Welcome to our dedicated page for Hancock Whitney news (Ticker: HWC), a resource for investors and traders seeking the latest updates and insights on Hancock Whitney stock.
Hancock Whitney Corporation reports developments tied to its regional banking franchise, financial performance and capital returns. The company is the parent of Hancock Whitney Bank, a full-service institution serving communities across the greater Gulf South through offices and financial centers in Mississippi, Alabama, Florida, Louisiana and Texas, with loan and deposit production offices in the Nashville and Atlanta metropolitan areas.
Recurring news includes quarterly earnings, loan and deposit trends, fee income from service charges and card activity, capital ratios, securities portfolio actions, dividend declarations and leadership changes. Company updates also describe traditional and online banking, commercial and small business banking, private banking, trust and investment services, healthcare banking and mortgage services.
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.
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