Truist Financial Lowers Hancock Whitney (NASDAQ:HWC) Price Target to $56.00

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

HWC has been the topic of a number of other research reports. Keefe, Bruyette & Woods boosted their price target 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. DA Davidson boosted their price target on shares of Hancock Whitney from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group cut their price target on shares of Hancock Whitney from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Hovde Group boosted their price target on shares of Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler upped their price objective on shares of Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

Hancock Whitney Stock Down 1.6 %

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 company’s 50 day simple moving average is $51.55 and its 200 day simple moving average is $47.61. Hancock Whitney has a 12 month low of $32.16 and a 12 month high of $57.78. The company has a market capitalization of $4.46 billion, a P/E ratio of 11.99 and a beta of 1.26.

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

Insider Transactions at Hancock Whitney

In other news, Director Frank E. Bertucci sold 2,053 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the transaction, the director now owns 22,554 shares in the company, valued at approximately $1,286,254.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HWC. Clifford Capital Partners LLC grew its stake in Hancock Whitney by 12.2% in the 2nd quarter. Clifford Capital Partners LLC now owns 8,434 shares of the company’s stock valued at $403,000 after buying an additional 916 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Hancock Whitney in the 2nd quarter valued at $813,000. Creative Planning grew its stake in Hancock Whitney by 31.2% in the 2nd quarter. Creative Planning now owns 16,241 shares of the company’s stock valued at $777,000 after buying an additional 3,865 shares during the last quarter. Algert Global LLC grew its stake in Hancock Whitney by 47.8% in the 2nd quarter. Algert Global LLC now owns 137,020 shares of the company’s stock valued at $6,554,000 after buying an additional 44,344 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Hancock Whitney by 20.9% in the 2nd quarter. Millennium Management LLC now owns 780,882 shares of the company’s stock valued at $37,350,000 after buying an additional 135,076 shares during the last quarter. Institutional investors and hedge funds own 81.22% of the company’s stock.

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.