Hancock Whitney Corporation reported net income of $127.0 million, or $1.55 per diluted share, for the second quarter of 2026. This compares to net income of $47.4 million, or $0.57 per diluted share, in the the first quarter of 2026, which included a pretax charge of $98.6 million related to a securities portfolio restructure. Net income for the second quarter of 2025 was $113.5 million, or $1.32 per diluted share.

The company delivered organic growth with loans increasing $588 million, or 10% on a linked-quarter annualized basis, to $24.6 billion. Deposits grew $548 million, or 8% linked-quarter annualized, to $29.6 billion, driven by a $785 million increase in interest-bearing transaction and savings accounts. Net interest income (TE) was $295.2 million, an increase of 3% from the prior quarter, while the net interest margin (NIM) (TE) improved 1 basis point to 3.56%.

Noninterest income totaled $108.4 million, up $100.9 million from the first quarter of 2026, primarily due to the absence of the prior quarter's loss on securities portfolio restructure. Noninterest expense totaled $225.4 million, up 2% linked-quarter. The company achieved a return on average assets (ROA) of 1.42% and an efficiency ratio of 55.31%.

Asset quality remained stable with criticized commercial loans decreasing to $492.0 million and nonaccrual loans virtually flat at $113.7 million. The allowance for credit losses was $348.0 million, or 1.42% of period-end loans.

Acquisition Update

Hancock Whitney received regulatory approval from the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Mississippi Department of Banking and Consumer Finance to complete its acquisition of OFB Bancshares, Inc., the parent company of One Florida Bank. Shareholders of OFB Bancshares approved the merger agreement. The deal, announced on May 15, 2026, is expected to close on or about August 1, 2026.

Keefe, Bruyette & Woods analyst Catherine Mealor has maintained a Market Perform rating on Hancock Whitney and raised the price target to $78 from $72. This adjustment follows a separate update from Barclays, where analyst Jared Shaw maintained an Overweight rating and increased the target to $80 from $76.

The revised targets from both firms indicate increased confidence in the bank's stock performance potential. The rating updates follow reviews of Hancock Whitney's market position and financial outlook, signaling an expectation of further upside for shareholders.

Hancock Whitney operates as a financial services company. The Market Perform stance from Keefe, Bruyette & Woods suggests the stock is expected to perform in line with the broader market, while the Overweight rating from Barclays implies it may outperform its sector peers in the near term.

Investors holding Hancock Whitney shares may view the raised targets as a reinforcement of the stock's investment thesis.