Hancock Whitney (NASDAQ:HWC) Given New $62.00 Price Target at DA Davidson

Hancock Whitney (NASDAQ:HWC - Get Free Report) had its target price lowered by DA Davidson from $69.00 to $62.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price target would indicate a potential upside of 28.92% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Raymond James reiterated a "strong-buy" rating and set a $72.00 price objective (up previously from $64.00) on shares of Hancock Whitney in a report on Wednesday, January 22nd. Stephens lowered their price target on shares of Hancock Whitney from $73.00 to $69.00 and set an "overweight" rating on the stock in a report on Wednesday. StockNews.com raised shares of Hancock Whitney from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $70.00 price target (up from $68.00) on shares of Hancock Whitney in a report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their price objective on Hancock Whitney from $68.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $60.56.

Hancock Whitney Trading Down 1.2 %

HWC stock traded down $0.60 during midday trading on Wednesday, reaching $48.09. 684,754 shares of the company traded hands, compared to its average volume of 578,084. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 9.11 and a beta of 0.99. Hancock Whitney has a 52-week low of $41.56 and a 52-week high of $62.40. The business has a 50 day moving average of $53.26 and a 200-day moving average of $55.13.

Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. Hancock Whitney had a return on equity of 11.56% and a net margin of 22.40%. The company had revenue of $367.50 million during the quarter, compared to analysts' expectations of $368.12 million. As a group, sell-side analysts expect that Hancock Whitney will post 5.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust acquired a new stake in shares of Hancock Whitney during the 4th quarter worth approximately $31,000. Versant Capital Management Inc increased its holdings in Hancock Whitney by 554.6% in the first quarter. Versant Capital Management Inc now owns 707 shares of the company's stock valued at $37,000 after buying an additional 599 shares in the last quarter. R Squared Ltd acquired a new position in shares of Hancock Whitney in the fourth quarter worth about $49,000. UMB Bank n.a. grew its position in shares of Hancock Whitney by 1,132.1% during the 1st quarter. UMB Bank n.a. now owns 998 shares of the company's stock valued at $52,000 after acquiring an additional 917 shares during the period. Finally, GeoWealth Management LLC purchased a new position in shares of Hancock Whitney in the 4th quarter valued at about $65,000. 81.22% of the stock is currently owned by hedge funds and other institutional investors.

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.

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