Hancock Whitney (NASDAQ:HWC) Announces Earnings Results, Hits Expectations

Key Points

• Hancock Whitney met earnings expectations, reporting quarterly EPS of $1.66 and revenue of $421.91 million, slightly above analysts’ $421.75 million estimate.
• The stock rose 2.2% to $74.13, while the company declared a $0.50 quarterly dividend, equivalent to a $2.00 annual payout and a 2.7% yield.
• Analysts maintain a favorable outlook, with a “Moderate Buy” consensus rating and an average price target of $84.56; however, two insiders recently sold shares.

Hancock Whitney (NASDAQ:HWC - Get Free Report) posted its earnings results on Tuesday. The company reported $1.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.66, FiscalAI reports. The firm had revenue of $421.91 million for the quarter, compared to analyst estimates of $421.75 million. Hancock Whitney had a return on equity of 11.36% and a net margin of 21.81%.

Hancock Whitney Trading Up 2.2%

NASDAQ:HWC traded up $1.63 during trading hours on Tuesday, reaching $74.13. 1,272,641 shares of the company were exchanged, compared to its average volume of 861,208. 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 firm has a market cap of $5.95 billion, a price-to-earnings ratio of 14.54 and a beta of 0.97. Hancock Whitney has a 52-week low of $55.11 and a 52-week high of $80.13. The stock has a 50 day simple moving average of $74.54 and a 200 day simple moving average of $72.20.

Hancock Whitney Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.00 annualized dividend and a yield of 2.7%. Hancock Whitney's dividend payout ratio is 39.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HWC shares. Stephens cut their price target on Hancock Whitney from $86.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $87.00 price objective on shares of Hancock Whitney in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Hancock Whitney from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods lifted their price objective on Hancock Whitney from $78.00 to $80.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 22nd. Finally, Benchmark boosted their target price on shares of Hancock Whitney from $84.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. One investment 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 company's stock. According to data from MarketBeat, Hancock Whitney has an average rating of "Moderate Buy" and an average target price of $84.56.

Insider Buying and Selling at Hancock Whitney

In related news, CFO Michael M. Achary sold 22,694 shares of the stock in a transaction on 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 directly owned 44,160 shares of the company's stock, valued at approximately $3,364,108.80. This trade represents a 33.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the insider owned 15,565 shares in the company, valued at $1,189,166. The trade was a 24.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is owned by insiders.

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, businesses, and institutions through branches and digital banking channels.

Its products and services include checking and savings accounts, consumer and commercial lending, residential mortgages, credit cards, treasury and cash management services, and online and mobile banking.

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