Hancock Whitney Corp (NASDAQ: HWC) got a price target increase from several analysts after reporting Q2 results yesterday.
The company reported EPS of $1.35, beating the consensus of $1.34.
Both, Truist Securities and Stephens & Co. raised the price target to $47 from $43 at Buy and Equal-Weight ratings, respectively.
However, Truist analyst Brandon King lowered the EPS estimate for 2023 to $5.20 (from $5.41, consensus: $5.32) and for 2024 to $4.60 (from $4.99), reflecting expected lower revenue and higher expenses.
Stephens analyst Matt Olney also cut the 2024 EPS estimate to $4.66 (from $4.79) and reiterated the 2023 EPS estimate at $5.26.
Raymond James increased the price target to $46 from $45 and downgraded to Outperform (from Strong Buy) rating.
On the other hand, Piper Sandler reduced the price target to $46 from $50 and downgraded the rating to Neutral (from Overweight).
Piper analyst Stephen Scouten estimates 2024 EPS of $4.20, 15% below his previous estimate.
Price Action: HWC shares are trading lower by 0.05% at $43.43 on the last check Wednesday.
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