Hancock Whitney (NASDAQ:HWC) Given New $80.00 Price Target at DA Davidson

Key Points

• DA Davidson lowered Hancock Whitney’s price target to $80 from $86 but maintained a Buy rating, implying 22.1% upside from the prior close.
• Analyst views are mixed: Piper Sandler downgraded the stock to Neutral and cut its target to $71.50, while the overall consensus remains Moderate Buy with an average target of $82.06.
• Hancock Whitney reported quarterly EPS of $1.66, matching estimates and up from $1.49 a year earlier; revenue of $421.91 million was slightly above consensus.

Hancock Whitney (NASDAQ:HWC - Get Free Report) had its price objective dropped by stock analysts at DA Davidson from $86.00 to $80.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 22.12% from the company's previous close.

Other analysts have also recently issued reports about the stock. Piper Sandler cut shares of Hancock Whitney from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $88.00 to $71.50 in a report on Friday. Benchmark boosted their price objective on shares of Hancock Whitney from $84.00 to $91.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods decreased their target price on Hancock Whitney from $80.00 to $79.00 and set a "market perform" rating on the stock in a report on Wednesday, October 21st. Finally, Zacks Research downgraded Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.06.

Hancock Whitney Stock Performance

Shares of HWC traded up $0.51 during trading hours on Friday, hitting $65.51. The stock had a trading volume of 1,360,956 shares, compared to its average volume of 891,297. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.82 and a quick ratio of 0.80. Hancock Whitney has a 12 month low of $55.76 and a 12 month high of $80.13. The firm has a market capitalization of $5.21 billion, a PE ratio of 13.18 and a beta of 0.98. The stock has a fifty day moving average price of $73.09 and a 200 day moving average price of $71.04.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $1.66 earnings per share for the quarter, meeting analysts' consensus estimates of $1.66. Hancock Whitney had a return on equity of 11.65% and a net margin of 20.51%. The company had revenue of $421.91 million for the quarter, compared to the consensus estimate of $421.75 million. During the same quarter in the prior year, the company earned $1.49 earnings per share. Analysts anticipate that Hancock Whitney will post 6.42 EPS for the current year.

Insiders Place Their Bets

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $76.40, for a total value of $381,236.00. Following the sale, the insider directly owned 15,565 shares in the company, valued at approximately $1,189,166. The trade was a 24.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Hancock Whitney during the 2nd quarter valued at $28,000. Integrated Wealth Concepts LLC bought a new position in Hancock Whitney during the second quarter valued at $55,000. Root Financial Partners LLC bought a new position in Hancock Whitney during the third quarter valued at $55,000. IFP Advisors Inc raised its stake in shares of Hancock Whitney by 26.0% in the second quarter. IFP Advisors Inc now owns 852 shares of the company's stock valued at $64,000 after acquiring an additional 176 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Hancock Whitney in the second quarter valued at $74,000. Institutional investors own 81.22% of the company's stock.

Hancock Whitney News Summary

Investors following HWC have been watching these news items:

• Negative Sentiment: HWC shares fell sharply following the deal announcement, with dilution and integration risks raising doubts about whether the merger will deliver sustained growth. Article: Hancock Whitney Dips 10.2% on $3.2B Trustmark Deal
• Negative Sentiment: Piper Sandler cut its rating to “neutral” from “overweight” and lowered its price target to $71.50 from $88, signaling reduced confidence in the shares’ outlook. Piper Sandler rating information
• Negative Sentiment: Zacks Research is forecasting lower earnings for Hancock Whitney, adding to concerns about the company’s growth prospects. Article: Zacks Research Predicts Lower Earnings for Hancock Whitney

Hancock Whitney Company Profile

Hancock Whitney is a bank holding company headquartered in Gulfport, Mississippi, whose principal subsidiary is Hancock Whitney Bank. The company provides personal and business banking services, including deposit accounts, loans, treasury management, mortgage lending, and online and mobile banking. It also offers wealth management, trust, and investment services. The bank serves customers across the Gulf South, with operations in Mississippi, Louisiana, Alabama, Florida, and Texas. Its history includes roots in Hancock County Bank, founded in Bay St. Louis, Mississippi, in 1899, and Whitney National Bank, established in New Orleans in 1883.

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