Hancock Whitney price target raised to $55 from $51 at Piper Sandler

Piper Sandler analyst Stephen Scouten raised the firm’s price target on Hancock Whitney to $55 from $51 and keeps an Overweight rating on the shares. The firm notes Q4 2023 results came in better-than-expected, with the upside coming from a higher PPNR – with better net interest income, fees, and expenses than it had modeled. Furthermore, Hancock is expecting to see PPNR decline only 1%-2% from 2023 and for the net interest margin to have troughed in Q4 2023, Piper adds.