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Hancock Whitney HWC shares soared 8.2% in the last trading session to close at $49.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.3% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to President Donald Trump’s recent announcement to put a 90-day pause on the reciprocal tariff for most countries.
This holding company of Whitney Bank and Hancock Bank is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $364.77 million, up 3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Hancock Whitney, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HWC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Hancock Whitney is part of the Zacks Banks - Southeast industry. Stock Yards Bancorp SYBT, another stock in the same industry, closed the last trading session 5.6% higher at $67.31. SYBT has returned -5.1% in the past month.
For Stock Yards , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1. This represents a change of +13.6% from what the company reported a year ago. Stock Yards currently has a Zacks Rank of #3 (Hold).
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Hancock Whitney Corporation (HWC) : Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).