Zacks Research Weighs in on Hancock Whitney Co.’s Q3 2024 Earnings (NASDAQ:HWC)

by · The Markets Daily

Hancock Whitney Co. (NASDAQ:HWC – Free Report) – Stock analysts at Zacks Research increased their Q3 2024 EPS estimates for Hancock Whitney in a research report issued on Monday, October 7th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $1.27 per share for the quarter, up from their prior estimate of $1.25. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.16 per share. Zacks Research also issued estimates for Hancock Whitney’s Q4 2024 earnings at $1.26 EPS, Q1 2025 earnings at $1.25 EPS, Q1 2026 earnings at $1.34 EPS and FY2026 earnings at $5.41 EPS.

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

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group decreased their price objective on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Truist Financial reduced their target price on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a report on Friday, September 20th. DA Davidson upped their target price on shares of Hancock Whitney from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Piper Sandler upped their target price on shares of Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.67.

Get Our Latest Analysis on Hancock Whitney

Hancock Whitney Stock Performance

NASDAQ HWC opened at $51.00 on Wednesday. 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 has a 1 year low of $32.16 and a 1 year high of $57.78. The company has a market capitalization of $4.42 billion, a PE ratio of 11.89 and a beta of 1.26. The company has a fifty day moving average of $50.40 and a two-hundred day moving average of $48.27.

Hancock Whitney Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.60 annualized dividend and a yield of 3.14%. Hancock Whitney’s dividend payout ratio is currently 37.30%.

Insider Buying and Selling

In other news, Director Frank E. Bertucci sold 2,053 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the transaction, the director now directly owns 22,554 shares of the company’s stock, valued at $1,286,254.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hancock Whitney

Hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Systems of Alabama raised its stake in shares of Hancock Whitney by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 108,183 shares of the company’s stock worth $4,981,000 after buying an additional 284 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Hancock Whitney by 5.7% in the second quarter. AlphaMark Advisors LLC now owns 6,622 shares of the company’s stock valued at $317,000 after purchasing an additional 356 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Hancock Whitney by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 21,140 shares of the company’s stock worth $973,000 after purchasing an additional 500 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Hancock Whitney by 5.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,865 shares of the company’s stock worth $520,000 after purchasing an additional 568 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hancock Whitney by 3.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,147 shares of the company’s stock valued at $868,000 after buying an additional 618 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Hancock Whitney Company Profile

(Get Free Report)

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.

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