Hancock Whitney Corporation - HWC STOCK NEWS

Hancock Whitney Corporation (Nasdaq: HWC) reported first quarter 2023 net income of $126.5 million, or $1.45 per diluted share, down from $143.8 million in Q4 2022. However, this figure is up from $123.5 million in Q1 2022. Key financial highlights include pre-provision net revenue of $167.0 million and total deposits growing by $542.7 million, a 7% increase. Loan growth was $290.5 million, or 5%. The net interest margin fell by 13 basis points to 3.55%, with total loans at $23.4 billion. The company maintained a strong capital position, with a CET1 ratio of 11.61%. Despite industry pressures, management anticipates flat to low single-digit growth in year-end deposit levels for 2023.

Hancock Whitney Corporation (NASDAQ: HWC) will release its first quarter 2023 financial results on April 18, 2023, after market close. A conference call to discuss these results is scheduled for 4:00 p.m. Central Time on the same day. Investors can access a live webcast on Hancock Whitney's website. For Q&A participation, callers should dial 888-210-2654 or 646-960-0278 with access code 6914431. An audio archive of the call will be available until April 25, 2023.

Hancock Whitney offers a variety of financial services across multiple states, including Mississippi, Alabama, Florida, Louisiana, and Texas.

Hancock Whitney Corporation (NASDAQ: HWC) announced a first-quarter 2023 common stock cash dividend of $0.30 per share, reflecting an 11% increase from the prior period. This dividend will be payable on March 15, 2023, to shareholders on record as of March 6, 2023. Additionally, the company authorized a new stock buyback program, allowing the repurchase of up to 4,297,000 shares (approximately 5% of outstanding shares) before its expiration on December 31, 2024. This replaces the previous program and aims to enhance shareholder value.

Hancock Whitney Corporation (Nasdaq: HWC) reported a net income of $143.8 million for Q4 2022, translating to $1.65 per diluted share, up from $135.4 million in Q3 2022. The pre-provision net revenue (PPNR) increased by 6% to $185 million. Total loans grew by $528.5 million (9% linked-quarter), while deposits rose by $119.1 million (2% linked-quarter). The net interest margin (NIM) improved to 3.68%, and criticized commercial loans and nonperforming loans remained historically low. However, noninterest income declined by 10% due to reduced service charges and secondary mortgage fees. Management forecasts modest loan and deposit growth for 2023.

Hancock Whitney Corporation (NASDAQ: HWC) is set to announce its fourth quarter 2022 financial results on January 17, 2023, following market closure. A conference call for analysts and investors will take place at 4:00 p.m. Central Time on the same day. Interested parties can listen live via the company's Investor Relations website. The call will include a Q&A segment, accessible by dialing designated phone numbers. A replay will be available until January 24, 2023.

Hancock Whitney Corporation (NASDAQ: HWC) has declared a fourth-quarter 2022 cash dividend of $0.27 per share, payable on December 15, 2022 to shareholders on record as of December 5, 2022. The company has maintained an uninterrupted quarterly dividend since 1967, reflecting its stability and commitment to returning value to shareholders.

Hancock Whitney Corporation (Nasdaq: HWC) reported a net income of $135.4 million or $1.55 per diluted share for Q3 2022, up from $121.4 million or $1.38 in Q2 2022. PPNR was $174.7 million, a 19% increase linked-quarter. Loan growth reached $739.5 million, while deposits decreased by $915.2 million or 12%. The net interest margin increased by 50 basis points to 3.54%. Despite a slight rise in criticized commercial loans, nonperforming loans remained low. The CET1 ratio was up to 11.12%. The company repurchased 50,000 shares during the quarter as part of its ongoing buyback program.