Citi ups Hancock Whitney target, opens ‘positive catalyst watch’

Citi raised the firm’s price target on Hancock Whitney to $55 from $50 and keeps a Buy rating on the shares. The analyst also opened a “90-day positive catalyst watch” on the shares. The firm expects a large share repurchase authorization announcement sometime in Q2. The analyst finds partial deployment of Hancock’s roughly 200 basis points of excess capital as being a “clear catalyst” to potentially re-rate shares higher and drive incremental earnings upside to consensus 2025 estimates.