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PNC - Hancock Whitney Performing Well As The Economy Starts To Reopen
PNC Financial Services Group Inc.
Hancock Whitney posted another quarter of solidly positive pre-provision outperformance, with better-than-expected spread and fee income, as well as positive operating leverage and better loan growth.
New Orleans' large hospitality sector should benefit from more tourist events later in the year, and Hancock can take advantage of both self-help and disruptive in-market M&A.
Mid-single-digit core earnings growth can still support a double-digit expected return from here.