Hancock Whitney (HWC)
Market Price (8/8/2026): $77.615 | Market Cap: $6.3 BilSector: Financials | Industry: Regional Banks
Hancock Whitney (HWC)
Market Price (8/8/2026): $77.615Market Cap: $6.3 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.3%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 8.9% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 38% Low stock price volatilityVol 12M is 25% Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 12% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. | Trading close to highsDist 52W High is -2.0%, Dist 3Y High is -2.0% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3% Key risksHWC key risks include [1] its vulnerability to regional economic stress due to a heavy operational concentration in the Gulf South and [2] elevated credit risk from an increase in non-performing construction and development (C&D) loans. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.3%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 8.9% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 38% |
| Low stock price volatilityVol 12M is 25% |
| Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 12% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. |
| Trading close to highsDist 52W High is -2.0%, Dist 3Y High is -2.0% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3% |
| Key risksHWC key risks include [1] its vulnerability to regional economic stress due to a heavy operational concentration in the Gulf South and [2] elevated credit risk from an increase in non-performing construction and development (C&D) loans. |
Qualitative Assessment
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Hancock Whitney (HWC) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Second Quarter 2026 Financial Performance: Hancock Whitney reported net income of $127.0 million, or $1.55 diluted EPS, for fiscal Q2 2026, announced on July 21, 2026. This represents a significant increase from $47.4 million, or $0.57 per share, in fiscal Q1 2026 (which included a $98.6 million pretax loss from a securities portfolio restructuring) and $113.5 million, or $1.32 per share, in fiscal Q2 2025. The company's revenue of $401.36 million exceeded analyst expectations by 1.26%, and adjusted pre-provision net revenue increased 3% sequentially to $178.1 million.
2. Robust Loan and Deposit Growth: The company demonstrated significant balance sheet expansion during fiscal Q2 2026. Total loans increased by $588.3 million, or 2% (10% linked-quarter annualized), reaching $24.6 billion. Concurrently, total deposits grew by $547.6 million, or 2% (8% linked-quarter annualized), to $29.6 billion. This deposit growth was notably driven by a $786 million increase in interest-bearing transaction and savings accounts, supported by competitive product offerings.
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Hancock Whitney (HWC) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Second Quarter 2026 Financial Performance: Hancock Whitney reported net income of $127.0 million, or $1.55 diluted EPS, for fiscal Q2 2026, announced on July 21, 2026. This represents a significant increase from $47.4 million, or $0.57 per share, in fiscal Q1 2026 (which included a $98.6 million pretax loss from a securities portfolio restructuring) and $113.5 million, or $1.32 per share, in fiscal Q2 2025. The company's revenue of $401.36 million exceeded analyst expectations by 1.26%, and adjusted pre-provision net revenue increased 3% sequentially to $178.1 million.
2. Robust Loan and Deposit Growth: The company demonstrated significant balance sheet expansion during fiscal Q2 2026. Total loans increased by $588.3 million, or 2% (10% linked-quarter annualized), reaching $24.6 billion. Concurrently, total deposits grew by $547.6 million, or 2% (8% linked-quarter annualized), to $29.6 billion. This deposit growth was notably driven by a $786 million increase in interest-bearing transaction and savings accounts, supported by competitive product offerings.
3. Strategic Acquisition and Positive Outlook: Hancock Whitney's announced acquisition of One Florida Bank on May 15, 2026, which received regulatory approval on July 20, 2026, and was expected to close around August 1, 2026, contributed to positive sentiment. This acquisition is anticipated to be immediately accretive to GAAP EPS (excluding one-time costs) and will expand the company's footprint in the growing Orlando, Florida market, adding approximately $2.1 billion in assets, $1.7 billion in loans, and $1.9 billion in deposits as of March 31, 2026. Management's updated 2026 outlook projects low double-digit loan and deposit growth and an 8% to 9% increase in net interest income, including the contributions from One Florida Bank.
4. Positive Analyst Sentiment and Price Target Upgrades: Following the strong fiscal Q2 2026 results and strategic acquisition, several Wall Street analysts raised their price targets for Hancock Whitney. For instance, Benchmark increased its price target from $84 to $91 on July 22, 2026, and Keefe, Bruyette & Woods raised its target from $78 to $80 on the same date. The stock maintains a consensus "Moderate Buy" or "Buy" rating, with an average price target ranging from $83.56 to $84.11, indicating a projected upside from its current trading levels.
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Stock Movement Drivers
Fundamental Drivers
The 15.8% change in HWC stock from 4/30/2026 to 8/7/2026 was primarily driven by a 28.2% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 67.02 | 77.60 | 15.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,509 | 1,462 | -3.1% |
| Net Income Margin (%) | 32.2% | 29.2% | -9.2% |
| P/E Multiple | 11.5 | 14.7 | 28.2% |
| Shares Outstanding (Mil) | 83 | 81 | 2.7% |
| Cumulative Contribution | 15.8% |
Market Drivers
4/30/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| HWC | 15.8% | |
| Market (SPY) | 7.6% | 18.7% |
| Sector (XLF) | 10.5% | 48.1% |
Fundamental Drivers
The 14.5% change in HWC stock from 1/31/2026 to 8/7/2026 was primarily driven by a 23.3% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 67.79 | 77.60 | 14.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,485 | 1,462 | -1.5% |
| Net Income Margin (%) | 32.5% | 29.2% | -10.1% |
| P/E Multiple | 11.9 | 14.7 | 23.3% |
| Shares Outstanding (Mil) | 85 | 81 | 4.9% |
| Cumulative Contribution | 14.5% |
Market Drivers
1/31/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| HWC | 14.5% | |
| Market (SPY) | 12.1% | 31.9% |
| Sector (XLF) | 8.3% | 60.0% |
Fundamental Drivers
The 33.8% change in HWC stock from 7/31/2025 to 8/7/2026 was primarily driven by a 38.8% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 58.01 | 77.60 | 33.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,450 | 1,462 | 0.8% |
| Net Income Margin (%) | 32.5% | 29.2% | -10.2% |
| P/E Multiple | 10.6 | 14.7 | 38.8% |
| Shares Outstanding (Mil) | 86 | 81 | 6.4% |
| Cumulative Contribution | 33.8% |
Market Drivers
7/31/2025 to 8/7/2026| Return | Correlation | |
|---|---|---|
| HWC | 33.8% | |
| Market (SPY) | 23.4% | 38.9% |
| Sector (XLF) | 11.3% | 63.9% |
Fundamental Drivers
The 93.0% change in HWC stock from 7/31/2023 to 8/7/2026 was primarily driven by a 123.9% change in the company's P/E Multiple.| (LTM values as of) | 7312023 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.22 | 77.60 | 93.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,431 | 1,462 | 2.1% |
| Net Income Margin (%) | 36.8% | 29.2% | -20.6% |
| P/E Multiple | 6.6 | 14.7 | 123.9% |
| Shares Outstanding (Mil) | 86 | 81 | 6.3% |
| Cumulative Contribution | 93.0% |
Market Drivers
7/31/2023 to 8/7/2026| Return | Correlation | |
|---|---|---|
| HWC | 93.0% | |
| Market (SPY) | 74.9% | 53.8% |
| Sector (XLF) | 70.4% | 70.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HWC Return | 51% | -1% | 3% | 16% | 20% | 23% | 164% |
| Peers Return | 48% | -9% | -1% | 21% | 6% | 12% | 90% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| HWC Win Rate | 75% | 42% | 58% | 50% | 67% | 75% | |
| Peers Win Rate | 75% | 42% | 42% | 54% | 60% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HWC Max Drawdown | -19% | -25% | -40% | -17% | -24% | -17% | |
| Peers Max Drawdown | -18% | -27% | -43% | -19% | -27% | -17% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FNB, SFBS, CBU, BKU, FCBM. See HWC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | HWC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.1% | -18.8% |
| % Gain to Breakeven | 26.7% | 23.1% |
| Time to Breakeven | 88 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -22.7% | -9.5% |
| % Gain to Breakeven | 29.3% | 10.5% |
| Time to Breakeven | 37 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.4% | -6.7% |
| % Gain to Breakeven | 62.3% | 7.1% |
| Time to Breakeven | 431 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -16.1% | -24.5% |
| % Gain to Breakeven | 19.2% | 32.4% |
| Time to Breakeven | 28 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.0% | -33.7% |
| % Gain to Breakeven | 156.5% | 50.9% |
| Time to Breakeven | 290 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.5% | -19.2% |
| % Gain to Breakeven | 45.9% | 23.8% |
| Time to Breakeven | 809 days | 105 days |
In The Past
Hancock Whitney's stock fell -21.1% during the 2025 US Tariff Shock. Such a loss loss requires a 26.7% gain to breakeven.
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Asset Allocation
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| Event | HWC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.1% | -18.8% |
| % Gain to Breakeven | 26.7% | 23.1% |
| Time to Breakeven | 88 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -22.7% | -9.5% |
| % Gain to Breakeven | 29.3% | 10.5% |
| Time to Breakeven | 37 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -38.4% | -6.7% |
| % Gain to Breakeven | 62.3% | 7.1% |
| Time to Breakeven | 431 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.0% | -33.7% |
| % Gain to Breakeven | 156.5% | 50.9% |
| Time to Breakeven | 290 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.5% | -19.2% |
| % Gain to Breakeven | 45.9% | 23.8% |
| Time to Breakeven | 809 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.2% | -12.2% |
| % Gain to Breakeven | 37.3% | 13.9% |
| Time to Breakeven | 182 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -34.1% | -6.8% |
| % Gain to Breakeven | 51.8% | 7.3% |
| Time to Breakeven | 209 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -20.1% | -17.9% |
| % Gain to Breakeven | 25.1% | 21.8% |
| Time to Breakeven | 18 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -31.2% | -15.4% |
| % Gain to Breakeven | 45.4% | 18.2% |
| Time to Breakeven | 1251 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -41.2% | -53.4% |
| % Gain to Breakeven | 70.1% | 114.4% |
| Time to Breakeven | 56 days | 1085 days |
In The Past
Hancock Whitney's stock fell -21.1% during the 2025 US Tariff Shock. Such a loss loss requires a 26.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hancock Whitney (HWC)
Hancock Whitney Corporation (HWC) operates as a regional bank holding company, primarily serving the financial needs of communities throughout the Gulf South corridor. Its core business revolves around traditional banking activities, which involve attracting various forms of customer deposits and then utilizing these funds to provide a wide array of lending products.
The company offers a comprehensive suite of banking products and services. On the deposit side, it accepts noninterest-bearing demand, interest-bearing transaction, savings, money market, and time deposit accounts. Its lending portfolio is diverse, encompassing commercial and industrial loans, commercial real estate loans, construction and land development loans, residential mortgages, and consumer loans such as home equity lines of credit. Hancock Whitney also provides revolving credit facilities and letters of credit.
Beyond its core deposit and lending services, Hancock Whitney extends its offerings to include investment brokerage, treasury management, and trust and investment management services for retirement plans, corporations, and individuals. The company primarily serves commercial, small business, and retail customers across southern and central Mississippi, southern and central Alabama, Louisiana, Florida, and key areas of east Texas, operating through 177 full-service offices and 240 ATMs.
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1. A full-service regional bank, much like a scaled-down Bank of America or Wells Fargo, concentrated in the Gulf South.
2. Similar to a Truist or PNC Bank, but primarily serving the Gulf South states.
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- Deposit Services: Accepting various types of customer deposits, including checking, savings, money market, and time deposit accounts.
- Loan Services: Providing a wide range of loans to businesses and individuals, such as commercial, real estate, residential mortgages, and consumer loans.
- Investment Brokerage Services: Offering services for clients to buy and sell various investment products.
- Treasury Management Services: Providing financial services to businesses for managing cash flow, payments, and other financial operations.
- Annuity and Life Insurance Products: Selling annuity and life insurance policies to customers.
- Trust and Investment Management Services: Managing assets and investments for retirement plans, corporations, and individuals.
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Hancock Whitney (HWC) sells primarily to a diverse range of customers rather than a few major named companies. Its major customer categories include:
- Commercial customers
- Small business customers
- Retail customers
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John M. Hairston, President & Chief Executive Officer
John M. Hairston joined Hancock Whitney in 1994, following a career in financial services consulting with Anderson Consulting. He has served as Chief Executive Officer since 2008 and President since 2014. Prior to becoming President of the company, he held the role of Chief Operating Officer from 2008 to 2014. He has been a director of Hancock Whitney since 2006. Hairston has also served on the board and as a faculty member of the Graduate School of Banking at Louisiana State University and the Georgia Banking School. He currently serves on the Boards of Directors of the Gulf Coast Business Council, New Orleans Business Council, Mississippi Economic Council, and The National WWII Museum.
Michael M. Achary, Chief Financial Officer
Michael M. Achary has been the Senior Executive Vice President and Chief Financial Officer of Hancock Whitney since 2007, and was designated Principal Accounting Officer in 2022. He joined Hancock Whitney in the summer of 2000. Before his tenure at Hancock Whitney, Achary served as a senior vice president at First Commerce Corporation, based in New Orleans, and as chief financial officer for a New Orleans law firm. He is a certified public accountant and holds both a Bachelor of Science degree in accounting and a Master of Business Administration degree from the University of New Orleans. Achary is also a graduate of the Graduate School of Banking at Louisiana State University.
D. Shane Loper, Hancock Whitney Bank President & Chief Operating Officer
D. Shane Loper was named President of Hancock Whitney Bank in March 2024, while retaining his senior executive corporate role as Chief Operating Officer for Hancock Whitney Corporation. He began his career with the company as a computer programmer and has dedicated 34 years to the organization. Loper has provided senior executive oversight for various critical functions, including corporate operations, human resources, compliance and risk management, information technology, business strategy, and merger and acquisition integration. He holds a Bachelor of Science degree from the University of Southern Mississippi and a Master of Business Administration degree from Troy State University. He is also a graduate of the Graduate School of Banking at Louisiana State University. Additionally, he served as a Mississippi Army National Guard Infantry Officer and Major for over 16 years.
Emory L. Mayfield, Chief Banking Officer
Emory L. Mayfield was appointed Chief Banking Officer for Hancock Whitney Corporation in January 2026. He brings more than two decades of bank leadership and industry experience to the role, overseeing core business lines such as corporate, middle market, commercial and business banking, mortgage banking, and retail banking. Mayfield joined Hancock Whitney in 2013 as market president for the Tallahassee, Florida region, later serving as Mississippi Regional President, and most recently as Chief Consumer Banking Officer since 2022. Prior to joining Hancock Whitney, he spent over 10 years as a senior vice president for Capital City Bank and as a public finance associate with Fannie Mae in Washington, D.C.
Juanita P. Kuhner, General Counsel & Corporate Secretary
Juanita P. Kuhner serves as the General Counsel & Corporate Secretary for Hancock Whitney Corporation.
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The key risks to Hancock Whitney Corporation (HWC) primarily stem from its core banking operations, geographic concentration, and the broader economic and regulatory environment.
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Economic and Market Conditions / Credit Risk: Hancock Whitney faces significant exposure to uncertain economic and market conditions, including potential recessions and regional economic stress, particularly within its primary operating area of the Gulf South region. These conditions can lead to increased delinquencies and defaults on its diverse loan portfolio, which includes commercial and industrial loans, commercial real estate loans, construction and land development loans, and residential mortgages. The company also has lending concentration risks in sectors such as commercial and residential real estate, healthcare, and hospitality, which could be adversely affected by economic disruptions, regulatory changes, or environmental events, thereby impairing its financial performance.
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Interest Rate Fluctuations: As a financial institution, Hancock Whitney is highly sensitive to interest rate fluctuations. Both rising and falling interest rates can substantially impact the company's net interest income, demand for its loan products, and the valuation of its assets and liabilities. Changes in the Federal Reserve's monetary policy, including adjustments to interest rates, introduce further uncertainty and can significantly affect the bank's profitability and financial performance.
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Operational Risks, including Cybersecurity Threats and Third-Party Vendor Reliance: Hancock Whitney is exposed to various operational risks inherent in the banking industry. These include a reliance on third-party vendors for critical business infrastructure, which could lead to disruptions if these vendors experience performance failures. Additionally, cybersecurity threats and data breaches remain a significant concern, posing potential impacts on business continuity, customer data security, and the company's reputation.
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The clear emerging threat to Hancock Whitney is the rise of digital-first banks, neobanks, and specialized financial technology (fintech) companies. These new entrants leverage technology to offer a range of banking products and services, including deposits, loans, and payment solutions, with lower overhead costs and often superior digital user experiences. This model allows them to attract and service retail, small business, and certain commercial customers without the extensive physical branch network that Hancock Whitney maintains, directly challenging its traditional banking operations and potentially eroding its customer base and market share.
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Hancock Whitney Corporation operates in the Gulf South corridor, including southern and central Mississippi; southern and central Alabama; southern, central, and northwest Louisiana; northern, central, and panhandle regions of Florida; and certain areas of east Texas. The addressable market sizes for its main products and services within these regions are detailed below:
Deposit Products
- Total Deposits:
- Mississippi: Approximately $140.81 billion as of June 30, 2024.
- Florida: Approximately $831 billion as of Q4 2024.
- Alabama: Total deposits for state-chartered banks were approximately $249.43 billion as of fiscal year-end 2019.
- Louisiana: Approximately $131 billion as of 2024.
- Dallas-Fort Worth Region (Texas): Approximately $714.7 billion as of June 30, 2023.
Loan Products
- Small Business Loans:
- Mississippi: Community banks provided approximately $2.5 billion in SBA 504 and 7(a) loans from 2010-2025.
- Alabama: Community banks provided approximately $3.5 billion in SBA 504 and 7(a) loans from 2010-2025.
- Louisiana: Approximately $10 billion as of 2024. Community banks provided approximately $2.8 billion in SBA 504 and 7(a) loans from 2010-2025.
- Texas: Community banks provided approximately $34 billion in SBA 504 and 7(a) loans from 2010-2025.
- Florida: Approximately $52.9 billion as of 2024.
- Residential Mortgages (New Home Loans):
- Florida: Approximately $87.1 billion in new home loans were booked in 2024.
- Louisiana: Approximately $7.2 billion in new home loans were booked in 2024.
- Commercial and Industrial Loans: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
- Commercial Real Estate Loans: Unable to determine a specific addressable market size in dollar figures for Hancock Whitney's operating regions. In Q1 2024, commercial real estate loans constituted 55% of all Texas community bank loans.
- Construction and Land Development Loans: Unable to determine a specific addressable market size in dollar figures for Hancock Whitney's operating regions.
- Consumer Loans: Unable to determine a specific addressable market size in dollar figures for Hancock Whitney's operating regions. In July 2025, consumer loans made up 1.3% of total loans at top-performing Texas banks.
- Revolving Credit Facilities: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
- Letters of Credit and Financial Guarantees: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
Other Services
- Investment Brokerage Services: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
- Treasury Management Services: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
- Annuity and Life Insurance Products: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
- Trust and Investment Management Services: Unable to determine a specific addressable market size for Hancock Whitney's operating regions.
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Hancock Whitney (HWC) is expected to drive future revenue growth over the next two to three years through several key initiatives and market dynamics:
- Loan Growth: Hancock Whitney anticipates mid-single-digit loan growth for 2026, building on a 6% annualized growth observed in the fourth quarter of 2025. This growth is a fundamental driver for the company's Net Interest Income (NII).
- Net Interest Margin (NIM) Expansion and Net Interest Income (NII) Growth: The company completed a bond portfolio restructuring in early 2026, which is projected to positively impact NIM by 7 basis points and contribute an additional $24 million to NII annually. Management forecasts NII to increase by 5-6% in 2026, with some analysts expecting a NIM expansion of 12-15 basis points year-over-year by the fourth quarter of 2026.
- Expansion of Fee Income through Wealth Management and Trust Services: The acquisition of Sabal Trust Company in early 2025 is a significant driver, expected to boost Hancock Whitney's fee income by 9-10% year-over-year by adding $5.5 billion in assets under management. Furthermore, an expanded partnership with Wealth Access, extending the platform used by Sabal Trust, aims to integrate banking, trust, and wealth management services to deepen client relationships and support higher fee-based revenue, with overall fee income projected to grow 4-5% in 2026.
- Organic Growth and Geographic Expansion: Hancock Whitney is executing a multi-year organic growth plan, which includes strategic hiring and expanding its physical presence in high-growth markets like Texas and Florida. The company intends to establish five new financial centers in the Dallas metropolitan area by early 2026, targeting energy and technology sectors, and plans to hire up to 50 additional revenue-generating associates in 2026 to support these growth targets.
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Share Repurchases
- Hancock Whitney's previous share repurchase program, authorizing the repurchase of up to 4.3 million shares, was fully utilized in the fourth quarter of 2025. During Q4 2025, the company repurchased 2,543,700 shares at an average price of $57.62 per share.
- In December 2025, the Board of Directors authorized a new stock buyback program, effective January 1, 2026, to repurchase up to 5% of the company's outstanding common stock as of December 31, 2025, with this authorization running through December 31, 2026.
- Management anticipates continuing share repurchases at a more even pace throughout 2026, supported by the company's surplus capital position.
Share Issuance
- No significant share issuances for capital raising purposes were identified within the last 3-5 years.
- An equity award (restricted stock unit grant) of 8,493 shares was reported for the COO in February 2026 at a reference price of $69.94 per share.
Outbound Investments
- Hancock Whitney Bank acquired Sabal Trust Company, a non-depository trust company based in St. Petersburg, Florida, with the agreement announced in January 2025 and expected to close in Q2 2025. Sabal Trust had assets under management of approximately $3 billion at December 31, 2024, and generated $22.1 million in revenues in 2024.
- This acquisition was a strategic opportunity to expand Hancock Whitney's wealth and asset management group within the high-growth Florida market.
- The company's strategy includes executing a disciplined acquisition approach to expand into less energy-concentrated markets and pursuing growth in adjacent, high-margin areas.
Capital Expenditures
- The company is making ongoing investments in revenue-generating activities, with expenses projected to increase by 5-6% in 2026, including an impact from the execution of its organic growth plan and the full-year expenses related to the Sabal Trust Company acquisition.
- Capital is being allocated towards strategic technology investments to enhance digital banking capabilities and compete effectively in digital banking.
- Hancock Whitney plans to expand by adding 20-30 revenue producers in high-growth markets like Texas and Florida.
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| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 55.66 |
| Mkt Cap | 4.9 |
| Rev LTM | 1,122 |
| Op Inc LTM | - |
| FCF LTM | 372 |
| FCF 3Y Avg | 391 |
| CFO LTM | 377 |
| CFO 3Y Avg | 391 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.2% |
| Rev Chg 3Y Avg | 4.3% |
| Rev Chg Q | 6.8% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 38.5% |
| CFO/Rev 3Y Avg | 37.6% |
| FCF/Rev LTM | 34.0% |
| FCF/Rev 3Y Avg | 37.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Banking operations | 1,509 | 1,438 | 1,367 | 1,378 | 1,296 |
| Total | 1,509 | 1,438 | 1,367 | 1,378 | 1,296 |
| $ Mil | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|
| Whitney | 157 | 1,018 | 44 | ||
| Hancock | 53 | 578 | 42 | ||
| Other | 7 | 102 | -377 | 6 | 8 |
| Eliminations | -0 | -1 | 1 | -0 | -1 |
| Alabama | -1 | -5 | |||
| Louisiana | 47 | 48 | |||
| Mississippi | 10 | 52 | |||
| Florida | -3 | ||||
| Total | 216 | 1,697 | -290 | 62 | 98 |
| $ Mil | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|
| Whitney | 116 | 97 | 37 | ||
| Hancock | 42 | 49 | 36 | ||
| Other | 6 | 6 | 4 | 4 | 7 |
| Eliminations | -0 | -0 | 1 | -0 | -1 |
| Alabama | -0 | -3 | |||
| Louisiana | 35 | 35 | |||
| Mississippi | 15 | 38 | |||
| Florida | -1 | ||||
| Total | 163 | 152 | 77 | 52 | 75 |
| $ Mil | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|
| Whitney | 12,909 | 13,127 | 14,793 | ||
| Hancock | 6,573 | 6,309 | 4,934 | ||
| Other | 2,933 | 2,865 | 2,462 | 1,094 | 1,115 |
| Eliminations | -3,406 | -2,837 | -2,415 | -1,109 | -1,098 |
| Alabama | 196 | 180 | |||
| Louisiana | 2,906 | 2,890 | |||
| Mississippi | 5,052 | 5,258 | |||
| Florida | 352 | ||||
| Total | 19,009 | 19,464 | 19,774 | 8,138 | 8,697 |
Price Behavior
| Market Price | $77.60 | |
| Market Cap ($ Bil) | 6.3 | |
| First Trading Date | 06/04/1991 | |
| Distance from 52W High | -2.0% | |
| 50 Days | 200 Days | |
| DMA Price | $73.81 | $66.51 |
| DMA Trend | up | up |
| Distance from DMA | 5.1% | 16.7% |
| 3M | 1YR | |
| Volatility | 21.5% | 25.3% |
| Downside Capture | 22.21 | 66.83 |
| Upside Capture | 72.77 | 87.92 |
| Correlation (SPY) | 15.0% | 37.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.20 | 0.01 | 0.26 | 0.53 | 0.77 | 1.09 |
| Up Beta | -0.61 | -0.70 | -0.13 | 0.36 | 0.78 | 1.12 |
| Down Beta | -0.18 | -0.22 | -0.13 | 0.23 | 0.68 | 1.06 |
| Up Capture | 79% | 76% | 79% | 73% | 84% | 131% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 13 | 27 | 37 | 71 | 130 | 386 |
| Down Capture | 33% | -10% | 26% | 64% | 78% | 102% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 9 | 16 | 26 | 55 | 120 | 365 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HWC | |
|---|---|---|---|---|
| HWC | 36.5% | 25.3% | 1.18 | - |
| Sector ETF (XLF) | 12.3% | 14.6% | 0.57 | 63.1% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 37.3% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | 1.9% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -17.9% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 39.8% |
| Bitcoin (BTCUSD) | -44.2% | 42.9% | -1.23 | 17.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HWC | |
|---|---|---|---|---|
| HWC | 15.3% | 32.7% | 0.48 | - |
| Sector ETF (XLF) | 11.4% | 18.4% | 0.48 | 72.0% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 56.3% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | -3.0% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 10.0% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 49.5% |
| Bitcoin (BTCUSD) | 8.8% | 53.0% | 0.35 | 21.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HWC | |
|---|---|---|---|---|
| HWC | 13.2% | 39.0% | 0.44 | - |
| Sector ETF (XLF) | 13.6% | 22.1% | 0.56 | 79.0% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 59.7% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | -5.7% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 23.9% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 52.2% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 15.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/21/2026 | -0.3% | 0.4% | |
| 4/21/2026 | -1.7% | -1.6% | -2.4% |
| 1/20/2026 | 2.4% | -0.2% | 3.9% |
| 10/14/2025 | -6.0% | -9.3% | -5.1% |
| 7/15/2025 | 2.1% | 4.5% | 5.2% |
| 4/15/2025 | -0.3% | 4.4% | 17.1% |
| 1/21/2025 | -1.7% | -1.9% | -4.3% |
| 10/15/2024 | -0.8% | -3.9% | 11.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 12 | 14 |
| # Negative | 9 | 12 | 9 |
| Median Positive | 2.4% | 4.5% | 9.8% |
| Median Negative | -1.7% | -3.2% | -4.3% |
| Max Positive | 9.0% | 13.4% | 26.2% |
| Max Negative | -6.0% | -12.8% | -10.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/21/2026 | -0.3% | 0.4% | |
| 4/21/2026 | -1.7% | -1.6% | -2.4% |
| 1/20/2026 | 2.4% | -0.2% | 3.9% |
| 10/14/2025 | -6.0% | -9.3% | -5.1% |
| 7/15/2025 | 2.1% | 4.5% | 5.2% |
| 4/15/2025 | -0.3% | 4.4% | 17.1% |
| 1/21/2025 | -1.7% | -1.9% | -4.3% |
| 10/15/2024 | -0.8% | -3.9% | 11.2% |
| 7/16/2024 | 1.6% | 4.6% | -10.3% |
| 4/16/2024 | 1.5% | 9.5% | 15.6% |
| 1/16/2024 | 0.5% | 5.2% | -3.6% |
| 10/17/2023 | -4.2% | -8.8% | 13.3% |
| 7/18/2023 | 2.3% | -1.1% | -6.0% |
| 4/18/2023 | 3.4% | -3.9% | -2.5% |
| 1/17/2023 | -5.7% | -2.6% | 3.2% |
| 10/18/2022 | 4.7% | 7.6% | 5.7% |
| 7/19/2022 | 3.5% | 3.5% | 12.5% |
| 4/19/2022 | 0.0% | -5.2% | -7.4% |
| 1/18/2022 | 1.3% | -1.3% | 2.9% |
| 10/19/2021 | 7.9% | 6.2% | 8.4% |
| 7/20/2021 | 4.2% | 4.4% | 6.5% |
| 4/20/2021 | 9.0% | 13.4% | 20.3% |
| 1/20/2021 | -4.9% | -12.8% | -4.3% |
| 10/20/2020 | 3.2% | 0.8% | 26.2% |
| SUMMARY STATS | |||
| # Positive | 15 | 12 | 14 |
| # Negative | 9 | 12 | 9 |
| Median Positive | 2.4% | 4.5% | 9.8% |
| Median Negative | -1.7% | -3.2% | -4.3% |
| Max Positive | 9.0% | 13.4% | 26.2% |
| Max Negative | -6.0% | -12.8% | -10.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/12/2019 | 10-Q |
Recent Forward Guidance
Updated 7/27/2026Latest: Q2 2026 Earnings Reported 7/21/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Acquisition Closing Date | |||||||
Prior: Q1 2026 Earnings Reported 4/21/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Loan Growth | 4.0% | 5.0% | 0.0% | Affirmed | Guidance: 5.0% for 2026 | ||
| 2026 Deposit Growth | 1.0% | 2.0% | 0.0% | Affirmed | Guidance: 2.0% for 2026 | ||
Q4 2025 Earnings Reported 1/20/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Loan Growth | 5.0% | 2.0% | Higher New | Guidance: 3.0% for 2025 | |||
| 2026 Deposit Growth | 2.0% | -1.0% | Lower New | Guidance: 3.0% for 2025 | |||
Q3 2025 Earnings Reported 10/14/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Loan Growth | 1.0% | 3.0% | |||||
| 2025 Loan Growth | 1.0% | 3.0% | 0.5% | Raised | Guidance: 2.5% for 2025 | ||
| 2025 Deposit Growth | 1.0% | 3.0% | 0.5% | Raised | Guidance: 2.5% for 2025 | ||
Insider Activity
Updated 7/27/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Achary, Michael M | Chief Financial Officer | Direct | Sell | 7272026 | 76.18 | 22,694 | 1,728,829 | 3,364,081 | Form |
| 2 | Pickering, Christine L | Direct | Sell | 5262026 | 67.16 | 417 | 28,006 | 1,683,414 | Form | |
| 3 | Hairston, John M | President & CEO | Direct | Sell | 2102026 | 72.81 | 26,453 | 1,926,043 | 16,491,899 | Form |
| 4 | Pickering, Christine L | Direct | Sell | 2102026 | 73.03 | 1,082 | 79,018 | 1,762,507 | Form | |
| 5 | Hairston, John M | President & CEO | Direct | Sell | 2102026 | 74.36 | 37,000 | 2,751,320 | 18,810,028 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Achary, Michael M | Chief Financial Officer | Direct | Sell | 7272026 | 76.18 | 22,694 | 1,728,829 | 3,364,081 | Form |
| 2 | Pickering, Christine L | Direct | Sell | 5262026 | 67.16 | 417 | 28,006 | 1,683,414 | Form | |
| 3 | Hairston, John M | President & CEO | Direct | Sell | 2102026 | 72.81 | 26,453 | 1,926,043 | 16,491,899 | Form |
| 4 | Pickering, Christine L | Direct | Sell | 2102026 | 73.03 | 1,082 | 79,018 | 1,762,507 | Form | |
| 5 | Hairston, John M | President & CEO | Direct | Sell | 2102026 | 74.36 | 37,000 | 2,751,320 | 18,810,028 | Form |
| 6 | Ziluca, Christopher S | Chief Credit Officer | Direct | Sell | 1262026 | 68.57 | 5,227 | 358,415 | 2,283,481 | Form |
| 7 | Liollio, Dean | Direct | Sell | 11172025 | 58.48 | 5,328 | 311,588 | 1,736,507 | Form | |
| 8 | Achary, Michael M | Chief Financial Officer | Direct | Sell | 10202025 | 54.86 | 9,894 | 542,785 | 3,057,532 | Form |
| 9 | Hairston, John M | President & CEO | Direct | Sell | 10202025 | 54.65 | 21,883 | 1,195,906 | 14,811,337 | Form |
| 10 | Williams, Albert J | Direct | Buy | 7082025 | 56.38 | 23 | 1,285 | 97,187 | Form |
Investor Activity (13F)
Updated Aug 8, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Regional Banks Resources |
| Bank Director |
| Independent Banker |
| S&P Global Market Intelligence |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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