Hancock Whitney (NASDAQ:HWC) Price Target Lowered to $86.00 at Citigroup

by · The Markets Daily

Hancock Whitney (NASDAQ:HWC – Get Free Report) had its price objective decreased by Citigroup from $87.00 to $86.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 15.29% from the stock’s previous close.

Several other research firms also recently weighed in on HWC. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 target price on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Hovde Group downgraded shares of Hancock Whitney from an “outperform” rating to a “market perform” rating and set a $74.00 price target for the company. in a research note on Friday, June 12th. Weiss Ratings upgraded Hancock Whitney from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Wall Street Zen raised Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Zacks Research downgraded shares of Hancock Whitney from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.22.

Get Our Latest Report on HWC

Hancock Whitney Stock Performance

Shares of NASDAQ:HWC opened at $74.59 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day moving average price is $76.34 and its 200-day moving average price is $70.81. The firm has a market capitalization of $5.98 billion, a PE ratio of 14.59 and a beta of 0.94. Hancock Whitney has a 1 year low of $54.05 and a 1 year high of $80.13.

Hancock Whitney (NASDAQ:HWC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. The business had revenue of $403.57 million during the quarter, compared to the consensus estimate of $398.89 million. During the same quarter last year, the firm earned $1.37 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Hancock Whitney will post 6.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Emory L. Mayfield, Jr. sold 4,990 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $76.40, for a total transaction of $381,236.00. Following the completion of the transaction, the insider owned 15,565 shares of the company’s stock, valued at $1,189,166. This represents a 24.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael M. Achary sold 22,694 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $76.18, for a total transaction of $1,728,828.92. Following the completion of the sale, the chief financial officer directly owned 44,160 shares in the company, valued at $3,364,108.80. This represents a 33.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Hancock Whitney

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Hancock Whitney by 8.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,909 shares of the company’s stock worth $143,000 after purchasing an additional 147 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Hancock Whitney by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 24,457 shares of the company’s stock worth $1,555,000 after purchasing an additional 153 shares during the period. BTC Capital Management Inc. grew its stake in shares of Hancock Whitney by 1.9% during the 1st quarter. BTC Capital Management Inc. now owns 8,472 shares of the company’s stock worth $539,000 after acquiring an additional 162 shares during the period. Hilton Head Capital Partners LLC boosted its position in Hancock Whitney by 31.0% during the first quarter. Hilton Head Capital Partners LLC now owns 719 shares of the company’s stock worth $46,000 after purchasing an additional 170 shares during the period. Finally, IFP Advisors Inc grew its stake in Hancock Whitney by 26.0% in the 2nd quarter. IFP Advisors Inc now owns 852 shares of the company’s stock valued at $64,000 after buying an additional 176 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors and hedge funds.

About Hancock Whitney

(Get Free Report)

Hancock Whitney Corporation is a financial services company headquartered in Gulfport, Mississippi, and the parent company of Hancock Whitney Bank. The bank provides banking and financial services to individuals, families, businesses and institutions across the Gulf South.

Its offerings include personal and business deposit accounts, consumer and commercial loans, residential and commercial real estate financing, treasury management, online and mobile banking, investment services and wealth management.

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