Truist Financial Increases Hancock Whitney (NASDAQ:HWC) Price Target to $49.00

Hancock Whitney (NASDAQ:HWC) had its price target upped by investment analysts at Truist Financial from $46.00 to $49.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 5.22% from the stock’s previous close.

A number of other research analysts have also weighed in on HWC. DA Davidson raised their target price on shares of Hancock Whitney from $55.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Stephens restated an “equal weight” rating and issued a $50.00 target price on shares of Hancock Whitney in a report on Wednesday, April 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $52.00 price target (down previously from $55.00) on shares of Hancock Whitney in a report on Wednesday, April 17th. Keefe, Bruyette & Woods raised Hancock Whitney from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $50.00 to $55.00 in a research note on Friday, May 31st. Finally, StockNews.com raised Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hancock Whitney has an average rating of “Moderate Buy” and an average target price of $52.50.

Hancock Whitney Stock Performance

HWC opened at $46.57 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 10.86 and a beta of 1.29. The company has a fifty day moving average of $46.40 and a 200 day moving average of $45.31. Hancock Whitney has a fifty-two week low of $32.16 and a fifty-two week high of $49.65.

Hancock Whitney (NASDAQ:HWC) last issued its earnings results on Tuesday, April 16th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. Hancock Whitney had a return on equity of 11.89% and a net margin of 19.07%. The firm had revenue of $354.02 million for the quarter, compared to analysts’ expectations of $353.15 million. As a group, sell-side analysts forecast that Hancock Whitney will post 4.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hancock Whitney news, insider Cecil W. Knight, Jr. sold 844 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the sale, the insider now directly owns 58,843 shares of the company’s stock, valued at approximately $2,755,029.26. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Christine L. Pickering sold 1,300 shares of the firm’s stock in a transaction on 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 owns 23,982 shares in the company, valued at $1,094,058.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cecil W. Knight, Jr. sold 844 shares of Hancock Whitney stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $46.82, for a total value of $39,516.08. Following the completion of the sale, the insider now owns 58,843 shares of the company’s stock, valued at $2,755,029.26. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Hancock Whitney during the fourth quarter valued at approximately $29,000. Mather Group LLC. purchased a new stake in Hancock Whitney during the second quarter worth $37,000. OLD Point Trust & Financial Services N A purchased a new stake in Hancock Whitney during the fourth quarter worth $49,000. Quadrant Capital Group LLC boosted its position in Hancock Whitney by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,260 shares of the company’s stock valued at $61,000 after acquiring an additional 328 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Hancock Whitney by 155.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,714 shares of the company’s stock valued at $83,000 after acquiring an additional 1,044 shares during the period. Hedge funds and other institutional investors own 81.22% of the company’s stock.

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.