Q3 2023 EPS Estimates for Hancock Whitney Co. (NASDAQ:HWC) Boosted by Zacks Research

Posted by Defense World Staff on Sep 8th, 2023

Hancock Whitney Co. (NASDAQ:HWC – Free Report) – Equities research analysts at Zacks Research increased their Q3 2023 earnings per share (EPS) estimates for shares of Hancock Whitney in a research report issued on Tuesday, September 5th. Zacks Research analyst S. Shah now forecasts that the company will post earnings of $1.20 per share for the quarter, up from their previous forecast of $1.18. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.18 per share. Zacks Research also issued estimates for Hancock Whitney’s FY2023 earnings at $5.12 EPS, Q3 2024 earnings at $1.12 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $4.41 EPS.

Other equities analysts also recently issued reports about the stock. Truist Financial raised their price target on shares of Hancock Whitney from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Jefferies Financial Group lowered Hancock Whitney from a “buy” rating to a “hold” rating and dropped their price target for the company from $45.00 to $42.00 in a research report on Tuesday, July 11th. DA Davidson increased their price target on Hancock Whitney from $44.50 to $49.00 in a report on Wednesday, July 19th. Raymond James lowered Hancock Whitney from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $45.00 to $46.00 in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Finally, StockNews.com raised Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.56.

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Hancock Whitney Trading Down 3.0 %

Shares of Hancock Whitney stock opened at $39.47 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.07. Hancock Whitney has a twelve month low of $31.02 and a twelve month high of $57.00. The firm has a market capitalization of $3.40 billion, a PE ratio of 6.58 and a beta of 1.32. The firm’s 50-day moving average price is $41.87 and its 200 day moving average price is $39.91.

Hancock Whitney (NASDAQ:HWC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.34 by $0.01. Hancock Whitney had a return on equity of 15.39% and a net margin of 29.92%. The company had revenue of $359.97 million for the quarter, compared to analyst estimates of $364.50 million. During the same period last year, the company earned $1.38 earnings per share. Hancock Whitney’s quarterly revenue was up 7.8% compared to the same quarter last year.

Hancock Whitney Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.04%. Hancock Whitney’s payout ratio is currently 20.00%.

Insider Activity at Hancock Whitney

In related news, CEO John M. Hairston sold 23,517 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $44.00, for a total transaction of $1,034,748.00. Following the completion of the sale, the chief executive officer now owns 205,369 shares in the company, valued at $9,036,236. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Michael M. Achary sold 12,185 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $42.11, for a total value of $513,110.35. Following the completion of the sale, the chief financial officer now directly owns 39,948 shares of the company’s stock, valued at approximately $1,682,210.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John M. Hairston sold 23,517 shares of Hancock Whitney stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $44.00, for a total value of $1,034,748.00. Following the transaction, the chief executive officer now directly owns 205,369 shares in the company, valued at approximately $9,036,236. The disclosure for this sale can be found here. Insiders have sold 38,704 shares of company stock valued at $1,678,019 over the last quarter. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Hancock Whitney

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Hancock Whitney during the first quarter worth approximately $203,000. Citigroup Inc. boosted its holdings in shares of Hancock Whitney by 8.7% in the first quarter. Citigroup Inc. now owns 32,911 shares of the company’s stock valued at $1,717,000 after acquiring an additional 2,641 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Hancock Whitney by 12.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,980 shares of the company’s stock worth $154,000 after acquiring an additional 329 shares during the period. Acadian Asset Management LLC purchased a new position in Hancock Whitney during the first quarter worth about $783,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Hancock Whitney by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,821 shares of the company’s stock valued at $1,659,000 after purchasing an additional 3,034 shares during the period. 84.45% of the stock is owned by hedge funds and other institutional investors.

About Hancock Whitney

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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 checking and saving accounts including currency exchange and overdraft services; and range of loan products, which includes credit personal and home equity, construction, and term loans, mortgage facilities, credit cards, equipment finance, line of credit, leasing, commercial loan programs, asset based lending services, derivatives, and equipment and litigation finance, as well as new markets tax credit investment including bridge finance.