Q2 2023 EPS Estimates for Hancock Whitney Co. Lifted by Jefferies Financial Group (NASDAQ:HWC)

Posted by Defense World Staff on Apr 24th, 2023

Hancock Whitney Co. (NASDAQ:HWC – Get Rating) – Investment analysts at Jefferies Financial Group raised their Q2 2023 earnings estimates for shares of Hancock Whitney in a research report issued on Wednesday, April 19th. Jefferies Financial Group analyst C. Haire now anticipates that the company will post earnings per share of $1.25 for the quarter, up from their previous estimate of $1.20. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.51 per share. Jefferies Financial Group also issued estimates for Hancock Whitney’s Q3 2023 earnings at $1.17 EPS, FY2023 earnings at $5.20 EPS and FY2024 earnings at $5.25 EPS.

Several other analysts have also recently issued reports on HWC. StockNews.com cut shares of Hancock Whitney from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Sandler cut their price target on shares of Hancock Whitney from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. DA Davidson cut their price target on shares of Hancock Whitney from $58.00 to $46.00 in a report on Friday, March 17th. Truist Financial cut their target price on shares of Hancock Whitney from $56.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, March 23rd. Finally, Raymond James cut their target price on shares of Hancock Whitney from $58.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.56.

Hancock Whitney Trading Down 1.2 %

Shares of HWC stock opened at $36.78 on Monday. Hancock Whitney has a 52-week low of $34.42 and a 52-week high of $57.00. The company has a 50-day simple moving average of $41.64 and a two-hundred day simple moving average of $47.96. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 6.10 and a beta of 1.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.77 and a current ratio of 0.77.

Hancock Whitney (NASDAQ:HWC – Get Rating) last issued its quarterly earnings data on Tuesday, April 18th. The company reported $1.45 earnings per share for the quarter, hitting the consensus estimate of $1.45. Hancock Whitney had a net margin of 32.92% and a return on equity of 15.73%. The company had revenue of $452.93 million for the quarter, compared to analysts’ expectations of $364.87 million. During the same quarter in the previous year, the firm posted $1.40 earnings per share.

Hancock Whitney Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, March 3rd. This is a boost from Hancock Whitney’s previous quarterly dividend of $0.27. Hancock Whitney’s payout ratio is 19.90%.

Insiders Place Their Bets

In other news, insider Cecil W. Knight, Jr. sold 6,675 shares of Hancock Whitney stock in a transaction on Monday, January 30th. The stock was sold at an average price of $50.12, for a total transaction of $334,551.00. Following the transaction, the insider now owns 30,240 shares in the company, valued at approximately $1,515,628.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Hancock Whitney

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in shares of Hancock Whitney by 285.0% during the third quarter. Tower Research Capital LLC TRC now owns 20,271 shares of the company’s stock worth $928,000 after purchasing an additional 15,006 shares in the last quarter. Jennison Associates LLC acquired a new stake in Hancock Whitney in the third quarter valued at approximately $771,000. Alpha DNA Investment Management LLC acquired a new stake in Hancock Whitney in the fourth quarter valued at approximately $1,054,000. Amalgamated Bank raised its holdings in Hancock Whitney by 1.8% in the third quarter. Amalgamated Bank now owns 56,910 shares of the company’s stock valued at $2,607,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Boston Partners acquired a new stake in Hancock Whitney in the third quarter valued at approximately $869,000. 79.09% of the stock is currently owned by hedge funds and other institutional investors.

Hancock Whitney Company Profile

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Hancock Whitney Corp. operates as a bank holding company, which engages in the provision of financial services. It also offers trust and investment management services to retirement plans, corporations, individuals, brokerage services, annuity products, life insurance, general insurance and agency services, including life, title insurance and consumer financing service.