Hancock Whitney (NASDAQ:HWC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Hancock Whitney (NASDAQ:HWC) announced its earnings results on Tuesday. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02, Yahoo Finance reports. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The business had revenue of $525.37 million for the quarter, compared to analyst estimates of $363.54 million. During the same period last year, the firm posted $1.12 earnings per share.

Hancock Whitney Stock Performance

Shares of HWC opened at $53.32 on Thursday. Hancock Whitney has a 12-month low of $32.16 and a 12-month high of $57.78. The stock has a market cap of $4.62 billion, a P/E ratio of 12.43 and a beta of 1.26. 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 company has a 50-day moving average of $50.79 and a two-hundred day moving average of $48.53.

Hancock Whitney Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.60 annualized dividend and a yield of 3.00%. Hancock Whitney’s dividend payout ratio (DPR) is currently 37.30%.

Insider Activity

In other Hancock Whitney news, Director Frank E. Bertucci sold 2,053 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.03, for a total transaction of $117,082.59. Following the completion of the transaction, the director now owns 22,554 shares of the company’s stock, valued at approximately $1,286,254.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

HWC has been the subject of a number of research reports. DA Davidson upped their target price on shares of Hancock Whitney from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group reduced their price objective on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Piper Sandler lifted their target price on Hancock Whitney from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Truist Financial cut their price target on Hancock Whitney from $57.00 to $56.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, Hovde Group lifted their price objective on shares of Hancock Whitney from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.89.

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.