Hancock Whitney price target raised to $82 from $80 at Piper Sandler

Piper Sandler raised the firm’s price target on Hancock Whitney (HWC) to $82 from $80 and keeps an Overweight rating on the shares. The firm expects OFB Bancshares to add about $40M in net income in 2027, or 50c to EPS. This equates to about 7.5% EPS accretion on 2027’s, along with what Piper now calculates to be in the realm of 7.0% TBVPS dilation. Given the small size of the OFB balance sheet, the firm sees this as a very low-risk transaction from an integration perspective, and views the all-cash purchase as similar to the bank’s own share repurchase.