Citigroup Lowers Hancock Whitney (NASDAQ:HWC) Price Target to $86.00

Key Points

• Citigroup lowered Hancock Whitney’s price target from $87 to $86 but maintained a “Buy” rating, implying approximately 15.29% upside from the stock’s $74.59 price. The broader analyst consensus is “Moderate Buy,” with an average target of $84.22.
• Hancock Whitney’s latest quarterly results met expectations, with EPS of $1.55 and revenue of $403.57 million, up 6.9% year over year. Analysts expect full-year EPS of approximately $6.44.
• Institutional investors own 81.22% of the company, while recent insider activity included stock sales by the CFO and another insider. BlackRock also established a new position valued at roughly $814.8 million.

Hancock Whitney (NASDAQ:HWC - Get Free Report) had its price objective decreased by stock analysts at Citigroup from $87.00 to $86.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 15.29% from the stock's current price.

HWC has been the subject of several other reports. Keefe, Bruyette & Woods boosted their price target on Hancock Whitney from $78.00 to $80.00 and gave the company a "market perform" rating in a research note on Wednesday, July 22nd. Piper Sandler reissued an "overweight" rating and issued a $87.00 price target on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Barclays upped their target price on Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Hancock Whitney from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Hancock Whitney from a "hold (c+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hancock Whitney has an average rating of "Moderate Buy" and a consensus target price of $84.22.

Hancock Whitney Stock Performance

HWC opened at $74.59 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The business's 50-day moving average price is $76.34 and its two-hundred day moving average price is $70.81. Hancock Whitney has a 1 year low of $54.05 and a 1 year high of $80.13. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 14.59 and a beta of 0.94.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The business had revenue of $403.57 million during the quarter, compared to the consensus estimate of $398.89 million. During the same period in the previous year, the company posted $1.37 EPS. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Hancock Whitney will post 6.44 EPS for the current fiscal year.

Insider Buying and Selling at Hancock Whitney

In other Hancock Whitney news, CFO Michael Achary sold 22,694 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the sale, the chief financial officer owned 44,160 shares of the company's stock, valued at $3,364,108.80. The trade was a 33.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Emory L. Mayfield, Jr. sold 4,990 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares of the company's stock, valued at $1,189,166. This trade represents a 24.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.92% of the company's stock.

Institutional Investors Weigh In On Hancock Whitney

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Hancock Whitney in the second quarter worth about $814,839,000. Norges Bank purchased a new position in Hancock Whitney during the 4th quarter valued at about $57,463,000. Bank of New York Mellon Corp purchased a new stake in Hancock Whitney during the second quarter worth $55,605,000. Bank of America Corp DE bought a new stake in Hancock Whitney during the second quarter valued at about $52,973,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Hancock Whitney during the 2nd quarter worth approximately $40,112,000. Institutional investors own 81.22% of the company's stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. The bank provides banking and financial services to individuals, families, businesses and institutions across the Gulf South.

Its offerings include personal and business deposit accounts, consumer and commercial loans, residential and commercial real estate financing, treasury management, online and mobile banking, investment services and wealth management.

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