Hancock Whitney (NASDAQ:HWC) Receives Strong-Buy Rating from Raymond James

Hancock Whitney (NASDAQ:HWC)‘s stock had its “strong-buy” rating reaffirmed by Raymond James in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $62.00 target price on the stock, down from their prior target price of $72.00. Raymond James’ price target points to a potential upside of 28.92% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Stephens reduced their target price on Hancock Whitney from $73.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday. DA Davidson dropped their price target on Hancock Whitney from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $70.00 price objective (up previously from $68.00) on shares of Hancock Whitney in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Hancock Whitney from $68.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Hancock Whitney has an average rating of “Moderate Buy” and a consensus target price of $60.56.

Hancock Whitney Stock Down 1.2 %

HWC traded down $0.60 during trading on Wednesday, hitting $48.09. 684,754 shares of the company’s stock were exchanged, compared to its average volume of 578,084. Hancock Whitney has a fifty-two week low of $41.56 and a fifty-two week high of $62.40. The stock has a market cap of $4.14 billion, a P/E ratio of 9.11 and a beta of 0.99. The business’s 50 day moving average is $53.26 and its two-hundred day moving average is $55.13. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. The business had revenue of $367.50 million during the quarter, compared to the consensus estimate of $368.12 million. Hancock Whitney had a return on equity of 11.56% and a net margin of 22.40%. As a group, equities analysts expect that Hancock Whitney will post 5.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hancock Whitney

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Hancock Whitney during the 3rd quarter valued at $305,000. Barclays PLC lifted its stake in shares of Hancock Whitney by 149.2% in the 3rd quarter. Barclays PLC now owns 321,196 shares of the company’s stock valued at $16,435,000 after acquiring an additional 192,295 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Hancock Whitney by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,648 shares of the company’s stock valued at $110,016,000 after acquiring an additional 30,239 shares during the period. Sanctuary Advisors LLC grew its position in Hancock Whitney by 15.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,131 shares of the company’s stock worth $1,030,000 after acquiring an additional 2,741 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Hancock Whitney by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 551,636 shares of the company’s stock worth $28,227,000 after purchasing an additional 96,092 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

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.