Hancock Whitney Corporation Stock Rises After-Hours Following Q3 Earnings

Hancock Whitney Corp HWC shares are trading higher in Tuesday's after-hours session after the company reported third-quarter earnings.

What To Know: The company reported quarterly earnings of $1.12 per share, a 27.74% decrease over earnings of $1.55 per share from the same period last year.

The company reported quarterly sales of $355.21 million, which missed the analyst consensus estimate of $357.99 million, a 2.85% decrease over sales of $365.64 million from the same period last year.

Hancock Whitney Corporation also reported loan growth of $194 million, or 3% LQA.

"Third quarter of 2023 results reflect the continued strength and stability of our Company. Despite the ongoing challenges in today's operating environment, we were able to fully fund loan growth with client deposit growth. Our NIM compression moderated this quarter as deposit betas slowed despite the continued remix of DDAs, our funding mix improved, and we reported an improved earning asset yield. Aside from the previously disclosed idiosyncratic charge-off, our problem credit metrics remain at historically low levels and we do not see any broad weaknesses in our loan portfolio," said John M. Hairston, president and CEO.

HWC Price Action: Shares of HWC were up 1.53% at $37.10 at the time of publication in the after-hours session, according to Benzinga Pro.

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Photo: Nattanan Kanchanaprat from Pixabay