Hancock Whitney Corporation (HWC) Reports In-Line Q4 EPS

Hancock Whitney Corporation (NASDAQ: HWC) reported Q4 EPS of $1.03, in-line with the analyst estimate of $1.03.

Highlights of the company’s fourth quarter 2019 results (compared to third quarter 2019):

• Reported net income of $92.1 million, or $1.03 per diluted share, up $24.3 million, or $.26 per share
• Nonoperating items totaled $3.9 million in 4Q19 and $28.8 million in 3Q19
• Excluding nonoperating items noted above, EPS was $1.06 in 4Q19 and $1.03 in 3Q19
• Operating leverage increased $0.6 million linked-quarter (revenue up $9.8 million, operating expense up $9.2 million)
• Energy loans decreased $71 million to $963 million, or 4.5% of total loans
• Criticized commercial loans declined $79 million, or 12% ($21 million energy, $58 million nonenergy)
• NIM improved by 2 bps to 3.43%
• TCE ratio down 37 bps to 8.45%; decrease mainly related to the accelerated share repurchase (ASR) agreement announced October 21, 2019

“We ended 2019 on a positive note, beating expectations with solid results,” said John M. Hairston, President & CEO. “EPS excluding merger costs was up 3% linked-quarter, our operating leverage increased quarter-to-quarter, loan growth was in line with guidance despite a reduction in our energy portfolio of over $70 million, our criticized loans decreased, our NIM expanded and our capital levels remained strong - even with the repurchase of shares in the quarter. As we kick off 2020, our team is focused on building upon positive momentum while capitalizing upon opportunities available in our markets.”

For earnings history and earnings-related data on Hancock Whitney Corporation (HWC) click here.

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