I liked Hancock Whitney (HWC) back in July due to its combination of valuation, leverage to loan growth recovery in 2022, and self-help potential on expenses. While the COVID-19 pandemic has still had some negative impacts on the company’s core markets, the business has nevertheless been executing well and the shares are up almost 25% since that last article – handily beating not only the S&P 500, but also regional banks as a group.
I still like the story at Hancock, and I think the combination of loan growth, expense leverage, and rate leverage will serve the company well. While expectations are quite a bit higher now, and I do have some concerns about the year-over-year growth in pre-provision profits for 2022, I do still see double-digit upside for this name, and I consider it an under-followed name in the regional bank space.
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Self-Help And Improving End-Markets Driving Hancock Whitney To Market-Beating Performance
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