Hancock Whitney (NASDAQ:HWC) Issues Quarterly Earnings Results

Key Points

• Hancock Whitney reported quarterly earnings of $1.49 per share, exceeding analysts' expectations of $1.41 by $0.08, and achieved a return on equity of 11.21% with a net margin of 23.28%.
• The company declared a quarterly dividend of $0.45, amounting to an annualized dividend of $1.80, which represents a yield of 2.9%.
• Analysts have varied opinions on the stock, with a range of price target increases; the average target price for Hancock Whitney is now $70.00.

Hancock Whitney (NASDAQ:HWC - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.08, Zacks reports. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%.

Hancock Whitney Stock Performance

HWC traded up $2.04 during trading hours on Tuesday, reaching $62.53. The company's stock had a trading volume of 1,193,955 shares, compared to its average volume of 737,103. Hancock Whitney has a 52 week low of $43.90 and a 52 week high of $64.66. The company's 50-day moving average is $61.96 and its 200-day moving average is $57.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $5.30 billion, a PE ratio of 11.52 and a beta of 1.11.

Hancock Whitney Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, September 5th. Hancock Whitney's dividend payout ratio is 33.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on HWC shares. Keefe, Bruyette & Woods lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $62.00 to $63.00 in a report on Friday, July 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Hancock Whitney in a research report on Monday, September 8th. Piper Sandler upped their price target on Hancock Whitney from $70.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. DA Davidson upped their price target on Hancock Whitney from $65.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Citigroup upped their price target on Hancock Whitney from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $70.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Amundi acquired a new stake in Hancock Whitney in the first quarter valued at about $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Hancock Whitney by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company's stock valued at $2,710,000 after purchasing an additional 2,255 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Hancock Whitney by 22.9% during the first quarter. NewEdge Advisors LLC now owns 3,755 shares of the company's stock valued at $197,000 after purchasing an additional 700 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Hancock Whitney by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company's stock valued at $15,078,000 after purchasing an additional 11,551 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Hancock Whitney by 951.9% during the first quarter. Jane Street Group LLC now owns 123,812 shares of the company's stock valued at $6,494,000 after purchasing an additional 112,042 shares in the last quarter. Institutional investors own 81.22% of the company's stock.

Hancock Whitney Company Profile

Hancock Whitney Corporation operates as the financial holding company for Hancock Whitney Bank that provides traditional and online banking services to commercial, small business, and retail customers. It offers various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.

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