Hancock Whitney Corporation net worth and financial health are crucial for understanding its position among the biggest banks worldwide.
Join Ando Money as we explore their 2024 financial insights and market capitalization.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Hancock Whitney Corporation |
| Full Name | Hancock Whitney Corporation |
| Traded as | NASDAQ: HWC |
| ISIN | US4101201097 |
| Founded | 1899 |
| Founders | 19 individuals |
| Country/Territory | United States |
| Headquarters | Gulfport, Mississippi |
| Chief Executive Officer | John M. Hairston |
| Number of Employees | 3,564 |
| Market Cap | $3.94 billion |
| Total Assets | $52 billion |
| Total Equity | $3.9 billion |
| Revenue | N/A |
| Net Income | $108.6 million (Q1 2024) |
What is the Net Worth/Market Cap Of Hancock Whitney Corporation in 2024?
The market capitalization of Hancock Whitney Corporation in 2024 is $3.94 billion. This places it in the mid-tier range among American banks.
For context, consider other banks in the industry: Zions Bancorporation has a market cap of $8.08 billion, SVB Financial is at $2.37 million, and Morgan Stanley towers over with a hefty $149.6 billion.
While Hancock Whitney’s market cap is not the highest, it reflects a solid position in the banking sector. For those interested in comparing more banks, refer to the top American banks list.
Hancock Whitney Corporation Financial Performance Overview
Revenue Streams and Financial Performance
Hancock Whitney Corporation‘s revenue streams are diverse, contributing to its overall financial health.
The bank generates income from a variety of sources including interest income from loans, fees from services, and earnings from investments.
In the first quarter of 2024, the bank reported a net income of $108.6 million, translating to an earnings per share (EPS) of $1.24. This is a significant increase from the previous quarter’s net income of $50.6 million.
Asset Management and Valuation
Hancock Whitney manages a robust asset portfolio, crucial for maintaining its net worth. The total assets of the corporation stand at $52 billion.
These assets include a substantial loan portfolio, securities, and real estate holdings. The value of these assets is a major determinant of the bank’s financial strength.
The loan portfolio, in particular, saw an increase, with total loans amounting to $24 billion as of March 31, 2024.
Shareholder Equity and Market Value
Shareholder equity is a critical measure of a company’s financial stability. For Hancock Whitney, the shareholder equity is recorded at $3.9 billion. This equity provides a cushion against potential losses and supports the bank’s operations.
The market capitalization, or market cap, of $3.94 billion further illustrates the bank’s value as perceived by investors. These metrics are essential for understanding the financial backbone of Hancock Whitney.
Deposit and Loan Growth
The bank’s deposits have grown, reaching a total of $29.8 billion by the end of the first quarter of 2024.
This growth in deposits indicates customer trust and the bank’s ability to attract and retain funds. On the lending side, Hancock Whitney’s loan portfolio increased by $49 million, reflecting a steady demand for its lending services.
The loan-to-deposit ratio is an important metric, and for Hancock Whitney, it remains healthy, supporting its overall financial stability.
Financial Ratios and Metrics
Several key financial ratios help assess Hancock Whitney’s financial performance:
- Return on Average Assets (ROAA): 1.24%
- Return on Average Equity (ROAE): 11.44%
- Net Interest Margin (NIM): 3.32%
- Efficiency Ratio: 56.44%
These ratios provide insights into the bank’s profitability, operational efficiency, and ability to generate returns on its assets and equity.
Credit Quality and Risk Management
Hancock Whitney maintains strict credit risk management practices. The allowance for credit losses (ACL) was $340.8 million, covering 1.42% of total loans.
Nonperforming loans (NPLs) were kept low, contributing to the overall credit quality.
The provision for credit losses in the first quarter of 2024 was $13 million, down from $17 million in the previous quarter, indicating improving credit conditions.
Recent Acquisitions and Their Financial Impact
The bank has made strategic acquisitions to bolster its market presence and financial strength. These acquisitions have not only expanded Hancock Whitney’s footprint but also added to its asset base.
Notable acquisitions include the purchase of Whitney Holding Corporation in 2011 and the more recent acquisition of MidSouth Bank in 2019.
These acquisitions have had a positive impact on the bank’s financial performance by increasing its asset base and customer reach.
Capital Adequacy and Regulatory Compliance
Capital adequacy is crucial for Hancock Whitney. The Common Equity Tier 1 (CET1) ratio is estimated at 12.67%, well above regulatory requirements.
This strong capital position ensures that the bank can absorb potential losses and continue operations under various economic conditions.
Compliance with regulatory standards is maintained diligently, contributing to the bank’s stable financial outlook.
Future Outlook and Growth Prospects
Looking ahead, Hancock Whitney aims to continue its growth trajectory. The bank’s management has a positive outlook for future financial performance, expecting steady growth in revenue, loans, and deposits.
Potential risks include economic downturns and regulatory changes, but the bank is well-prepared to navigate these challenges.
The focus will remain on maintaining strong financial health and delivering value to shareholders and customers alike.
FAQs about Hancock Whitney Corporation
What is Hancock Whitney Corporation?
Hancock Whitney Corporation is a financial services company based in Gulfport, Mississippi. It offers a range of banking and financial products in the Gulf South region.
Where does Hancock Whitney operate?
The bank operates in Alabama, Florida, Louisiana, Mississippi, and Texas.
What is Hancock Whitney’s history?
Founded in 1899 as Hancock County Bank, it has grown through mergers, including the 2011 merger with Whitney Holding Corporation, becoming Hancock Whitney Corporation in 2018.
What are Hancock Whitney’s core values?
Hancock Whitney’s core values are service, integrity, teamwork, personal responsibility, and community focus.
How does Hancock Whitney support its community?
The bank engages in financial education, community reinvestment, and local event sponsorships to support economic growth and underserved communities.
What is Hancock Whitney’s approach to digital banking?
Hancock Whitney offers comprehensive online and mobile banking services with robust security features.
Who are the key executives at Hancock Whitney?
The leadership team includes experienced professionals guiding the bank’s strategic direction and operations.
How can I contact Hancock Whitney for more information?
Visit the Hancock Whitney website or contact their customer service. Their headquarters are in Gulfport, Mississippi.
Conclusion
Understanding Hancock Whitney Corporation’s net worth gives a clear view of its financial health. Share your thoughts, spread the word, or dive deeper into our content at andomoney.com.
