Hancock Whitney (NASDAQ:HWC) Given New $46.00 Price Target at DA Davidson

Hancock Whitney (NASDAQ:HWC – Get Rating) had its price objective dropped by investment analysts at DA Davidson from $58.00 to $46.00 in a research note issued on Friday, The Fly reports. DA Davidson’s price objective points to a potential upside of 28.42% from the stock’s current price.

Several other research analysts have also recently issued reports on HWC. Truist Financial cut their price objective on Hancock Whitney from $60.00 to $56.00 in a research report on Wednesday, January 18th. StockNews.com started coverage on Hancock Whitney in a research report on Thursday. They issued a “hold” rating for the company. Janney Montgomery Scott cut Hancock Whitney from a “buy” rating to a “neutral” rating and set a $44.50 price objective for the company. in a research report on Tuesday, March 14th. Raymond James cut their price objective on Hancock Whitney from $61.00 to $58.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 18th. Finally, Keefe, Bruyette & Woods cut Hancock Whitney from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $60.00 to $50.00 in a research report on Tuesday, March 14th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.31.

Hancock Whitney Price Performance

Shares of NASDAQ HWC opened at $35.82 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a fifty day moving average price of $48.80 and a 200 day moving average price of $50.04. Hancock Whitney has a 1-year low of $35.51 and a 1-year high of $57.00. The company has a market cap of $3.11 billion, a PE ratio of 5.99 and a beta of 1.35.

Hancock Whitney (NASDAQ:HWC – Get Rating) last issued its quarterly earnings results on Tuesday, January 17th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.02. Hancock Whitney had a return on equity of 15.73% and a net margin of 35.69%. The firm had revenue of $375.18 million during the quarter, compared to the consensus estimate of $388.47 million. During the same period last year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts forecast that Hancock Whitney will post 6.01 EPS for the current year.

Insider Buying and Selling

In related news, insider Cecil W. Knight, Jr. sold 6,675 shares of Hancock Whitney stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $50.12, for a total transaction of $334,551.00. Following the completion of the sale, the insider now owns 30,240 shares in the company, valued at approximately $1,515,628.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Hancock Whitney

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its stake in Hancock Whitney by 279.3% in the 3rd 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 last quarter. River Oaks Capital LLC boosted its stake in Hancock Whitney by 75.0% in the 3rd quarter. River Oaks Capital LLC now owns 700 shares of the company’s stock worth $32,000 after buying an additional 300 shares during the last quarter. Covestor Ltd boosted its stake in Hancock Whitney by 81.0% in the 1st quarter. Covestor Ltd now owns 760 shares of the company’s stock worth $40,000 after buying an additional 340 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Hancock Whitney by 151.1% in the 1st quarter. Lazard Asset Management LLC now owns 904 shares of the company’s stock worth $47,000 after buying an additional 544 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Hancock Whitney in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 79.09% of the company’s stock.

About Hancock Whitney

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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.