Hancock Whitney Co. (NASDAQ:HWC) to Post FY2024 Earnings of $5.03 Per Share, Zacks Research Forecasts

Hancock Whitney Co. (NASDAQ:HWC) – Zacks Research raised their FY2024 earnings estimates for shares of Hancock Whitney in a report issued on Monday, August 5th. Zacks Research analyst R. Department now anticipates that the company will earn $5.03 per share for the year, up from their prior forecast of $4.78. The consensus estimate for Hancock Whitney’s current full-year earnings is $5.10 per share. Zacks Research also issued estimates for Hancock Whitney’s Q4 2024 earnings at $1.22 EPS and FY2025 earnings at $5.08 EPS.

Hancock Whitney (NASDAQ:HWC) last issued its earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.11. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The company had revenue of $359.60 million for the quarter, compared to analyst estimates of $359.11 million. During the same quarter last year, the firm earned $1.35 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis.

Several other equities research analysts also recently commented on the stock. Truist Financial upped their target price on shares of Hancock Whitney from $49.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Hovde Group raised their price objective on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on Hancock Whitney from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Piper Sandler raised their price target on Hancock Whitney from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group decreased their price objective on Hancock Whitney from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Hancock Whitney currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $48.71 on Wednesday. The firm has a fifty day moving average of $48.68 and a two-hundred day moving average of $46.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 11.35 and a beta of 1.29. Hancock Whitney has a 52 week low of $32.16 and a 52 week high of $57.78.

Hedge Funds Weigh In On Hancock Whitney

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Hancock Whitney during the 4th quarter worth approximately $46,846,000. Victory Capital Management Inc. boosted its stake in Hancock Whitney by 707.2% in the second quarter. Victory Capital Management Inc. now owns 576,264 shares of the company’s stock valued at $27,563,000 after buying an additional 504,873 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hancock Whitney by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,749,591 shares of the company’s stock valued at $230,786,000 after purchasing an additional 249,944 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Hancock Whitney by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 1,401,113 shares of the company’s stock valued at $67,015,000 after acquiring an additional 237,526 shares during the last quarter. Finally, Stieven Capital Advisors L.P. boosted its stake in shares of Hancock Whitney by 60.6% during 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 in the last quarter. 81.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hancock Whitney news, Director Frank E. Bertucci sold 2,053 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $57.03, for a total transaction of $117,082.59. Following the sale, the director now directly owns 22,554 shares of the company’s stock, valued at $1,286,254.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hancock Whitney Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, September 5th. Hancock Whitney’s dividend payout ratio is presently 37.30%.

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.