Q2 2024 Earnings Estimate for Hancock Whitney Co. Issued By Zacks Research (NASDAQ:HWC)

Hancock Whitney Co. (NASDAQ:HWC) – Research analysts at Zacks Research raised their Q2 2024 earnings estimates for Hancock Whitney in a report released on Thursday, May 23rd. Zacks Research analyst R. Department now anticipates that the company will post earnings of $1.15 per share for the quarter, up from their previous forecast of $1.14. The consensus estimate for Hancock Whitney’s current full-year earnings is $4.91 per share. Zacks Research also issued estimates for Hancock Whitney’s FY2024 earnings at $4.79 EPS, Q3 2025 earnings at $1.27 EPS, FY2025 earnings at $4.95 EPS and FY2026 earnings at $5.30 EPS.

HWC has been the subject of several other research reports. Stephens reissued an “equal weight” rating and set a $50.00 price target on shares of Hancock Whitney in a report on Wednesday, April 17th. Jefferies Financial Group lowered their price target on shares of Hancock Whitney from $51.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, April 8th. StockNews.com upgraded shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Truist Financial lowered their target price on shares of Hancock Whitney from $50.00 to $46.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Finally, DA Davidson boosted their price objective on Hancock Whitney from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.43.

Hancock Whitney Price Performance

Shares of HWC opened at $46.35 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of 10.80 and a beta of 1.31. Hancock Whitney has a 1-year low of $32.16 and a 1-year high of $49.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $45.41 and a two-hundred day simple moving average of $44.59.

Hancock Whitney (NASDAQ:HWC) last posted its earnings results on Tuesday, April 16th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The business had revenue of $354.02 million for the quarter, compared to analysts’ expectations of $353.15 million. Hancock Whitney had a net margin of 19.07% and a return on equity of 11.89%.

Institutional Trading of Hancock Whitney

Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in Hancock Whitney by 22.1% during the first quarter. Cetera Investment Advisers now owns 59,636 shares of the company’s stock worth $2,746,000 after buying an additional 10,810 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in shares of Hancock Whitney during the 1st quarter worth $921,000. Interval Partners LP boosted its position in Hancock Whitney by 25.4% during the first quarter. Interval Partners LP now owns 193,541 shares of the company’s stock valued at $8,911,000 after purchasing an additional 39,180 shares in the last quarter. Stieven Capital Advisors L.P. grew its stake in Hancock Whitney by 60.6% in the first quarter. Stieven Capital Advisors L.P. now owns 357,386 shares of the company’s stock valued at $16,454,000 after purchasing an additional 134,800 shares during the last quarter. Finally, Seven Eight Capital LP raised its holdings in Hancock Whitney by 121.3% in the first quarter. Seven Eight Capital LP now owns 10,483 shares of the company’s stock worth $483,000 after purchasing an additional 5,746 shares in the last quarter. 81.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the transaction, the insider now owns 58,843 shares in the company, valued at $2,755,029.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Cecil W. Knight, Jr. sold 844 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the sale, the insider now owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christine L. Pickering sold 1,300 shares of Hancock Whitney stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $45.62, for a total transaction of $59,306.00. Following the transaction, the director now directly owns 23,982 shares of the company’s stock, valued at $1,094,058.84. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Hancock Whitney Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, June 5th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, June 5th. This is a positive change from Hancock Whitney’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. Hancock Whitney’s dividend payout ratio (DPR) is 27.97%.

Hancock Whitney Company Profile

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 various transaction and savings deposit products consisting of brokered deposits, time deposits, and money market accounts; treasury management services, secured and unsecured loan products including revolving credit facilities, and letters of credit and similar financial guarantees; and trust and investment management services to retirement plans, corporations, and individuals, and investment advisory and brokerage products.