Hancock Whitney (NASDAQ:HWC) Upgraded to Hold at Wall Street Zen

Key Points

• Hancock Whitney was upgraded from a "sell" to a "hold" rating by Wall Street Zen in a recent research report, indicating a more favorable outlook for the stock.
• Analysts have adjusted target prices, with Piper Sandler raising it to $72.00, while Keefe, Bruyette & Woods decreased their target to $63.00.
• The company reported earnings of $1.37 EPS for the most recent quarter, surpassing analysts' expectations of $1.36 EPS.

Hancock Whitney (NASDAQ:HWC - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other research analysts also recently weighed in on the stock. Piper Sandler raised their price target on shares of Hancock Whitney from $70.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods downgraded shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and raised their price target for the company from $62.00 to $63.00 in a report on Friday, July 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Hancock Whitney in a report on Wednesday, July 16th. Hovde Group lifted their target price on shares of Hancock Whitney from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Stephens dropped their target price on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three investment 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 company. Based on data from MarketBeat.com, Hancock Whitney presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.71.

Hancock Whitney Trading Down 3.5%

Shares of NASDAQ:HWC opened at $57.64 on Friday. The firm has a fifty day moving average of $57.50 and a two-hundred day moving average of $55.49. The firm has a market capitalization of $4.94 billion, a P/E ratio of 10.62 and a beta of 1.11. Hancock Whitney has a 12-month low of $43.90 and a 12-month high of $62.90. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05.

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

Hedge Funds Weigh In On Hancock Whitney

A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Hancock Whitney by 50.4% during the first quarter. Wellington Management Group LLP now owns 3,057,103 shares of the company's stock worth $160,345,000 after purchasing an additional 1,024,869 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Hancock Whitney by 12.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,089,454 shares of the company's stock worth $109,592,000 after purchasing an additional 235,363 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Hancock Whitney by 6.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,027,364 shares of the company's stock worth $105,139,000 after purchasing an additional 128,860 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Hancock Whitney by 0.4% during the first quarter. American Century Companies Inc. now owns 1,465,661 shares of the company's stock worth $76,874,000 after purchasing an additional 6,315 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Hancock Whitney by 1.1% during the first quarter. AQR Capital Management LLC now owns 1,335,997 shares of the company's stock worth $69,044,000 after purchasing an additional 14,717 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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