Core Insights - Hancock Whitney (HWC) reported revenue of $367.66 million for the quarter ended September 2024, reflecting a year-over-year increase of 3.5% [1] - The company's earnings per share (EPS) was $1.33, up from $1.12 in the same quarter last year, exceeding the Zacks Consensus Estimate of $1.31 [1] - The revenue surpassed the Zacks Consensus Estimate of $363.54 million, resulting in a surprise of +1.13% [1] Financial Performance Metrics - Efficiency Ratio stood at 54.4%, better than the five-analyst average estimate of 56.9% [3] - Net interest margin (TE) was reported at 3.4%, matching the average estimate based on five analysts [3] - Average balance of total interest-earning assets was $32.26 billion, slightly below the four-analyst average estimate of $32.45 billion [3] - Total net charge-offs as a percentage of average loans were 0.3%, higher than the 0.2% estimated by four analysts [3] - Total nonperforming assets amounted to $110.60 million, exceeding the two-analyst average estimate of $91.34 million [3] - Total nonperforming loans were reported at $82.87 million, compared to the $89.06 million average estimate based on two analysts [3] - Total noninterest income reached $95.90 million, surpassing the $89.47 million estimated by five analysts [3] - Net interest income (TE) was $274.46 million, slightly below the five-analyst average estimate of $277.21 million [3] - Net interest income was reported at $271.76 million, compared to the $273.79 million average estimate based on four analysts [3] - Secondary mortgage market operations generated $3.38 million, below the $3.58 million estimated by two analysts [3] - Other income was $18.83 million, exceeding the two-analyst average estimate of $14.30 million [3] - Bank card and ATM fees totaled $21.64 million, slightly below the $22.01 million average estimate based on two analysts [3] Stock Performance - Shares of Hancock Whitney have returned +5.9% over the past month, outperforming the Zacks S&P 500 composite's +4.3% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]

Company Performance - Hancock Whitney (HWC) reported quarterly earnings of $1.33 per share, exceeding the Zacks Consensus Estimate of $1.31 per share, and up from $1.12 per share a year ago, representing an earnings surprise of 1.53% [1] - The company posted revenues of $367.66 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.13%, and an increase from $355.21 million year-over-year [2] - Hancock Whitney has surpassed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates three times in the same period [2] Stock Performance and Outlook - Hancock Whitney shares have increased approximately 9.2% since the beginning of the year, while the S&P 500 has gained 22.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4] - The current consensus EPS estimate for the upcoming quarter is $1.26 on revenues of $363.71 million, and for the current fiscal year, it is $5.14 on revenues of $1.44 billion [7] Industry Context - The Zacks Industry Rank indicates that the Banks - Southeast industry is currently in the bottom 34% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5][6]

Analysts on Wall Street project that Hancock Whitney (HWC) will announce quarterly earnings of $1.31 per share in its forthcoming report, representing an increase of 17% year over year. Revenues are projected to reach $363.54 million, increasing 2.4% from the same quarter last year. Over the last 30 days, there has been a downward revision of 1.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial for ...

Hancock Whitney (HWC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 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. The earnings report, which is expected to be released on October 15, 2024, might help the stock move higher if these key numbers are bette ...

Hancock Whitney (HWC) is well poised to benefit from its solid balance sheet, prospects of interest rate cuts and strategic efforts to bolster net interest margin (NIM) despite concerns related to high funding costs. Bullish Analyst Sentiments for HWC The Zacks Consensus Estimate for Hancock Whitney's 2024 and 2025 has been revised marginally upward over the past month. The positive estimate revision indicates that analysts are optimistic regarding the company's prospects and earnings potential. Estimate Re ...

Core Viewpoint - Hancock Whitney (HWC) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Hancock Whitney for the fiscal year ending December 2024 is projected at $5.17 per share, reflecting a slight decrease of -0.2% from the previous year [9]. - Over the past three months, analysts have raised their earnings estimates for Hancock Whitney by 5.9% [9]. Zacks Rating System - The Zacks rating system is based solely on a company's changing earnings picture, which is tracked through EPS estimates from sell-side analysts [2]. - The system classifies stocks into five groups, with Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell), and has shown an impressive track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [8]. Market Implications - The upgrade to Zacks Rank 2 places Hancock Whitney in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11]. - Rising earnings estimates and the corresponding rating upgrade indicate an improvement in Hancock Whitney's underlying business, which could lead to increased buying pressure and a higher stock price [6][4].

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 ...