Zacks: Analysts Anticipate Hancock Whitney Co. (NASDAQ:HWC) Will Announce Quarterly Sales of $328.88 Million

Wall Street analysts expect Hancock Whitney Co. (NASDAQ:HWC – Get Rating) to announce sales of $328.88 million for the current quarter, according to Zacks. Five analysts have made estimates for Hancock Whitney’s earnings. The highest sales estimate is $333.80 million and the lowest is $325.00 million. Hancock Whitney reported sales of $328.92 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Hancock Whitney will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.35 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.44 billion, with estimates ranging from $1.38 billion to $1.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hancock Whitney.

Hancock Whitney (NASDAQ:HWC – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.32 by $0.08. Hancock Whitney had a net margin of 36.08% and a return on equity of 14.18%. The company had revenue of $311.90 million during the quarter, compared to analysts’ expectations of $316.28 million. During the same quarter in the previous year, the company earned $1.21 EPS.

HWC has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Hancock Whitney from $70.00 to $65.00 in a research note on Monday, March 28th. StockNews.com raised shares of Hancock Whitney from a “hold” rating to a “buy” rating in a research note on Tuesday, May 10th. Stephens reduced their price objective on shares of Hancock Whitney from $59.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 20th. Finally, Zacks Investment Research lowered shares of Hancock Whitney from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, March 30th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Hancock Whitney currently has a consensus rating of “Buy” and an average target price of $60.20.

Hancock Whitney stock opened at $47.06 on Thursday. The company’s 50 day simple moving average is $49.81 and its 200 day simple moving average is $51.39. Hancock Whitney has a fifty-two week low of $39.07 and a fifty-two week high of $59.82. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 8.70 and a beta of 1.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.78 and a quick ratio of 0.78.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, June 6th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, June 3rd. Hancock Whitney’s payout ratio is currently 19.96%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Michigan Retirement System lifted its stake in Hancock Whitney by 0.9% in the fourth quarter. State of Michigan Retirement System now owns 21,986 shares of the company’s stock valued at $1,100,000 after buying an additional 200 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of Hancock Whitney by 2.1% in the first quarter. Prospera Financial Services Inc now owns 11,118 shares of the company’s stock worth $580,000 after purchasing an additional 231 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Hancock Whitney by 2.3% in the fourth quarter. Pacer Advisors Inc. now owns 11,928 shares of the company’s stock worth $597,000 after purchasing an additional 264 shares in the last quarter. Amalgamated Bank lifted its position in shares of Hancock Whitney by 0.5% in the fourth quarter. Amalgamated Bank now owns 57,788 shares of the company’s stock worth $2,891,000 after purchasing an additional 289 shares in the last quarter. Finally, Csenge Advisory Group lifted its position in shares of Hancock Whitney by 4.1% in the first quarter. Csenge Advisory Group now owns 7,532 shares of the company’s stock worth $393,000 after purchasing an additional 295 shares in the last quarter. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

About Hancock Whitney (Get Rating)

Hancock Whitney Corporation operates as the bank holding company for Hancock Whitney Bank that provides a range of banking products and services to commercial, small business, and retail customers. It accepts various deposit products, such as noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.

See Also