HWC's balance sheet deleveraging strategy and a shift in loan portfolio alongside potential interest rate cuts make it a lucrative pick for investors.
Hancock Whitney (HWC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Shares of Southern lender Hancock Whitney have done well since my last update in June, matching regional bank peers with a circa 19% total return. Q2 results look solid. Funding cost pressures have now dissipated, asset quality remains robust, and the bank has resumed share repurchases as expected. These shares are a little more expensive now, but relatively modest assumptions regarding growth and profitability can still drive double-digit upside from the current price.
Hancock Whitney's (HWC) second-quarter earnings beat estimates on the back of higher non-interest income. However, higher costs and provisions, along with a lower NII, remain spoilsports.
Hancock Whitney Corporation (NASDAQ:HWC ) Q2 2024 Earnings Conference Call July 16, 2024 4:30 PM ET Company Participants Kathryn Mistich - Investor Relations Manager John Hairston - President & Chief Executive Officer Mike Achary - Chief Financial Officer Chris Ziluca - Chief Credit Officer Conference Call Participants Catherine Mealor - KBW Michael Rose - Raymond James Casey Haire - Jefferies Brandon King - Truist Securities Ben Gerlinger - Citi Brett Rabatin - Hovde Group Stephen Scouten - Piper Sandler Gary Tenner - D.A. Davidson Matt Olney - Stephens Christopher Marinac - Jamie Montgomery Scott Operator Good day, ladies and gentlemen, and welcome to Hancock Whitney Corporation Second Quarter 2024 Earnings Conference Call.
Although the revenue and EPS for Hancock Whitney (HWC) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Hancock Whitney (HWC) came out with quarterly earnings of $1.31 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.35 per share a year ago.
Get a deeper insight into the potential performance of Hancock Whitney (HWC) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
Hancock Whitney (HWC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Hancock Whitney's stock has seen upside of 17.8% since being rated a 'buy' in June 2023. The bank's balance sheet has improved, with increased deposits and loans, but there have been weaknesses in revenue and profit. Shares are slightly cheap compared to similar banks, but there are cheaper options available. The overall outlook for the company is positive.
Hancock Whitney Corporation (HWC), Donaldson Company, Inc. (DCI), Royal Bank of Canada (RY) and NetApp, Inc. (NTAP) recently announced dividend hikes.
Shares of Hancock Whitney Corporation have modestly outperformed peers since my last update, as funding cost headwinds continue to ease and attention turns to the bank's strong capital position. Buybacks look poised to resume soon, with the bank needing to ramp up capital returns if it is to avoid accumulating more surplus capital. These shares continue to look modestly valued at around 1.35x tangible book value, with this implying a P/E of less than 10x consensus 2024 EPS.