Hancock Whitney (NASDAQ:HWC) Downgraded by Wall Street Zen to Sell

Key Points

• Hancock Whitney has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, reflecting a shift in market sentiment towards the stock.
• Despite the downgrade, other analysts have different perspectives: DA Davidson rated it as a "buy" with a target price increase to $67.00, while Raymond James maintained a "strong-buy" rating.
• Currently, Hancock Whitney holds a consensus rating of "Moderate Buy" with a price target of $66.71, and significant institutional ownership is confirmed at 81.22% of the stock.

Hancock Whitney (NASDAQ:HWC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Monday.

HWC has been the subject of several other reports. Keefe, Bruyette & Woods lowered Hancock Whitney from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $62.00 to $63.00 in a report on Friday, July 11th. DA Davidson lifted their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Hovde Group lifted their target price on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Raymond James Financial restated a "strong-buy" rating on shares of Hancock Whitney in a research note on Wednesday, July 16th. Finally, Piper Sandler lifted their target price on Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.71.

Hancock Whitney Stock Up 1.1%

Shares of NASDAQ HWC traded up $0.68 during midday trading on Monday, reaching $60.96. 229,748 shares of the company's stock were exchanged, compared to its average volume of 717,560. Hancock Whitney has a 52-week low of $43.90 and a 52-week high of $62.90. The stock has a market capitalization of $5.17 billion, a PE ratio of 11.24 and a beta of 1.11. 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 business's fifty day moving average price is $58.03 and its two-hundred day moving average price is $55.45.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.01. The business had revenue of $377.98 million for the quarter, compared to analyst estimates of $375.99 million. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%. During the same period in the previous year, the company earned $1.31 earnings per share. Analysts forecast that Hancock Whitney will post 5.53 EPS for the current year.

Hedge Funds Weigh In On Hancock Whitney

Several hedge funds and other institutional investors have recently made changes to their positions in HWC. True Wealth Design LLC boosted its position in shares of Hancock Whitney by 929.5% during the second quarter. True Wealth Design LLC now owns 453 shares of the company's stock worth $26,000 after buying an additional 409 shares during the period. Brooklyn Investment Group bought a new stake in Hancock Whitney during the first quarter worth approximately $31,000. Versant Capital Management Inc raised its holdings in Hancock Whitney by 554.6% during the first quarter. Versant Capital Management Inc now owns 707 shares of the company's stock worth $37,000 after purchasing an additional 599 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of Hancock Whitney in the first quarter valued at $41,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Hancock Whitney by 6,107.7% in the second quarter. Hantz Financial Services Inc. now owns 807 shares of the company's stock valued at $46,000 after buying an additional 794 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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.