Hancock Whitney (NASDAQ:HWC) Stock Price Target Lowered at DA Davidson

Hancock Whitney (NASDAQ:HWC) had its target price lowered by research analysts at DA Davidson from $86.00 to $80.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson‘s price target points to a potential upside of 22.12% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Citigroup cut their price target on shares of Hancock Whitney from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Benchmark boosted their price objective on shares of Hancock Whitney from $84.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Stephens dropped their target price on shares of Hancock Whitney from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Hancock Whitney from $80.00 to $79.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 21st. Finally, Wall Street Zen raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Hancock Whitney presently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Hancock Whitney Trading Up 0.8%

Shares of HWC stock traded up $0.51 on Friday, reaching $65.51. 1,360,956 shares of the company’s stock were exchanged, compared to its average volume of 891,297. Hancock Whitney has a 52 week low of $55.76 and a 52 week high of $80.13. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.21 billion, a PE ratio of 13.18 and a beta of 0.98. The company’s fifty day simple moving average is $73.09 and its 200 day simple moving average is $71.04.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $1.66 EPS for the quarter, meeting the consensus estimate of $1.66. Hancock Whitney had a return on equity of 11.65% and a net margin of 20.51%. The company had revenue of $421.91 million for the quarter, compared to the consensus estimate of $421.75 million. During the same quarter in the prior year, the company posted $1.49 EPS. As a group, analysts forecast that Hancock Whitney will post 6.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Emory L. Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total value of $381,236.00. Following the transaction, the insider directly owned 15,565 shares in the company, valued at approximately $1,189,166. This trade represents a 24.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hancock Whitney

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Emerald Investment Advisers LLC purchased a new stake in Hancock Whitney during the second quarter valued at approximately $3,085,000. Squarepoint Ops LLC increased its position in Hancock Whitney by 84.7% during the 2nd quarter. Squarepoint Ops LLC now owns 384,570 shares of the company’s stock valued at $28,735,000 after buying an additional 176,389 shares in the last quarter. Bank of America Corp DE increased its position in Hancock Whitney by 16.4% during the 1st quarter. Bank of America Corp DE now owns 807,585 shares of the company’s stock valued at $51,354,000 after buying an additional 114,029 shares in the last quarter. Quantinno Capital Management LP raised its stake in Hancock Whitney by 139.9% in the first quarter. Quantinno Capital Management LP now owns 47,921 shares of the company’s stock valued at $3,047,000 after buying an additional 27,942 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in Hancock Whitney in the second quarter valued at about $2,556,000. Hedge funds and other institutional investors own 81.22% of the company’s stock.

Key Hancock Whitney News

Here’s some of the latest news about HWC:

• Neutral Sentiment: The Trustmark acquisition could expand Hancock Whitney’s business, but its ultimate value to shareholders remains uncertain as the companies work through the proposed merger. Article: Hancock Whitney to buy Trustmark in $3.2B deal
• Negative Sentiment: Piper Sandler cut its rating to “neutral” from “overweight” and lowered its price target to $71.50 from $88, signaling reduced confidence in the shares’ outlook. Piper Sandler rating information
• Negative Sentiment: A law firm is investigating whether shareholders are receiving a fair price in the Trustmark transaction, creating an additional source of uncertainty around the deal. Article: HWC Stock Alert shareholder investigation

About Hancock Whitney

Hancock Whitney is a bank holding company headquartered in Gulfport, Mississippi, whose principal subsidiary is Hancock Whitney Bank. The company provides personal and business banking services, including deposit accounts, loans, treasury management, mortgage lending, and online and mobile banking. It also offers wealth management, trust, and investment services. The bank serves customers across the Gulf South, with operations in Mississippi, Louisiana, Alabama, Florida, and Texas. Its history includes roots in Hancock County Bank, founded in Bay St. Louis, Mississippi, in 1899, and Whitney National Bank, established in New Orleans in 1883.