Hancock Whitney (NASDAQ:HWC) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Hancock Whitney (HWC) from a "strong-buy" to a "hold" in its latest research report.
• Most analysts remain broadly positive—MarketBeat shows a consensus rating of "Moderate Buy" (1 Strong Buy, 6 Buy, 2 Hold) with an average target price of $76.86, and several firms recently raised their price objectives.
• HWC reported quarterly EPS of $1.52, beating estimates by $0.04, but revenue fell 19.7% year-over-year to $393.64 million; the stock was trading around $66.83, below the consensus target.

Hancock Whitney (NASDAQ:HWC - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research analysts also recently commented on HWC. Citigroup upped their price objective on Hancock Whitney from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Piper Sandler upped their price objective on Hancock Whitney from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on Hancock Whitney from $70.00 to $72.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 21st. Raymond James Financial upped their price objective on Hancock Whitney from $72.00 to $78.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, January 7th. Finally, DA Davidson upped their price objective on Hancock Whitney from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $76.86.

Hancock Whitney Price Performance

Shares of NASDAQ HWC opened at $66.83 on Thursday. Hancock Whitney has a twelve month low of $51.17 and a twelve month high of $75.43. The company has a current ratio of 0.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.72 and a beta of 1.02. The business has a 50 day simple moving average of $65.71 and a 200-day simple moving average of $64.27.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.04. The firm had revenue of $393.64 million during the quarter, compared to the consensus estimate of $400.01 million. Hancock Whitney had a return on equity of 11.20% and a net margin of 21.34%.The firm's revenue was down 19.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. As a group, equities research analysts expect that Hancock Whitney will post 6.28 earnings per share for the current year.

Institutional Trading of Hancock Whitney

Several institutional investors have recently modified their holdings of HWC. Vident Advisory LLC lifted its position in shares of Hancock Whitney by 4.5% in the 4th quarter. Vident Advisory LLC now owns 3,517 shares of the company's stock worth $224,000 after acquiring an additional 153 shares during the period. SG Americas Securities LLC lifted its position in shares of Hancock Whitney by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 24,457 shares of the company's stock worth $1,555,000 after acquiring an additional 153 shares during the period. BTC Capital Management Inc. lifted its position in shares of Hancock Whitney by 1.9% in the 1st quarter. BTC Capital Management Inc. now owns 8,472 shares of the company's stock worth $539,000 after acquiring an additional 162 shares during the period. Hilton Head Capital Partners LLC lifted its position in shares of Hancock Whitney by 31.0% in the 1st quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company's stock worth $46,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Hancock Whitney by 12.7% in the 4th quarter. GAMMA Investing LLC now owns 1,617 shares of the company's stock worth $103,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 81.22% of the company's stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation NASDAQ: HWC is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.

The company's core business activities include commercial banking, retail banking and wealth management services.

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