Hancock Whitney Feeling More Of A Macro Pinch

Jan. 25, 2023 12:23 AM ETHancock Whitney Corporation (HWC)
Stephen Simpson profile picture
Stephen Simpson


  • Hancock Whitney was an outlier in the wrong way with fourth quarter results that included a top-line miss, though good operating leverage mitigated some of the damage.
  • Management is taking a more conservative stance, including pulling back on CRE lending, but the bank continues to stand out with a low deposit beta and good profitability numbers.
  • Higher provisioning will weigh on results in FY'23 and FY'24, and net interest margin is likely near a peak, but pre-provision profit growth should stand out in FY'23.
  • Sentiment remains a challenge for bank stocks, but Hancock looks undervalued below $60.
birds flying in the sunset swamp

Jaimie Tuchman/iStock via Getty Images

Gulfport-based Hancock Whitney (NASDAQ:HWC) has been a little frustrating here of late, as the shares have started lagging some of its regional banking peers. While I can understand some concern over peaking net interest margin and more caution from management

This article was written by

Stephen Simpson profile picture
Stephen Simpson is a freelance financial writer and investor. Spent close to 15 years on the Street (sell-side, buy-side, equities, bonds); now a semi-retired raccoon rancher. That last part isn't entirely true. Probably.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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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