Hancock Whitney price target lowered to $46 from $50 at Truist

Truist lowered the firm’s price target on Hancock Whitney to $46 from $50 and keeps a Hold rating on the shares. Despite the core Q1 earnings beat, the firm sees limited upside to estimates considering below average loan growth over the next few quarters, the analyst tells investors in a research note. Truist adds that while it is not surprised by the unchanged 2024 outlook from Hancock Whitney there could be downside risk to estimates if second-half loan growth fails to accelerate and deposit costs move incrementally higher if Fed rate cuts are pushed into 2025.