NASDAQ$HWC
Hancock Whitney Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported solid results despite impacts of Hurricane Ida and the COVID-19 Delta surge.
Hancock Whitney reported net income of $129.6 million, or $1.46 per diluted common share (EPS) for Q3 2021. The quarter included ($1.4) million of net nonoperating income items, including Hurricane Ida expenses and a gain from the sale of Hancock Horizon Funds.
- Pre-provision net revenue (PPNR) totaled $134.8 million, down $2.4 million, or 2%, linked-quarter
- Core loan growth of $219.7 million, offset by the impact of $482.2 million in PPP loan forgiveness leading to an overall decline in total loans of $262.5 million
- Deposits decreased $65.0 million linked-quarter; noninterest-bearing demand deposits increased $247.0 million
- $28.8 million reserve release and $1.8 million in net charge-offs led to a negative provision for credit losses of $27.0 million
Headline financials
Revenue & EPS history
Hancock Whitney · Revenue · Quarterly
$328M
Revenue by segment
Hancock Whitney · $34.5M total across 2 segments · Q2 2021
- Other income$18.2M—52.8%
- Trust fees$16.3M—47.2%
Forward guidance
Management expects year-end loans to total approximately $20.4 billion, or a 3% increase year-over-year. Management expects continued NIM compression in the fourth quarter of 2021 with net interest income down slightly linked-quarter. Capital is strong and we 1 expect to achieve an 8% TCE, or better, by year-end 2021. We view third quarter of 2021 and near term guidance as continued momentum toward 2022 and our path to a 55% efficiency ratio.
Tailwinds
- Core loan growth momentum continued
- DDA deposits increased during the quarter
- Net interest income was steady in the quarter
- Operating expense was steady in the quarter
- Asset quality metrics continue to improve
Headwinds
- Impacts of Hurricane Ida
- Impacts of the COVID-19 Delta surge
- Slight compression in the NIM
- Fees were lower linked-quarter, mainly the result of secondary mortgage volume reductions
- Fees were lower linked-quarter as well as the result of waivers and activity related to Hurricane Ida disruption
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.7%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+4.1%
Avg return
30 days after
59%
41 / 69 earnings
Positive
+8.1%
Q2 2021
Best reaction
-8.4%
Q1 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | -1.2% | -1.5% | |
| Q4 2025 | +2.4% | -0.3% | +5.3% | |
| Q3 2025 | -6.3% | -9.5% | -6.2% | |
| Q2 2025 | -2.2% | -1.3% | +3.3% | |
| Q1 2025 | -0.3% | -1.0% | +16.6% | |
| Q4 2024 | +1.0% | -0.2% | -1.7% | |
| Q3 2024 | +0.5% | -1.6% | +12.0% | |
| Q2 2024 | +6.7% | +5.0% | -3.2% | |
| Q1 2024 | +0.1% | +3.9% | +12.5% | |
| Q4 2023 | -2.2% | +0.7% | -2.3% | |
| Q3 2023 | -1.9% | -6.2% | +14.4% | |
| Q2 2023 | +5.0% | -0.0% | -2.7% | |
| Q1 2023 | +1.0% | -2.1% | -4.1% | |
| Q4 2022 | -6.8% | -5.5% | +0.0% | |
| Q3 2022 | +4.9% | +2.8% | +4.8% | |
| Q2 2022 | +7.7% | +6.2% | +18.6% | |
| Q1 2022 | +4.5% | -0.8% | -3.9% | |
| Q4 2021 | +0.4% | -2.6% | -1.9% | |
| Q3 2021 | +7.4% | +7.7% | +8.0% | |
| Q2 2021 | +8.1% | +7.5% | +9.1% | |
| Q1 2021 | +2.8% | +4.5% | +12.8% | |
| Q4 2020 | -6.2% | -7.2% | -5.7% | |
| Q3 2020 | +6.8% | +10.5% | +30.8% | |
| Q2 2020 | -7.9% | -2.1% | +10.2% | |
| Q1 2020 | +5.8% | -3.2% | +10.6% | |
| Q4 2019 | -0.9% | -1.2% | -8.3% | |
| Q3 2019 | +0.1% | +2.0% | +8.8% | |
| Q2 2019 | +3.1% | +5.1% | -9.4% | |
| Q1 2019 | +0.5% | -1.9% | -5.7% | |
| Q4 2018 | +7.8% | +11.4% | +12.4% | |
| Q3 2018 | -1.9% | -5.9% | -10.2% | |
| Q2 2018 | +4.8% | +6.7% | +6.8% | |
| Q1 2018 | -7.9% | -8.2% | -0.8% | |
| Q4 2017 | +4.3% | +4.4% | +0.7% | |
| Q3 2017 | +0.3% | +3.0% | -1.4% | |
| Q2 2017 | -6.6% | -7.1% | -13.7% | |
| Q1 2017 | +1.1% | +4.1% | +5.1% | |
| Q4 2016 | +0.6% | +1.2% | +6.2% | |
| Q3 2016 | +5.0% | +4.6% | +24.9% | |
| Q2 2016 | +4.6% | +5.2% | +11.5% | |
| Q1 2016 | +5.5% | — | — | |
| Q4 2015 | +5.3% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | -1.5% | — | — | |
| Q1 2015 | -3.7% | — | — | |
| Q4 2014 | +2.9% | — | — | |
| Q3 2014 | +1.6% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | +2.0% | — | — | |
| Q4 2013 | -3.5% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | -1.5% | — | — | |
| Q1 2013 | -8.4% | — | — | |
| Q4 2012 | -5.4% | — | — | |
| Q3 2012 | +3.0% | — | — | |
| Q2 2012 | -0.5% | — | — | |
| Q1 2012 | +1.7% | — | — | |
| Q4 2011 | +0.9% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q2 2011 | -0.5% | — | — | |
| Q1 2010 | -1.3% | — | — | |
| Q1 2011 | +1.9% | — | — | |
| Q4 2009 | -0.8% | — | — | |
| Q4 2010 | -0.8% | — | — | |
| Q4 2008 | -0.8% | — | — | |
| Q3 2010 | +4.7% | — | — | |
| Q3 2009 | +4.7% | — | — | |
| Q2 2009 | -1.4% | — | — | |
| Q2 2010 | -1.4% | — | — |
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