I liked Hancock Whitney (NASDAQ:HWC) (“Hancock”) back in February of this year, seeing not only self-improvement potential in a bank that had admittedly underperformed heading into the pandemic, but also a “get better or get bought” safety net
Hancock Whitney Performing Well As The Economy Starts To Reopen
Summary
- Hancock Whitney posted another quarter of solidly positive pre-provision outperformance, with better-than-expected spread and fee income, as well as positive operating leverage and better loan growth.
- New Orleans' large hospitality sector should benefit from more tourist events later in the year, and Hancock can take advantage of both self-help and disruptive in-market M&A.
- Mid-single-digit core earnings growth can still support a double-digit expected return from here.
Stephen Simpson is a freelance financial writer and investor.Spent close to 15 years on the Street (sell-side, buy-side, equities, bonds).
Analyst’s Disclosure:I/we have a beneficial long position in the shares of FHN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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