Hovde Group Forecasts Strong Price Appreciation for Hancock Whitney (NASDAQ:HWC) Stock

Hancock Whitney (NASDAQ:HWC) had its target price boosted by stock analysts at Hovde Group from $65.00 to $72.00 in a report issued on Wednesday, MarketBeat reports. The firm presently has an “outperform” rating on the stock. Hovde Group’s target price points to a potential upside of 19.52% from the stock’s previous close.

HWC has been the topic of a number of other research reports. Stephens reduced their target price on Hancock Whitney from $73.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. DA Davidson reduced their target price on Hancock Whitney from $69.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Raymond James Financial restated a “strong-buy” rating and issued a $62.00 target price (down previously from $72.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods downgraded Hancock Whitney from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $62.00 to $63.00 in a research report on Friday, July 11th. Finally, Piper Sandler restated an “overweight” rating and issued a $70.00 target price (up previously from $68.00) on shares of Hancock Whitney in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.71.

Hancock Whitney Stock Performance

Shares of Hancock Whitney stock opened at $60.24 on Wednesday. Hancock Whitney has a one year low of $43.90 and a one year high of $62.40. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 11.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.79. The business’s 50 day moving average price is $56.61 and its 200 day moving average price is $55.14.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.01. Hancock Whitney had a return on equity of 11.21% and a net margin of 23.28%. The firm had revenue of $377.98 million for the quarter, compared to the consensus estimate of $375.99 million. During the same quarter last year, the business posted $1.31 earnings per share. On average, research analysts predict that Hancock Whitney will post 5.53 EPS for the current year.

Insider Activity

In related news, Director Christine L. Pickering sold 838 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $48.09, for a total value of $40,299.42. Following the sale, the director owned 23,019 shares in the company, valued at approximately $1,106,983.71. The trade was a 3.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Hancock Whitney

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Hancock Whitney in the first quarter valued at approximately $31,000. Versant Capital Management Inc lifted its position in shares of Hancock Whitney by 554.6% during the 1st quarter. Versant Capital Management Inc now owns 707 shares of the company’s stock worth $37,000 after buying an additional 599 shares during the last quarter. Virtus Advisers LLC acquired a new position in shares of Hancock Whitney in the 1st quarter valued at $41,000. Amundi acquired a new position in shares of Hancock Whitney in the 1st quarter valued at $50,000. Finally, UMB Bank n.a. boosted its holdings in shares of Hancock Whitney by 1,132.1% in the 1st quarter. UMB Bank n.a. now owns 998 shares of the company’s stock valued at $52,000 after buying an additional 917 shares in the last quarter. 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.