $0.84 during midday trading on Friday, hitting $51.42. 321,357 shares of the company’s stock were exchanged, compared to its average volume of 497,871. The firm’s 50 day simple moving average is $51.46 and its 200 day simple moving average is $47.49. Hancock Whitney has a 12-month low of $32.16 and a 12-month high of $57.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 11.99 and a beta of 1.26.

Hancock Whitney (NASDAQ:HWC) last issued its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.11. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. The firm had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $359.11 million. During the same quarter in the previous year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts predict that Hancock Whitney will post 5.17 EPS for the current year.

Insider Activity

In related news, Director Frank E. Bertucci sold 2,053 shares of the business’s 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 sale, the director now directly owns 22,554 shares in the company, valued at approximately $1,286,254.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HWC. Clifford Capital Partners LLC grew its holdings in Hancock Whitney by 12.2% during the 2nd quarter. Clifford Capital Partners LLC now owns 8,434 shares of the company’s stock valued at $403,000 after buying an additional 916 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Hancock Whitney in the second quarter worth $813,000. Creative Planning lifted its position in shares of Hancock Whitney by 31.2% in the second quarter. Creative Planning now owns 16,241 shares of the company’s stock valued at $777,000 after acquiring an additional 3,865 shares in the last quarter. Algert Global LLC boosted its stake in shares of Hancock Whitney by 47.8% during the second quarter. Algert Global LLC now owns 137,020 shares of the company’s stock valued at $6,554,000 after acquiring an additional 44,344 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Hancock Whitney by 20.9% during the second quarter. Millennium Management LLC now owns 780,882 shares of the company’s stock valued at $37,350,000 after acquiring an additional 135,076 shares during the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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.