Hancock Whitney Co. (NASDAQ:HWC) to Post Q1 2024 Earnings of $1.14 Per Share, Zacks Research Forecasts

Hancock Whitney Co. (NASDAQ:HWC) – Research analysts at Zacks Research lifted their Q1 2024 earnings estimates for Hancock Whitney in a note issued to investors on Tuesday, March 26th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $1.14 for the quarter, up from their previous estimate of $1.12. The consensus estimate for Hancock Whitney’s current full-year earnings is $4.78 per share. Zacks Research also issued estimates for Hancock Whitney’s Q2 2024 earnings at $1.12 EPS, Q3 2024 earnings at $1.18 EPS, Q2 2025 earnings at $1.23 EPS, Q4 2025 earnings at $1.30 EPS and FY2025 earnings at $5.01 EPS.

Hancock Whitney (NASDAQ:HWC) last issued its earnings results on Tuesday, January 16th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $308.41 million for the quarter, compared to analysts’ expectations of $355.51 million. Hancock Whitney had a return on equity of 12.54% and a net margin of 20.57%. During the same period in the previous year, the firm posted $1.65 earnings per share.

HWC has been the topic of a number of other reports. Piper Sandler upped their price objective on Hancock Whitney from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Citigroup initiated coverage on shares of Hancock Whitney in a research report on Friday, December 1st. They set a “neutral” rating and a $45.00 price objective on the stock. StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Saturday, March 23rd. Stephens decreased their price objective on shares of Hancock Whitney from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. Finally, Raymond James upped their target price on Hancock Whitney from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.88.

Hancock Whitney Price Performance

HWC stock opened at $45.73 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. Hancock Whitney has a 52 week low of $31.02 and a 52 week high of $49.65. The company has a fifty day simple moving average of $43.96 and a two-hundred day simple moving average of $41.74. The firm has a market capitalization of $3.96 billion, a P/E ratio of 10.16 and a beta of 1.32.

Institutional Trading of Hancock Whitney

Several institutional investors have recently bought and sold shares of HWC. American Century Companies Inc. lifted its stake in Hancock Whitney by 13.1% in the 3rd quarter. American Century Companies Inc. now owns 832,405 shares of the company’s stock valued at $30,791,000 after buying an additional 96,522 shares in the last quarter. Deutsche Bank AG raised its stake in Hancock Whitney by 4.2% in the 3rd quarter. Deutsche Bank AG now owns 122,077 shares of the company’s stock valued at $4,516,000 after purchasing an additional 4,886 shares during the last quarter. Channing Capital Management LLC lifted its holdings in Hancock Whitney by 16.0% in the 3rd quarter. Channing Capital Management LLC now owns 1,407,511 shares of the company’s stock valued at $52,064,000 after purchasing an additional 194,100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hancock Whitney by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,039,436 shares of the company’s stock worth $38,449,000 after purchasing an additional 14,625 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its holdings in shares of Hancock Whitney by 5.8% during the third quarter. Great Lakes Advisors LLC now owns 443,036 shares of the company’s stock worth $16,388,000 after buying an additional 24,290 shares in the last quarter. 81.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hancock Whitney

In other news, COO D Shane Loper sold 17,690 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $46.81, for a total value of $828,068.90. Following the sale, the chief operating officer now directly owns 71,148 shares of the company’s stock, valued at approximately $3,330,437.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christopher S. Ziluca sold 3,636 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $43.50, for a total transaction of $158,166.00. Following the sale, the insider now owns 35,285 shares of the company’s stock, valued at approximately $1,534,897.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO D Shane Loper sold 17,690 shares of Hancock Whitney stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $46.81, for a total transaction of $828,068.90. Following the transaction, the chief operating officer now directly owns 71,148 shares of the company’s stock, valued at $3,330,437.88. The disclosure for this sale can be found here. Insiders sold a total of 35,225 shares of company stock worth $1,634,014 over the last three months. 1.10% of the stock is currently owned by insiders.

Hancock Whitney Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, March 4th. Hancock Whitney’s dividend payout ratio is presently 26.67%.

About Hancock Whitney

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.