Core Viewpoint - Analysts project Hancock Whitney (HWC) will report quarterly earnings of $1.34 per share, a 2.3% increase year over year, with revenues expected to reach $371.26 million, up 3.2% from the same quarter last year [1]. Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions to the stock, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock price performance [2]. Key Metrics Projections - Analysts expect the 'Net interest margin (TE)' to be 3.5%, up from 3.4% in the same quarter last year [4]. - The 'Efficiency Ratio' is projected at 55.9%, compared to 56.2% a year ago [4]. - 'Average Balance - Total interest earning assets' is expected to reach $32.05 billion, down from $32.54 billion in the same quarter last year [5]. - 'Total nonperforming loans' are estimated at $106.46 million, up from $86.25 million a year ago [5]. - 'Total nonperforming assets' are projected to be $138.95 million, compared to $88.37 million in the same quarter last year [6]. - 'Total Noninterest Income' is forecasted at $96.84 million, up from $89.17 million a year ago [6]. - 'Net interest income (TE)' is expected to reach $278.55 million, compared to $273.26 million in the same quarter last year [7]. - 'Bank card and ATM fees' are estimated at $21.14 million, down from $21.83 million a year ago [8]. - 'Investment and annuity fees and insurance commissions' are projected at $10.47 million, up from $9.79 million last year [9]. - 'Other income' is expected to be $15.64 million, compared to $13.26 million a year ago [9]. Stock Performance - Hancock Whitney shares have increased by 11.6% in the past month, outperforming the Zacks S&P 500 composite's 4.4% increase, with a Zacks Rank 2 (Buy) indicating expected outperformance in the near term [10].

Group 1 - Hancock Whitney Corporation is set to release its second-quarter earnings results on July 15, with expected earnings of $1.36 per share, an increase from $1.31 per share in the same period last year [1] - The company is projected to report quarterly revenue of $376.07 million, compared to $362.43 million a year earlier [1] - Hancock Whitney shareholders elected Chevron Corporation executive Albert J. Williams to the board of directors during the annual shareholder meeting on April 23 [2] Group 2 - Hancock Whitney shares increased by 1.4%, closing at $60.77 [2] - Analysts have provided various ratings and price targets for Hancock Whitney, with DA Davidson maintaining a Buy rating and reducing the price target from $69 to $62 [5] - Raymond James reiterated a Strong Buy rating while lowering the price target from $72 to $62 [5] - Keefe, Bruyette & Woods maintained an Outperform rating and cut the price target from $68 to $62 [5] - Piper Sandler raised the price target from $68 to $70 while maintaining an Overweight rating [5] - Stephens & Co. maintained an Overweight rating and reduced the price target from $73 to $69 [5]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Hancock Whitney (HWC) - Hancock Whitney currently holds a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, HWC shares increased by 5.93%, outperforming the Zacks Banks - Southeast industry, which rose by 4.73% [5] - In a longer timeframe, HWC shares have risen by 25.87% over the past three months and 31.73% over the past year, compared to the S&P 500's gains of 23.56% and 13.28%, respectively [6] Trading Volume - HWC's average 20-day trading volume is 674,392 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the last two months, two earnings estimates for HWC have been revised upwards, increasing the consensus estimate from $5.51 to $5.53 [9] - For the next fiscal year, two estimates have also moved higher, with no downward revisions noted [9] Conclusion - Given the positive momentum indicators and earnings outlook, HWC is positioned as a strong buy candidate for investors seeking short-term opportunities [11]

Core Viewpoint - Hancock Whitney Corporation (HWC) is identified as a potential stock pick due to a recent "golden cross" event, indicating a bullish trend from a technical perspective [1]. Technical Analysis - A "golden cross" occurs when a short-term moving average, typically the 50-day, crosses above a long-term moving average, such as the 200-day, suggesting a potential bullish breakout [2]. - The formation of a golden cross involves three stages: a downtrend that bottoms out, the crossover of moving averages, and a subsequent upward price movement [3]. - The golden cross is contrasted with a "death cross," which indicates potential bearish momentum [3]. Performance Metrics - HWC has seen an 11.8% increase in stock price over the past four weeks, indicating positive momentum [4]. - The company currently holds a 3 (Hold) rating on the Zacks Rank, suggesting it may be positioned for further breakout [4]. Earnings Outlook - HWC's earnings outlook is positive, with three upward revisions in earnings estimates over the past 60 days, compared to no downward revisions [4]. - The Zacks Consensus Estimate for HWC has also increased, reinforcing the bullish sentiment around the stock [4][5].

Company Overview - Hancock Whitney (HWC) is based in Gulfport and operates in the Finance sector, with a year-to-date share price change of -2.7% [3] - The company currently pays a dividend of $0.45 per share, resulting in a dividend yield of 3.38%, which is higher than the Banks - Southeast industry's yield of 2.41% and the S&P 500's yield of 1.56% [3] Dividend Performance - Hancock Whitney's annualized dividend of $1.80 has increased by 20% from the previous year [4] - Over the past five years, the company has raised its dividend twice on a year-over-year basis, achieving an average annual increase of 9.80% [4] - The current payout ratio is 33%, indicating that the company distributes 33% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for Hancock Whitney's earnings per share for 2025 is $5.51, reflecting a year-over-year growth rate of 3.57% [5] Investment Considerations - HWC is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7]

Company Overview - Hancock Whitney Corporation is a bank and financial holding company based in Gulfport, MS, operating through 180 full-service bank branches and 223 ATMs across Mississippi, Alabama, Louisiana, Florida, and Texas [11] - The company also has loan and deposit production offices in Nashville, TN, and Atlanta, GA [11] Investment Analysis - Hancock Whitney has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a moderate investment potential [12] - The company has a Momentum Style Score of B, with shares increasing by 7.3% over the past four weeks [12] - Six analysts have revised their earnings estimates higher for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.12 to $5.51 per share [12] - Hancock Whitney has an average earnings surprise of 7.2%, suggesting a positive trend in earnings performance [12] Conclusion - With a solid Zacks Rank and strong Momentum and VGM Style Scores, Hancock Whitney is recommended for investors' consideration [13]

Part I. Financial Information This section presents the company's financial statements, management's discussion and analysis, market risk disclosures, and internal controls [Financial Statements](index=5&type=section&id=ITEM%201.%20Financial%20Statements) The company's Q1 2025 financial statements reflect increased net income, a slight decrease in total assets, and growth in stockholders' equity Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Total Loans, net | $22,780,027 | $22,980,565 | | Total Assets | $34,750,680 | $35,081,785 | | Total Deposits | $29,194,733 | $29,492,851 | | Total Liabilities | $30,472,008 | $30,954,149 | | Total Stockholders' Equity | $4,278,672 | $4,127,636 | Consolidated Income Statement Highlights (in thousands) | Account | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Net Interest Income | $269,905 | $266,171 | | Provision for Credit Losses | $10,462 | $12,968 | | Total Noninterest Income | $94,791 | $87,851 | | Total Noninterest Expense | $205,059 | $207,722 | | Net Income | $119,504 | $108,612 | | Diluted EPS | $1.38 | $1.24 | - Comprehensive income was **$210.6 million** for Q1 2025, a significant increase from **$76.2 million** in Q1 2024, primarily driven by a **$91.1 million** positive change in other comprehensive income, net of tax, compared to a **$32.4 million** loss in the prior-year period[17](index=17&type=chunk) - Cash flow from operating activities was **$104.2 million**, a decrease from **$166.7 million** in Q1 2024. Net cash from investing activities was **$291.2 million**, while financing activities used **$460.0 million**, largely due to a net decrease in deposits and common stock repurchases[23](index=23&type=chunk) [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed insights into accounting policies, securities portfolio, loan quality, derivative usage, share repurchases, and regulatory assessments - The company's securities portfolio is primarily investment grade. As of March 31, 2025, securities available for sale (AFS) had a fair value of **$5.33 billion** with gross unrealized losses of **$524.7 million**. Securities held to maturity (HTM) had an amortized cost of **$2.36 billion** with gross unrealized losses of **$166.1 million**. No allowance for credit loss was recorded for securities as losses were deemed non-credit related[32](index=32&type=chunk)[33](index=33&type=chunk)[44](index=44&type=chunk) Allowance for Credit Losses (ACL) Activity - Q1 2025 (in thousands) | ACL Component | Beginning Balance (Dec 31, 2024, in thousands) | Provision (in thousands) | Net Charge-offs (in thousands) | Ending Balance (Mar 31, 2025, in thousands) | | :--- | :--- | :--- | :--- | :--- | | Allowance for Loan Losses | $318,882 | $9,484 | ($10,247) | $318,119 | | Reserve for Unfunded Commitments | $24,053 | $978 | N/A | $25,031 | | **Total ACL** | **$342,935** | **$10,462** | **($10,247)** | **$343,150** | - Nonaccrual loans increased to **$104.2 million** at March 31, 2025, from **$97.3 million** at December 31, 2024. Total reportable modified loans to borrowers experiencing financial difficulty (MEFDs) were **$95.6 million**[63](index=63&type=chunk) - The company uses various derivative instruments for hedging and customer purposes, with a total notional amount of **$7.27 billion** at March 31, 2025. This includes **$1.5 billion** in cash flow hedges and **$477.5 million** in fair value hedges[86](index=86&type=chunk) - The company repurchased **350,000 shares** of its common stock at an average cost of **$59.28 per share** during Q1 2025 under a new buyback program authorized for up to **4.3 million shares** through December 2026[110](index=110&type=chunk) - To date, the company has expensed **$29.7 million** related to the FDIC special assessment to recover losses from the 2023 bank failures. The final exposure remains unknown until the FDIC terminates the receiverships[140](index=140&type=chunk)[141](index=141&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2025 performance, highlighting net income, expanded net interest margin, stable credit quality, improved capital ratios, and updated full-year guidance - The economic outlook is influenced by the new administration's tariff policies, creating cost pressures and uncertainty. The March 2025 Moody's baseline forecast assumes modest GDP growth and **two 25 bp rate cuts** in late 2025. Management has weighted the more pessimistic S-2 mild recession scenario at **60%** for its ACL calculation[184](index=184&type=chunk)[187](index=187&type=chunk)[189](index=189&type=chunk) Q1 2025 Key Performance Metrics | Metric | Q1 2025 | Q4 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income (millions) | $119.5 | $122.1 | ($2.6) | | Diluted EPS | $1.38 | $1.40 | ($0.02) | | Net Interest Margin (te) | 3.43% | 3.41% | +2 bps | | ACL / Total Loans | 1.49% | 1.47% | +2 bps | | CET1 Ratio | 14.48% | 14.14% | +34 bps | | Efficiency Ratio (non-GAAP) | 55.22% | 54.46% | +76 bps | - Full-year 2025 guidance was updated: Net interest income (te) is expected to be **up 3% to 4%** compared to 2024. Noninterest income is expected to be **up 9% to 10%**, including the impact of the Sabal Trust Company acquisition. Adjusted noninterest expense is expected to be **up 4% to 5%**[203](index=203&type=chunk)[224](index=224&type=chunk)[237](index=237&type=chunk) [Results of Operations](index=58&type=section&id=Results%20of%20Operations) Q1 2025 results show stable net interest income, a lower provision for credit losses, growth in noninterest income, and a slight increase in noninterest expense - Net interest margin (NIM) increased to **3.43%** in Q1 2025, **up 2 bps** from Q4 2024 and **11 bps** from Q1 2024. The improvement was driven by lower deposit costs and a more favorable funding mix, which offset lower loan yields[201](index=201&type=chunk)[202](index=202&type=chunk) - The provision for credit losses was **$10.5 million**, a decrease from **$11.9 million** in Q4 2024. Annualized net charge-offs were **0.18%** of average loans, down from **0.20%** in the prior quarter[207](index=207&type=chunk)[208](index=208&type=chunk) - Noninterest income rose to **$94.8 million**, **up 4% QoQ**, with notable increases in secondary mortgage market operations (**+$0.9M**) and other miscellaneous income (**+$0.7M**)[210](index=210&type=chunk)[217](index=217&type=chunk)[222](index=222&type=chunk) - Noninterest expense increased to **$205.1 million**, **up 1% QoQ**. The increase was driven by a **$2.6 million** swing in ORE expense (from gain to loss) and a **$1.2 million** increase in deposit insurance fees, partially offset by lower personnel-related costs[225](index=225&type=chunk)[227](index=227&type=chunk) [Balance Sheet Analysis](index=72&type=section&id=Balance%20Sheet%20Analysis) Balance sheet analysis reveals a decrease in total loans and deposits, an increase in the securities portfolio, and stable noninterest-bearing deposits - Total loans **decreased by 1% QoQ** to **$23.1 billion**. The decline was led by a **$251.0 million (2%)** drop in Commercial & Industrial loans due to increased payoffs. Management forecasts low single-digit loan growth for the full year 2025[268](index=268&type=chunk)[271](index=271&type=chunk)[276](index=276&type=chunk) - Total deposits **decreased by 1% QoQ** to **$29.2 billion**. The decline was driven by a **$208.2 million** decrease in interest-bearing public funds and a **$192.1 million** decrease in retail time deposits. Management expects low single-digit deposit growth for the full year 2025[293](index=293&type=chunk)[295](index=295&type=chunk)[299](index=299&type=chunk) - The securities portfolio **increased by $97.8 million** to **$7.7 billion**, primarily due to a **$102.1 million** favorable fair value adjustment on the AFS portfolio. The portfolio's effective duration is **4.04 years**[264](index=264&type=chunk)[265](index=265&type=chunk) [Allowance for Credit Losses and Asset Quality](index=75&type=section&id=Allowance%20for%20Credit%20Losses%20and%20Asset%20Quality) The ACL ratio slightly increased, while criticized commercial loans decreased and nonaccrual loans remained low, indicating stable asset quality - The ACL to total loans ratio **increased slightly to 1.49%** from **1.47%** at year-end 2024, reflecting continued caution given the economic outlook[277](index=277&type=chunk)[280](index=280&type=chunk) - Criticized commercial loans **fell by 5% QoQ** to **$594.1 million**, representing **3.35%** of the commercial portfolio, down from **3.47%**[281](index=281&type=chunk) - Nonaccrual loans plus ORE and foreclosed assets increased to **$130.9 million** from **$125.1 million** in the prior quarter. The ratio of nonaccrual loans to total loans remains low at **0.45%**[287](index=287&type=chunk) [Liquidity and Capital Resources](index=68&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains robust liquidity and capital, with strong regulatory ratios, increased dividends, and ongoing share repurchases Available Liquidity as of March 31, 2025 (in billions) | Source | Net Availability (in billions) | | :--- | :--- | | Free securities | $4.5 | | Federal Home Loan Bank | $5.2 | | Federal Reserve Bank | $3.4 | | Brokered deposits | $4.4 | | Other | $1.2 | | Cash and equivalents | $1.4 | | **Total Liquidity** | **$20.0** | Key Capital Ratios | Ratio | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | CET1 Ratio | 14.48% | 14.14% | | Tier 1 Leverage Ratio | 11.55% | 11.29% | | Tangible Common Equity (TCE) Ratio | 10.01% | 9.47% | - The board of directors **increased the quarterly common stock dividend by 13%** to **$0.45 per share**[260](index=260&type=chunk) - During Q1 2025, the company repurchased **350,000 shares** at an average price of **$59.28 per share** under its new **4.3 million share** repurchase authorization[261](index=261&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=61&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate sensitivity, with NII and EVE impacted by rate changes, mitigated through various management strategies Net Interest Income (NII) Sensitivity at March 31, 2025 | Rate Change (bps) | Estimated Change in Year 1 NII | Estimated Change in Year 2 NII | | :--- | :--- | :--- | | -200 | -4.64% | -10.19% | | -100 | -2.15% | -4.81% | | +100 | 2.02% | 4.35% | | +200 | 3.88% | 8.40% | Economic Value of Equity (EVE) Sensitivity at March 31, 2025 | Rate Change (bps) | Estimated Change in EVE | | :--- | :--- | | -100 | 2.00% | | +100 | -2.57% | | +200 | -5.41% | [Controls and Procedures](index=63&type=section&id=Item%204.%20Controls%20and%20Procedures) Management confirmed the effectiveness of disclosure controls and procedures, with no material changes to internal controls over financial reporting - The CEO and CFO concluded that as of March 31, 2025, the company's disclosure controls and procedures were **effective**[322](index=322&type=chunk) - No changes in internal control over financial reporting occurred during the first quarter of 2025 that have materially affected, or are reasonably likely to materially affect, internal controls[323](index=323&type=chunk) Part II. Other Information This section covers legal proceedings, risk factors, equity sales, other disclosures, and exhibits [Legal Proceedings](index=64&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, with no expected material adverse effects on financial position or liquidity - The company is party to various legal proceedings arising in the ordinary course of business, but management does not believe any loss contingencies will have a **material adverse effect** on the company's financial position or liquidity[326](index=326&type=chunk) [Risk Factors](index=64&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes occurred to the risk factors previously disclosed in the company's 2024 Form 10-K - There were **no material changes** during the period to the risk factors previously disclosed in the 2024 Form 10-K[328](index=328&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=64&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 350,000 shares under its board-approved stock buyback program during Q1 2025 Common Share Repurchases - Q1 2025 | Period | Total Shares Purchased | Average Price Paid per Share | Shares Purchased Under Program | Remaining Authorization | | :--- | :--- | :--- | :--- | :--- | | Jan 2025 | 345 | $55.14 | 0 | 4,306,000 | | Feb 2025 | 456,278 | $59.39 | 350,000 | 3,956,000 | | Mar 2025 | 26 | $57.13 | 0 | 3,956,000 | | **Total Q1** | **456,649** | **$59.38** | **350,000** | **3,956,000** | [Other Information](index=64&type=section&id=ITEM%205.%20Other%20Information) No directors or executive officers adopted, terminated, or modified trading arrangements during Q1 2025 - No directors or executive officers adopted, terminated, or modified a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during Q1 2025[333](index=333&type=chunk) [Exhibits](index=65&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including certifications and Inline XBRL data

Group 1 - Hancock Whitney (NASDAQ: HWC) has experienced mixed fortunes over the past five months, with improvements in its bottom line [1] - The company focuses on a long-term, buy-and-hold investment strategy, particularly in stocks that can sustainably generate high-quality earnings [1] - The bank is primarily involved in the dividend and income investment sector [1] Group 2 - The article reflects the author's personal opinions and does not involve any compensation from companies mentioned [2] - There is a beneficial long position in HWC shares, indicating confidence in the company's future performance [2]

Core Viewpoint - Hancock Whitney (HWC) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that rising earnings estimates can lead to increased stock prices [4][6]. - Hancock Whitney is projected to earn $5.46 per share for the fiscal year ending December 2025, reflecting a year-over-year increase of 2.6% [8]. Analyst Sentiment and Market Position - Analysts have raised their earnings estimates for Hancock Whitney, with the Zacks Consensus Estimate increasing by 4.1% over the past three months [8]. - The upgrade to Zacks Rank 2 places Hancock Whitney in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10].

Core Insights - Hancock Whitney (NASDAQ: HWC) shares have increased by 14% over the past year but have experienced a decline of approximately 20% from their recent highs due to market sell-off [1] Group 1: Company Performance - HWC reported solid earnings for Q1, indicating strong financial performance despite recent market challenges [1] Group 2: Market Context - The company has a history of making contrarian bets based on macro views and stock-specific turnaround stories, aiming for outsized returns with a favorable risk/reward profile [1]