Selected stock price target news of the day - October 18th, 2023

By: Matthew Otto

Hancock Whitney Q3 2023: Steady Growth and Capital Position

Hancock Whitney Corporation has reported its third-quarter 2023 financial results, revealing a net income of $98 million, equivalent to $1.12 per share. This marks a decrease of $20 million, or $0.23 per share, from the previous quarter, primarily attributed to a disclosed charge-off of $29.7 million. The pre-provision net revenue for the quarter stood at $153 million, down by only $5 million compared to the preceding quarter. Notably, the net interest margin compression slowed to 3 basis points, outperforming the earlier guidance of 5 to 8 basis points.

In terms of balance sheet dynamics, total loans experienced a growth of $194 million in the third quarter, mainly driven by draws in multifamily real estate and mortgage projects. The composition of deposits witnessed a strategic shift, with total deposits increasing by $277 million. Core client deposits demonstrated growth, and the mix of demand deposit accounts to time deposits saw signs of stabilization. The DDA remix, however, showed signs of deceleration during the quarter, with 38% of deposits in DDAs by the end of the period. The Tier 1 ratio exceeded 10%, and the common equity Tier 1 (CET1) ratio was above 12%, reflecting the institution’s strong capital position.

Analyst Ratings Adjusted for Hancock Whitney

Raymond James analyst Michael Rose maintained an Outperform rating and lowered the price target from $46 to $45.
Stephens & Co. analyst Matt Olney reiterated an Equal-Weight rating and the price target at $42.

Which Analyst has the best track record to show on HWC?

Analyst Casey Haire (JEFFERIES) currently has the highest performing score on HWC with 3/3 (100%) price target fulfillment ratio. His price targets carry an average of $5.85 (14.12%) potential upside. Hancock Whitney Corporation stock price reaches these price targets on average within 61 days.

FB Financial Q3 2023 Financial Highlights

In FB Financial‘s Third Quarter 2023 Earnings Conference Call, the company showcased an earnings per share for the quarter that stood at $0.41, with an adjusted EPS of $0.71. FB Financial demonstrated strength in its balance sheet, with a Common Equity Tier 1 ratio of 11.8% and a tangible common equity to tangible assets ratio of 9.2%. Liquidity position remained formidable, with a securities portfolio plus loans staying under 100% of deposits.

Cost-cutting measures resulted in a $15 million reduction in core banking non-interest expenses. An additional of $5 million is anticipated by mid-January. While a pre-tax loss of $14.2 million was incurred in a securities trade, it is expected to contribute to improved net interest income in the fourth quarter and beyond. Furthermore, FB Financial’s net interest margin is projected to remain within the 3.30% to 3.40% range for the next few quarters.

Analyst Express Confidence and Upgraded FB Financial

Janney Montgomery Scott analyst Feddie Stickland upgraded from Neutral to Buy rating and announced a price target of $35.5.
Hovde Group analyst Brett Rabatin upgraded from Market Perform to Outperform.

Which Analyst has the best track record to show on FBK?

Analyst Alex Lau (JPMORGAN) currently has the highest performing score on FBK with 4/4 (100%) price target fulfillment ratio. His price targets carry an average of $0.68 (2.38%) potential upside. FB Financial stock price reaches these price targets on average within 9 days.

J.B. Hunt’s 3Q 2023 Earnings: Resilience and Strategic Moves

J.B. Hunt Transport Services revealed key financial insights during its Third Quarter 2023 earnings call. The company reported a 18% year-over-year decline in consolidated revenue, a trend attributed to lower freight volumes and yields. Operating income saw a drop of 33%, reflecting the impact of these market challenges.

The joint initiative with BNSF to improve intermodal capacity was a significant milestone, demonstrating the company’s commitment to addressing challenges in the freight cycle collaboratively. CFO John Kuhlow shared financial details, including an effective tax rate of 18.2% and a net capital spend expected to be around $1.6 billion for the year. The call provided a comprehensive overview of J.B. Hunt’s financial landscape and strategic moves in a dynamic industry.

Analyst Varied Ratings and Price Targets Reflect Market Dynamics

Stephens & Co. analyst Justin Long Reiterated Overweight rating and a $210 price target.
Raymond James analyst Patrick Tyler Brown Maintained Outperform rating and lowered price target from $205 to $200.
BMO Capital analyst Fadi Chamoun Kept a Market Perform rating and raised the price target from $190 to $200.

Which Analyst has the best track record to show on JBHT?

Analyst Ken Hoexter (BAML) currently has the highest performing score on JBHT with 13/13 (100%) price target fulfillment ratio. His price targets carry an average of $15.2 (12.25%) potential upside. J.B. Hunt Transport Services stock price reaches these price targets on average within 236 days.