Hancock Whitney price target lowered to $72 from $73 at Raymond James

Raymond James lowered the firm’s price target on Hancock Whitney (HWC) to $72 from $73 and keeps a Strong Buy rating on the shares. The Q3 results exceeded consensus estimates, and were relatively solid reflecting fee income momentum, expense control, benign credit trends, ongoing capital return, and robust profitability, the analyst tells investors in a research note. While its full-year outlook was reiterated excluding a reduction to its pre-provision net revenue guidance from 6%-7% to 5%-6%, a notable rebound in deposits in Q4 is needed to meet the low-end of its full-year NII/PPNR guidance ranges, the firm argues.