Hancock Whitney Co. (NASDAQ:HWC) Expected to Earn Q3 2024 Earnings of $1.25 Per Share

Hancock Whitney Co. (NASDAQ:HWC) – Research analysts at Zacks Research lifted their Q3 2024 EPS estimates for shares of Hancock Whitney in a report released on Tuesday, August 27th. Zacks Research analyst R. Department now expects that the company will post earnings of $1.25 per share for the quarter, up from their prior forecast of $1.22. 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 $1.24 EPS, Q1 2025 earnings at $1.21 EPS, Q2 2025 earnings at $1.24 EPS, Q4 2025 earnings at $1.35 EPS, FY2025 earnings at $5.12 EPS, Q1 2026 earnings at $1.33 EPS, Q2 2026 earnings at $1.32 EPS and FY2026 earnings at $5.35 EPS.

A number of other analysts have also commented on the company. DA Davidson lifted their price target on Hancock Whitney from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Hovde Group lifted their target price on Hancock Whitney from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Citigroup boosted their price target on shares of Hancock Whitney from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 6th. StockNews.com upgraded shares of Hancock Whitney from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, Truist Financial lifted their price objective on shares of Hancock Whitney from $49.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.78.

Hancock Whitney Price Performance

Hancock Whitney stock opened at $53.73 on Thursday. The stock has a market cap of $4.65 billion, a P/E ratio of 12.52 and a beta of 1.29. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $50.40 and its two-hundred day moving average price is $46.80. Hancock Whitney has a 52 week low of $32.16 and a 52 week high of $57.78.

Hancock Whitney (NASDAQ:HWC) last released its quarterly earnings results on Tuesday, July 16th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.11. The business had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $359.11 million. Hancock Whitney had a net margin of 18.63% and a return on equity of 11.51%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share.

Hedge Funds Weigh In On Hancock Whitney

Hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in Hancock Whitney by 31.2% in the 2nd quarter. Creative Planning now owns 16,241 shares of the company’s stock worth $777,000 after purchasing an additional 3,865 shares during the period. Algert Global LLC lifted its holdings in shares of Hancock Whitney by 47.8% in the second quarter. Algert Global LLC now owns 137,020 shares of the company’s stock worth $6,554,000 after buying an additional 44,344 shares in the last quarter. Millennium Management LLC boosted its position in shares of Hancock Whitney by 20.9% in the second quarter. Millennium Management LLC now owns 780,882 shares of the company’s stock valued at $37,350,000 after acquiring an additional 135,076 shares during the period. AQR Capital Management LLC grew its stake in Hancock Whitney by 213.7% during the second quarter. AQR Capital Management LLC now owns 735,790 shares of the company’s stock valued at $34,663,000 after acquiring an additional 501,259 shares in the last quarter. Finally, Interval Partners LP grew its stake in Hancock Whitney by 54.3% during the second quarter. Interval Partners LP now owns 298,716 shares of the company’s stock valued at $14,288,000 after acquiring an additional 105,175 shares in the last quarter. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frank E. Bertucci sold 2,053 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $57.03, for a total value of $117,082.59. Following the sale, the director now 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 SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Hancock Whitney Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 5th. Hancock Whitney’s dividend payout ratio (DPR) is presently 37.30%.

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.