Hancock Whitney (NASDAQ:HWC) Stock Gets Price Target Increase from Barclays

Key Points

• Barclays raised Hancock Whitney’s price target to $85 from $82 and maintained an “overweight” rating, implying approximately 16% upside from the prior close.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $84.56.
• Hancock Whitney’s latest quarterly results matched the $1.55 EPS estimate, while revenue of $403.57 million exceeded expectations and increased 6.9% year over year.

Hancock Whitney (NASDAQ:HWC - Get Free Report) had its target price raised by investment analysts at Barclays from $82.00 to $85.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 16.05% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Weiss Ratings upgraded Hancock Whitney from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Wall Street Zen upgraded Hancock Whitney from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Zacks Research lowered shares of Hancock Whitney from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $87.00 price target on shares of Hancock Whitney in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Hancock Whitney presently has an average rating of "Moderate Buy" and a consensus target price of $84.56.

Hancock Whitney Stock Up 0.2%

NASDAQ HWC traded up $0.16 on Monday, hitting $73.25. 147,430 shares of the stock traded hands, compared to its average volume of 863,804. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $5.88 billion, a P/E ratio of 14.36 and a beta of 0.97. Hancock Whitney has a twelve month low of $54.05 and a twelve month high of $80.13. The stock has a 50-day moving average of $75.58 and a 200 day moving average of $71.42.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.The firm had revenue of $403.57 million for the quarter, compared to analysts' expectations of $398.89 million. During the same period last year, the business posted $1.37 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts expect that Hancock Whitney will post 6.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hancock Whitney news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the transaction, the insider owned 15,565 shares of the company's stock, valued at approximately $1,189,166. This represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Achary sold 22,694 shares of the business's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $76.18, for a total value of $1,728,828.92. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HWC. Cim Investment Management Inc. increased its stake in Hancock Whitney by 7.3% in the second quarter. Cim Investment Management Inc. now owns 3,534 shares of the company's stock valued at $264,000 after purchasing an additional 240 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Hancock Whitney by 20.7% during the second quarter. Sequoia Financial Advisors LLC now owns 17,434 shares of the company's stock worth $1,303,000 after purchasing an additional 2,987 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Hancock Whitney in the 2nd quarter valued at $1,794,000. Integrated Wealth Concepts LLC acquired a new position in shares of Hancock Whitney in the 2nd quarter valued at $55,000. Finally, NewEdge Advisors LLC increased its position in shares of Hancock Whitney by 22.0% in the 2nd quarter. NewEdge Advisors LLC now owns 21,359 shares of the company's stock valued at $1,596,000 after buying an additional 3,856 shares in the last quarter. 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. Founded in 1883, the bank has grown from a community banking institution in coastal Mississippi into a regional bank serving individuals, businesses and institutions across the Gulf South.

Hancock Whitney provides personal and business deposit accounts, consumer and commercial loans, mortgages, credit and debit cards, online and mobile banking, and treasury management services.

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