Hancock Whitney (NASDAQ:HWC) PT Lowered to $56.00 at Truist Financial

Hancock Whitney (NASDAQ:HWC) had its price target lowered by research analysts at Truist Financial from $57.00 to $56.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 8.89% from the company’s current price.

A number of other equities analysts also recently commented on the stock. DA Davidson raised their price objective on shares of Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group reduced their price objective on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Hovde Group raised their price objective on shares of Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised their price objective on shares of Hancock Whitney from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hancock Whitney has an average rating of “Moderate Buy” and an average price target of $56.67.

Hancock Whitney Stock Performance

NASDAQ HWC opened at $51.43 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 11.99 and a beta of 1.26. The company’s fifty day moving average is $51.55 and its two-hundred day moving average is $47.61. Hancock Whitney has a 52-week low of $32.16 and a 52-week high of $57.78.

Hancock Whitney (NASDAQ:HWC) last posted its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.11. The company had revenue of $359.60 million for the quarter, compared to analyst estimates of $359.11 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. Equities research analysts forecast that Hancock Whitney will post 5.17 EPS for the current year.

Insiders Place Their Bets

In other Hancock Whitney news, Director Frank E. Bertucci sold 2,053 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the completion of the transaction, the director now directly owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Hancock Whitney

A number of institutional investors have recently modified their holdings of HWC. Rafferty Asset Management LLC grew its position in shares of Hancock Whitney by 72.6% during the 4th quarter. Rafferty Asset Management LLC now owns 151,333 shares of the company’s stock worth $7,353,000 after buying an additional 63,641 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Hancock Whitney during the 1st quarter worth approximately $1,159,000. Wasatch Advisors LP grew its position in shares of Hancock Whitney by 3.7% during the 4th quarter. Wasatch Advisors LP now owns 710,251 shares of the company’s stock worth $34,511,000 after buying an additional 25,215 shares during the period. BNP Paribas Financial Markets grew its position in shares of Hancock Whitney by 96.6% during the 1st quarter. BNP Paribas Financial Markets now owns 51,361 shares of the company’s stock worth $2,365,000 after buying an additional 25,241 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Hancock Whitney by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 9,226,780 shares of the company’s stock worth $424,801,000 after buying an additional 34,152 shares during the period. 81.22% of the stock is owned by 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.