Hancock Whitney (NASDAQ:HWC) Price Target Cut to $62.00 by Analysts at Keefe, Bruyette & Woods

Hancock Whitney (NASDAQ:HWC) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $68.00 to $62.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 27.44% from the company’s current price.

Several other research firms have also commented on HWC. StockNews.com raised shares of Hancock Whitney from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Raymond James reissued a “strong-buy” rating and issued a $72.00 price target (up from $64.00) on shares of Hancock Whitney in a research report on Wednesday, January 22nd. Finally, Stephens reduced their price objective on Hancock Whitney from $73.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.56.

Hancock Whitney Trading Up 0.3 %

HWC opened at $48.65 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Hancock Whitney has a 52 week low of $42.51 and a 52 week high of $62.40. The stock has a market cap of $4.19 billion, a PE ratio of 9.21 and a beta of 0.99. The business has a 50 day moving average of $52.81 and a 200-day moving average of $55.07.

Hancock Whitney (NASDAQ:HWC) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. The business had revenue of $367.50 million during the quarter, compared to analyst estimates of $368.12 million. Hancock Whitney had a return on equity of 11.56% and a net margin of 22.40%. Equities research analysts predict that Hancock Whitney will post 5.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HWC. Norges Bank purchased a new stake in shares of Hancock Whitney during the fourth quarter valued at $54,605,000. Silvercrest Asset Management Group LLC bought a new position in Hancock Whitney during the 4th quarter valued at about $24,775,000. Point72 Asset Management L.P. purchased a new stake in shares of Hancock Whitney during the 4th quarter valued at about $13,796,000. Foundry Partners LLC bought a new stake in shares of Hancock Whitney in the fourth quarter worth approximately $12,937,000. Finally, Barclays PLC raised its holdings in shares of Hancock Whitney by 69.5% during the fourth quarter. Barclays PLC now owns 544,471 shares of the company’s stock valued at $29,795,000 after purchasing an additional 223,275 shares during the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.

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.