Hancock Whitney (NASDAQ:HWC) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James Financial raised its target price for Hancock Whitney from $68.00 to $73.00, indicating a potential upside of 16.39% from the stock's previous close.
• Hancock Whitney has received a mix of recommendations, with one firm rating it as a Strong Buy, five firms as Buy, and two as Hold, leading to an average rating of Moderate Buy.
• The company reported earnings of $1.37 per share for the last quarter, exceeding analyst estimates, with a revenue of $377.98 million which also surpassed expectations.

Hancock Whitney (NASDAQ:HWC - Get Free Report) had its target price hoisted by equities research analysts at Raymond James Financial from $68.00 to $73.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James Financial's target price indicates a potential upside of 16.39% from the stock's previous close.

A number of other research firms also recently commented on HWC. Citigroup increased their price objective on Hancock Whitney from $70.00 to $74.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. DA Davidson boosted their target price on Hancock Whitney from $65.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wall Street Zen downgraded Hancock Whitney from a "hold" rating to a "sell" rating in a research note on Monday, August 11th. Piper Sandler lifted 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. Finally, Hovde Group increased their price objective on Hancock Whitney from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.25.

Hancock Whitney Stock Performance

HWC opened at $62.72 on Monday. Hancock Whitney has a 52-week low of $43.90 and a 52-week high of $64.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The firm's fifty day simple moving average is $60.64 and its two-hundred day simple moving average is $55.72. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 11.55 and a beta of 1.13.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.01. Hancock Whitney had a net margin of 23.28% and a return on equity of 11.21%. The company had revenue of $377.98 million during the quarter, compared to the consensus estimate of $375.99 million. During the same quarter in the prior year, the firm earned $1.31 EPS. Equities analysts anticipate that Hancock Whitney will post 5.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hancock Whitney

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth increased its holdings in shares of Hancock Whitney by 1.8% during the fourth quarter. Focus Partners Wealth now owns 9,854 shares of the company's stock valued at $539,000 after purchasing an additional 173 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Hancock Whitney by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company's stock valued at $1,264,000 after acquiring an additional 200 shares in the last quarter. Xponance Inc. increased its stake in shares of Hancock Whitney by 1.7% during the first quarter. Xponance Inc. now owns 12,473 shares of the company's stock valued at $654,000 after acquiring an additional 213 shares during the period. BTC Capital Management Inc. raised its holdings in Hancock Whitney by 3.0% during the second quarter. BTC Capital Management Inc. now owns 7,459 shares of the company's stock worth $427,000 after purchasing an additional 219 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Hancock Whitney by 2.7% in the first 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. Institutional investors and hedge funds 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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