Hancock Whitney (NASDAQ:HWC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Hancock Whitney (NASDAQ:HWC) posted its quarterly earnings results on Tuesday. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02, Yahoo Finance reports. The business had revenue of $525.37 million during the quarter, compared to the consensus estimate of $363.54 million. Hancock Whitney had a return on equity of 11.51% and a net margin of 18.63%. During the same period in the prior year, the company posted $1.12 EPS.

Hancock Whitney Trading Down 0.8 %

Shares of NASDAQ HWC opened at $53.32 on Thursday. Hancock Whitney has a fifty-two week low of $32.16 and a fifty-two week high of $57.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 12.43 and a beta of 1.26. The business’s 50 day moving average price is $50.79 and its 200-day moving average price is $48.53.

Hancock Whitney Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. Hancock Whitney’s dividend payout ratio is 37.30%.

Insider Activity at Hancock Whitney

In other news, Director Frank E. Bertucci sold 2,053 shares of Hancock Whitney stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total transaction of $117,082.59. Following the completion of the sale, the director now directly owns 22,554 shares in the company, valued at approximately $1,286,254.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on HWC. Keefe, Bruyette & Woods increased their price objective on shares of Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group cut their price target on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Hovde Group lifted their price objective on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. DA Davidson increased their target price on Hancock Whitney from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Truist Financial decreased their price target on shares of Hancock Whitney from $57.00 to $56.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Hancock Whitney presently has an average rating of “Moderate Buy” and an average price target of $56.89.

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.