- Hancock Whitney's fourth quarter earnings were modestly disappointing at the pre-provision profit line, but ahead of expectations on an operating basis.
- Loan growth is picking up, and management is guiding for 6%-8% growth in 2022 that should be above peer average.
- Management is taking a conservative stance on rate hikes, but there's modestly above-average leverage to higher rates here, and cost reduction measures should drive lower opex year-over-year.
- With loan growth (at higher rates) absorbing excess liquidity, improving operating leverage, and potentially more reserve releases, Hancock Whitney still looks priced for outperfomance.
For further details see:
Self-Help And Improving End-Markets Driving Hancock Whitney To Market-Beating Performance