Hancock Whitney Corporation: 2Q26 Review

研报英文原文证据摘录

Hancock Whitney Corporation: 2Q26 Review

hares and $80 price target. Source: Bloomberg

NII/NIM: NII increased 2.8% Q/Q to $293.0MM (vs our +0.6% est.), while NIM of 3.56% was in line Price Performance Exchange-Nasdaq

with our estimate but 2bps below consensus. Higher average earning assets, stronger loan 52 Week range USD 79.36-54.05

balances, and improved securities yields offset modest pressure on loan yields. Loan yields

declined 2bps Q/Q as competitive conditions remained intense, though average loans increased

by $374MM. Cost of deposits declined 4bps to 1.43%, benefiting from CD repricing, but

management indicated that tailwind is largely exhausted and now expects deposit costs to

increase ~10bps from 2Q through year-end. While pricing is reportedly rational, HWC is offering

promo rates in the 3.75-4.00% range and is doing some CD promos in Orlando related to the

OFB acquisition. Management expects NIM to remain flat to slightly higher in 2H26, supported

Source: IDC

by balance sheet growth and some fixed rate asset repricing. We reduce FY27/FY28 NIM forecasts Link to Barclays Live for interactive charting

to 3.65% from 3.68% and 3.72% from 3.73%, respectively, reflecting a somewhat higher funding

cost outlook, but our NII estimates move higher by ~1% in each year, reflecting better loan

U.S. Mid-Cap Banks

growth. Jared Shaw

+1 617 342 4101

Balance Sheet: Loans increased $588MM Q/Q, or 2.4%, better than expected as production

jared.shaw@barclays.com

reached $1.5B and growth was spread across commercial banking, middle market, healthcare, BCI, US

and CRE. Line utilization improved to 41.1% from 40.7%, and SNC balances increased to $2.4B

Jonathan Raufrom $2.1B last quarter, suggesting roughly half of quarterly growth came from that category.

+1 617 342 4283