Hancock Whitney price target lowered to $50 from $55 at Stephens

Stephens lowered the firm’s price target on Hancock Whitney to $50 from $55 and keeps an Equal Weight rating on the shares. Hancock reported Q4 EPS and PPNR results above consensus forecast, but the results were noisy and included several one-time items that were previously disclosed, the analyst tells investors. The firm continues to expect NIM expansion in the first half of 2024, but should the Fed cut the funds rate more aggressively than forecast in 2024, Stephens would anticipate incremental pressure on Hancock’s EPS and PPNR outlook.