i - 1 Coming in such a short space of time, those returns naturally make the stock a little more expensive than it was at previous coverage. Still, Q2 figures released this week looked solid, and while the shares may be a little more expensive now at $55.37, the implied valuation still doesn't require aggressive long-term assumptions to work. Indeed, investors can afford to see Hancock underperform on profitability and growth while still offering upside beyond the $60 per share region. As such, I keep my 'B ...

Hancock Whitney Corp.'s (HWC) second-quarter 2024 earnings per share of $1.31 beat the Zacks Consensus Estimate of $1.19. However, the bottom line compared unfavorably with $1.35 per share registered in the yearago quarter. The results were aided by an increase in non-interest income. However, a decline in net interest income (NII) and higher expenses and provisions were the undermining factors. Net income was $114.6 million, down 2.7% year over year. Our estimate for the metric was $98.7 million. Revenues ...

Financial Data and Key Metrics Changes - The second quarter reported net income was $115 million or $1.31 per share, an increase of $0.07 per share compared to the previous quarter [21] - PPNR was $156 million, or 1.79% of average assets, up $3.5 million from the prior quarter [21] - NIM expanded by 5 basis points to 3.37%, contributing to growth in NII [21] - Total cost of deposits decreased by 1 basis point to 2% [39] - TCE ended the quarter at 8.77% and common equity Tier 1 ratio at 13% [19] Business Line Data and Key Metrics Changes - Commercial Real Estate (CRE) had a strong quarter with an optimistic outlook for the second half of the year [2] - Equipment finance also performed well, with a positive pipeline [4] - Consumer and home equity lines remain weak, requiring new deals to maintain levels due to amortization [4] - Loan yield increased by 8 basis points to 6.24% due to a focus on more granular loans [22] Market Data and Key Metrics Changes - Deposits decreased primarily due to a reduction in broker CDs by $195 million, but DDA decline was moderated [36] - The DDA mix remained stable at 36% [36] - Fee income increased by 2% quarter-over-quarter, driven by higher trust fees and bank card fees [40] Company Strategy and Development Direction - The company aims to reposition its balance sheet by reducing large credit-only relationships while focusing on granular loans to achieve higher yields [18] - There is a strategic focus on hiring seasoned bankers and wealth advisors to enhance service offerings and revenue generation [7][9] - The company is considering M&A opportunities but is currently focused on internal growth and stability [55][77] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability and capital ratios despite a challenging economic environment [17] - The outlook for loan growth is cautious, with expectations for loans to be flat to slightly down from 2023 [18] - Management noted that the competitive landscape is changing, with some competitors returning to the market, which may pressure deal prices [3] Other Important Information - The company returned capital to investors with a 33% increase in common stock dividends and repurchased over 300,000 shares [19] - The guidance for noninterest income for 2024 is expected to increase by 4% to 5% from 2023 levels [40] Q&A Session Summary Question: What is the expected pace of loan yield increases in the back half of the year? - Management indicated a modest increase in loan yields is expected, with a couple of basis points improvement anticipated in the next quarters [67] Question: Can you elaborate on the expense guidance and how savings are being created? - Management mentioned strategic procurement and outsourcing as key factors in controlling costs while hiring additional revenue-generating staff [45] Question: What is the target for the reduction of Shared National Credit (SNC) balances? - The goal is to reduce SNC balances to around 9% of total loans, aligning with peer averages [50][52] Question: Is M&A a consideration for future growth? - While M&A is not a current focus, management is open to opportunities that align with strategic growth and market conditions [55][77] Question: How is loan demand changing in the current environment? - Management noted mixed signals in loan demand, with strong production in CRE but a cautious outlook overall [91]

Hancock Whitney (HWC) reported $359.6 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.7%. EPS of $1.31 for the same period compares to $1.35 a year ago. The reported revenue represents a surprise of +1.03% over the Zacks Consensus Estimate of $355.94 million. With the consensus EPS estimate being $1.19, the EPS surprise was +10.08%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

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. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 10.08%. A quarter ago, it was expected that this holding company of Whitney Bank and Hancock Bank would post earnings of $1.18 per share when it actually produced earnings of $1.28, delivering a surprise of 8.47%. ...

Exhibit 99.1 FOR IMMEDIATE RELEASE July 16, 2024 For more information Kathryn Shrout Mistich, VP, Investor Relations Manager 504.539.7836 or kathryn.mistich@hancockwhitney.com Hancock Whitney reports second quarter 2024 EPS of $1.31 GULFPORT, Miss. (July 16, 2024) — Hancock Whitney Corporation (Nasdaq: HWC) today announced its financial results for the second quarter of 2024. Net income for the second quarter of 2024 totaled $114.6 million, or $1.31 per diluted common share (EPS), compared to $108.6 million ...

Bearing this in mind, let's now explore the average estimates of specific Hancock Whitney metrics that are commonly monitored and projected by Wall Street analysts. According to the collective judgment of analysts, 'Total nonperforming assets' should come in at $108.65 million. Compared to the present estimate, the company reported $80.39 million in the same quarter last year. Analysts forecast 'Investment and annuity fees and insurance commissions' to reach $11.43 million. Compared to the current estimate, ...

Hancock Whitney (HWC) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change ...

Volatility has returned to Wall Street, with all major indexes snapping their rally last week. The Dow, the S&P 500 and the Nasdaq ended 0.9%, 0.5% and 1.1% lower, respectively. Core PCE, which excludes the volatile costs of food and energy, increased by 0.2% month over month. This was less than the 0.3% increase in March and the consensus estimate for a repeat increase. Inflation is still sharply high compared to the Federal Reserve's 2% target. This has raised uncertainty over the time of the first intere ...

Investors in Hancock Whitney Corporation (HWC) need to pay close attention to the stock based on moves in the options market lately. That is because the Aug 16, 2024 $60.00 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It ...