Hancock Whitney Co. Expected to Post Q3 2023 Earnings of $1.52 Per Share (NASDAQ:HWC)

Hancock Whitney Co. (NASDAQ:HWCGet Rating) – Stock analysts at Jefferies Financial Group dropped their Q3 2023 earnings per share estimates for Hancock Whitney in a research note issued on Tuesday, January 17th. Jefferies Financial Group analyst C. Haire now expects that the company will post earnings of $1.52 per share for the quarter, down from their prior estimate of $1.57. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.96 per share. Jefferies Financial Group also issued estimates for Hancock Whitney’s Q4 2023 earnings at $1.62 EPS, Q1 2024 earnings at $1.51 EPS, Q2 2024 earnings at $1.50 EPS, Q3 2024 earnings at $1.57 EPS, Q4 2024 earnings at $1.57 EPS and FY2024 earnings at $6.15 EPS.

Several other analysts have also weighed in on the company. Raymond James lowered their price objective on Hancock Whitney from $61.00 to $58.00 and set a “strong-buy” rating for the company in a report on Wednesday. DA Davidson decreased their target price on Hancock Whitney from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com downgraded Hancock Whitney from a “buy” rating to a “hold” rating in a research note on Thursday, October 20th. Finally, Truist Financial decreased their target price on Hancock Whitney from $60.00 to $56.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Hancock Whitney has an average rating of “Moderate Buy” and an average price target of $57.33.

Hancock Whitney Stock Up 2.3 %

Shares of Hancock Whitney stock opened at $48.18 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.13 billion, a P/E ratio of 8.19 and a beta of 1.35. Hancock Whitney has a fifty-two week low of $41.62 and a fifty-two week high of $57.00. The business has a 50-day moving average price of $50.84 and a 200 day moving average price of $49.83.

Hancock Whitney (NASDAQ:HWCGet Rating) last announced its quarterly earnings data on Tuesday, January 17th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.02. The firm had revenue of $375.18 million during the quarter, compared to analyst estimates of $388.47 million. Hancock Whitney had a return on equity of 15.08% and a net margin of 37.70%. Hancock Whitney’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 earnings per share.

Hancock Whitney Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Monday, December 5th were given a dividend of $0.27 per share. The ex-dividend date was Friday, December 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.24%. Hancock Whitney’s dividend payout ratio is presently 18.37%.

Insider Transactions at Hancock Whitney

In other news, insider Joseph S. Exnicios sold 2,540 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $55.57, for a total transaction of $141,147.80. Following the completion of the transaction, the insider now directly owns 21,557 shares in the company, valued at $1,197,922.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Hancock Whitney

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Hancock Whitney during the second quarter worth approximately $27,000. Rockefeller Capital Management L.P. boosted its position in shares of Hancock Whitney by 279.3% during the third quarter. Rockefeller Capital Management L.P. now owns 660 shares of the company’s stock worth $30,000 after buying an additional 486 shares during the period. River Oaks Capital LLC lifted its position in Hancock Whitney by 75.0% in the third quarter. River Oaks Capital LLC now owns 700 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the period. Covestor Ltd lifted its position in Hancock Whitney by 81.0% in the first quarter. Covestor Ltd now owns 760 shares of the company’s stock worth $40,000 after purchasing an additional 340 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Hancock Whitney by 151.1% in the first quarter. Lazard Asset Management LLC now owns 904 shares of the company’s stock worth $47,000 after purchasing an additional 544 shares during the period. 79.09% of the stock is currently owned by institutional investors and hedge funds.

Hancock Whitney Company Profile

(Get Rating)

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 accepts various deposit products, including noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.

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Earnings History and Estimates for Hancock Whitney (NASDAQ:HWC)

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