Welcome to our dedicated page for Hancock Whitney Corporation news (Ticker: HWC), a resource for investors and traders seeking the latest updates and insights on Hancock Whitney Corporation stock.
Hancock Whitney Corporation (NYSE: HWC) stands as a prominent financial institution with a rich heritage dating back to the late 1800s. The company has consistently embodied core values of honor, integrity, strength, and stability, paired with a commitment to exceptional service, teamwork, and personal responsibility.
From its headquarters, Hancock Whitney operates numerous bank offices and financial centers in Mississippi, Alabama, and Florida. It offers a comprehensive suite of financial products and services, targeting commercial, small business, and retail clients. These services encompass traditional and online banking, with offerings including checking and savings accounts, treasury management services, and an array of secured and unsecured loan products such as revolving credit facilities and letters of credit.
Additionally, Hancock Whitney provides specialized services in energy banking, private banking, trust and investment services, and mortgage solutions. The company also extends its expertise to retirement plans, corporations, and individual clients through its trust and investment management services, ensuring customers have access to top-tier investment advisory and brokerage products.
Hancock Whitney's unwavering dedication to its core values not only fosters a robust financial environment but also underpins its commitment to equal employment opportunities. The company is an equal opportunity/affirmative action employer, ensuring all qualified applicants receive fair consideration regardless of race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability, or other protected statuses.
Hancock Whitney continues to set benchmarks in the financial sector with its latest projects and achievements, bolstering its reputation for strong financial health and partnership-driven success.
Hancock Whitney (Nasdaq: HWC) has announced a new stock buyback program authorized by its Board of Directors. The program allows the company to repurchase up to 5% of outstanding common stock as of December 31, 2024. This new initiative will replace the current buyback program expiring December 31, 2024. The new program will be effective from January 1, 2025 through December 31, 2026. Shares may be repurchased through various methods including open market, block purchases, accelerated share repurchase plans, or private negotiations, subject to market conditions and SEC regulations. The Board retains the right to terminate or amend the program before its expiration.
Hancock Whitney (Nasdaq: HWC) has appointed Moses Feagin to its board of directors, effective November 15, 2024. Feagin, currently Executive Vice President, Treasurer, and CFO of Alabama Power, brings 35 years of utility industry experience to the financial institution. He oversees finance, accounting, treasury, and regulatory affairs at Alabama Power, a Southern Company subsidiary. The appointment comes as Hancock Whitney, rated among America's strongest financial institutions by BauerFinancial, Inc., celebrates its 125th anniversary.
Hancock Whitney (Nasdaq: HWC) has declared a regular fourth quarter 2024 common stock cash dividend of $0.40 per share. The dividend will be paid on December 16, 2024, to shareholders of record as of December 5, 2024. The company highlights its consistent dividend payment history, having maintained uninterrupted quarterly dividends since 1967.
Hancock Whitney (Nasdaq: HWC) reported its financial results for the third quarter of 2024. Net income totaled $115.6 million, or $1.33 per diluted common share, compared to $114.6 million, or $1.31 per share, in Q2 2024. Key highlights include:
- Pre-provision net revenue (PPNR) increased to $166.5 million
- Loans decreased by $456 million, or 8% linked quarter annualized (LQA)
- Deposits decreased by $218 million, or 3% LQA
- Net interest margin (NIM) improved to 3.39%, up 2 bps
- CET1 ratio estimated at 13.79%, up 54 bps
- Efficiency ratio improved to 54.42%, down 176 bps
The company maintained a solid allowance for credit losses (ACL) coverage at 1.46%. Management expects 2024 period-end loan and deposit balances to be flat to slightly down from year-end 2023 levels.
Hancock Whitney (Nasdaq: HWC) has announced it will release its third quarter 2024 financial results on Tuesday, October 15, 2024, after market close. The company will host a conference call for analysts and investors at 3:30 p.m. Central Time on the same day to discuss the results.
A live listen-only webcast of the call will be available on the Investor Relations section of Hancock Whitney's website. For those wishing to participate in the Q&A portion, dial-in details are provided. An audio archive of the conference call will be accessible on the company's website, and a replay will be available through October 22, 2024, via phone.
Hancock Whitney Bank announced the retirement of Joy Lambert Phillips, Senior Executive Vice President and Chief Legal Officer, effective September 6, 2024. Phillips has been with the company for over 25 years and has played a important role in its growth and governance. Her successor, Nita Kuhner, will take over as General Counsel and Corporate Secretary.
Phillips has had a distinguished 40-year career in financial services law, joining Hancock Bank in 1999. She was instrumental in the Hancock Bank and Whitney National Bank merger in 2011. Her leadership extended beyond the company, serving on various legal committees and receiving numerous accolades, including the 2010 Chief Justice Award and the 2013 Mississippi Center for Justice 'Champion of Justice' award.
Hancock Whitney (Nasdaq: HWC) has announced a regular third quarter 2024 common stock cash dividend of $0.40 per share. The dividend is payable on September 16, 2024 to shareholders of record as of September 5, 2024. This announcement continues the company's long-standing tradition of paying uninterrupted quarterly dividends since 1967, demonstrating a strong commitment to shareholder returns and financial stability. The consistency in dividend payments over nearly six decades highlights Hancock Whitney's resilience and ability to generate steady cash flows across various economic cycles.
Hancock Whitney (Nasdaq: HWC) reported Q2 2024 earnings of $114.6 million, or $1.31 per diluted share, up from $108.6 million, or $1.24 per share in Q1 2024. Key highlights include:
- Net interest margin increased to 3.37%, up 5 bps from Q1
- Loans decreased by $59.3 million, or 1% linked quarter annualized (LQA)
- Deposits decreased by $575.2 million, or 8% LQA
- Efficiency ratio improved to 56.18%, down 26 bps linked-quarter
- CET1 ratio estimated at 13.25%, up 60 bps linked-quarter
The company maintained a solid allowance for credit losses (ACL) coverage of 1.43% and resumed share buybacks during the quarter. Management expects 2024 period-end loan and deposit levels to be flat to slightly down from year-end 2023.
Hancock Whitney (Nasdaq: HWC) will release its second quarter 2024 financial results on Tuesday, July 16, 2024, after the market closes. The company's management will host a conference call for analysts and investors at 3:30 p.m. Central Time the same day to discuss the results.
The call will be webcast live on the Investor Relations section of Hancock Whitney's website. Participants can join the Q&A session by dialing specific numbers provided in the PR. Additionally, an audio archive of the call will be available on the company's website, and a replay can be accessed by phone through July 23, 2024.
FAQ
What is the current stock price of Hancock Whitney Corporation (HWC)?
What is the market cap of Hancock Whitney Corporation (HWC)?
What services does Hancock Whitney Corporation offer?
Where are Hancock Whitney's locations?
Is Hancock Whitney an equal opportunity employer?
What is the significance of Hancock Whitney's core values?
Does Hancock Whitney offer investment advisory services?
What type of loans does Hancock Whitney provide?
Can individuals access Hancock Whitney's services?
What distinguishes Hancock Whitney from other financial institutions?
Are there online banking options available at Hancock Whitney?
How does Hancock Whitney support small businesses?
