Hancock Whitney reports Q1 EPS $1.45, consensus $1.43

Reports Q1 pre-provision net revenue $167.0M vs. compared to $185.0M in Q4 of FY22. "The first quarter of 2023 was a solid start to the year, despite challenges to our industry following recent bank failures," said John M. Hairston, CEO. "We continue to operate with strong liquidity, solid capital, and a stable, seasoned deposit base that is well-diversified among consumer, commercial, and wealth clients. Results for the quarter reflect both core client deposit and loan growth, relatively stable asset quality metrics, and a solid allowance for credit losses. We also ended the quarter with strong liquidity and improved capital ratios. Continued rate hikes and the current banking environment have led to increased deposit costs, in turn, compressing NIM and impacting our efficiency ratio. However, our goal of maintaining an efficiency ratio at or below 55% remains, and we will continue to proactively manage expenses and seek opportunities to enhance revenue in order to meet our CSOs."