Piper Sandler Forecasts Strong Price Appreciation for Hancock Whitney (NASDAQ:HWC) Stock

Hancock Whitney (NASDAQ:HWC - Get Free Report) had its price target boosted by analysts at Piper Sandler from $70.00 to $72.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 21.17% from the stock's current price.

A number of other research firms have also commented on HWC. DA Davidson cut their price objective on Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Stephens reduced their price objective on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Raymond James Financial reiterated a "strong-buy" rating and set a $62.00 price target (down previously from $72.00) on shares of Hancock Whitney in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods cut Hancock Whitney from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $62.00 to $63.00 in a report on Friday, July 11th. Finally, Hovde Group raised their price target on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.71.

Hancock Whitney Stock Performance

Hancock Whitney stock traded up $1.20 during mid-day trading on Wednesday, hitting $59.42. 1,868,894 shares of the company's stock traded hands, compared to its average volume of 632,764. The firm has a 50 day simple moving average of $56.40 and a two-hundred day simple moving average of $55.07. Hancock Whitney has a fifty-two week low of $43.90 and a fifty-two week high of $62.40. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 10.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.82 and a quick ratio of 0.82.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. The business had revenue of $377.98 million during the quarter, compared to the consensus estimate of $375.99 million. Hancock Whitney had a return on equity of 11.33% and a net margin of 23.28%. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, research analysts expect that Hancock Whitney will post 5.53 EPS for the current fiscal year.

Insider Activity at Hancock Whitney

In related news, Director Christine L. Pickering sold 838 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $48.09, for a total value of $40,299.42. Following the sale, the director directly owned 23,019 shares in the company, valued at approximately $1,106,983.71. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company's stock.

Institutional Investors Weigh In On Hancock Whitney

Several hedge funds and other institutional investors have recently modified their holdings of HWC. Focus Partners Wealth lifted its holdings in Hancock Whitney by 1.8% during the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company's stock worth $539,000 after buying an additional 173 shares during the period. Louisiana State Employees Retirement System raised its stake in Hancock Whitney by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company's stock worth $1,264,000 after acquiring an additional 200 shares during the last quarter. Xponance Inc. grew its position in Hancock Whitney by 1.7% during the 1st quarter. Xponance Inc. now owns 12,473 shares of the company's stock worth $654,000 after purchasing an additional 213 shares during the period. BTC Capital Management Inc. grew its position in Hancock Whitney by 3.0% during the 2nd quarter. BTC Capital Management Inc. now owns 7,459 shares of the company's stock worth $427,000 after purchasing an additional 219 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Hancock Whitney by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 10,085 shares of the company's stock worth $528,000 after purchasing an additional 265 shares during the period. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

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.