Hancock Whitney (NASDAQ:HWC) PT Lowered to $46.00

Hancock Whitney (NASDAQ:HWC) had its price target reduced by equities researchers at Truist Financial from $50.00 to $46.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 7.83% from the company’s current price.

Other analysts have also recently issued research reports about the company. Piper Sandler restated an “overweight” rating and issued a $52.00 price target (down previously from $55.00) on shares of Hancock Whitney in a report on Wednesday. Citigroup upgraded Hancock Whitney from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $50.00 in a report on Wednesday. Raymond James lifted their price target on Hancock Whitney from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Jefferies Financial Group lowered their price target on Hancock Whitney from $51.00 to $45.00 and set a “hold” rating for the company in a report on Monday, April 8th. Finally, Stephens restated an “equal weight” rating and issued a $50.00 price target on shares of Hancock Whitney in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $49.75.

Hancock Whitney Price Performance

Hancock Whitney stock traded up $0.65 during midday trading on Wednesday, reaching $42.66. 1,096,686 shares of the company were exchanged, compared to its average volume of 502,764. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.52 and a beta of 1.33. The firm’s 50-day simple moving average is $43.55 and its 200-day simple moving average is $42.43. Hancock Whitney has a 1 year low of $31.02 and a 1 year high of $49.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings data on Tuesday, January 16th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $308.41 million during the quarter, compared to analysts’ expectations 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 last year, the business posted $1.65 EPS. On average, analysts anticipate that Hancock Whitney will post 4.8 EPS for the current year.

Insider Transactions at Hancock Whitney

In related news, insider Joseph S. Exnicios sold 4,042 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $45.28, for a total transaction of $183,021.76. Following the transaction, the insider now directly owns 40,016 shares of the company’s stock, valued at approximately $1,811,924.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joseph S. Exnicios sold 4,042 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $45.28, for a total transaction of $183,021.76. Following the transaction, the insider now directly owns 40,016 shares of the company’s stock, valued at approximately $1,811,924.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph S. Exnicios sold 9,857 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,421,996.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,225 shares of company stock worth $1,634,014. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hancock Whitney

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BTC Capital Management Inc. acquired a new position in shares of Hancock Whitney in the 1st quarter valued at approximately $349,000. Vanguard Group Inc. raised its position in shares of Hancock Whitney by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 9,192,628 shares of the company’s stock valued at $446,670,000 after purchasing an additional 95,432 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Hancock Whitney by 4.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 101,605 shares of the company’s stock valued at $4,938,000 after purchasing an additional 3,895 shares in the last quarter. Spouting Rock Asset Management LLC raised its position in shares of Hancock Whitney by 15.9% in the 4th quarter. Spouting Rock Asset Management LLC now owns 24,444 shares of the company’s stock valued at $1,188,000 after purchasing an additional 3,346 shares in the last quarter. Finally, Cim Investment Management Inc. acquired a new position in shares of Hancock Whitney in the 4th quarter valued at approximately $210,000. 81.22% of the stock is owned by institutional investors and hedge funds.

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.