Hancock Whitney (NASDAQ:HWC) Cut to Market Perform at Keefe, Bruyette & Woods

Hancock Whitney (NASDAQ:HWC - Get Free Report) was downgraded by analysts at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research note issued on Friday, Marketbeat reports. They currently have a $63.00 target price on the stock, up from their previous target price of $62.00. Keefe, Bruyette & Woods' price objective points to a potential upside of 4.60% from the company's previous close.

A number of other equities analysts have also recently issued reports on HWC. Piper Sandler reiterated an "overweight" rating and issued a $70.00 target price (up from $68.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. DA Davidson cut their target price on Hancock Whitney from $69.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $62.00 target price (down from $72.00) on shares of Hancock Whitney in a report on Wednesday, April 16th. Finally, Stephens cut their target price on Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $63.43.

Hancock Whitney Trading Up 1.1%

Shares of Hancock Whitney stock traded up $0.65 on Friday, reaching $60.23. 927,442 shares of the company's stock were exchanged, compared to its average volume of 626,781. The company has a market capitalization of $5.16 billion, a P/E ratio of 11.11 and a beta of 1.05. Hancock Whitney has a 52 week low of $43.90 and a 52 week high of $62.40. The firm's 50-day moving average is $56.18 and its two-hundred day moving average is $55.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. The firm had revenue of $367.50 million for the quarter, compared to analysts' expectations of $368.12 million. Hancock Whitney had a return on equity of 11.43% and a net margin of 23.15%. Sell-side analysts predict that Hancock Whitney will post 5.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christine L. Pickering sold 838 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $48.09, for a total value of $40,299.42. Following the completion of the sale, the director directly owned 23,019 shares of the company's stock, valued at approximately $1,106,983.71. This represents a 3.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.91% of the company's stock.

Institutional Investors Weigh In On Hancock Whitney

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in Hancock Whitney in the 1st quarter valued at $31,000. Versant Capital Management Inc increased its position in shares of Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company's stock valued at $37,000 after purchasing an additional 599 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of Hancock Whitney during the 1st quarter valued at $41,000. Amundi purchased a new stake in shares of Hancock Whitney during the 1st quarter valued at $50,000. Finally, UMB Bank n.a. increased its position in shares of Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after purchasing an additional 917 shares during the last quarter. 81.22% of the stock is owned by hedge funds and other institutional investors.

About Hancock Whitney

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.