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GULFPORT, Miss. - Hancock Whitney Corporation (NASDAQ:HWC), a $4.61 billion market cap financial institution currently trading near InvestingPro Fair Value, has received all necessary regulatory approvals to proceed with its acquisition of Sabal Trust Company, a non-depository trust firm based in Florida. The acquisition, initially announced on January 21, 2025, is expected to be finalized on May 2, 2025, pending the fulfillment of standard closing conditions.
Sabal Trust Company, Florida’s largest independent employee-owned trust company, reported revenues of $22.1 million for the year ending December 31, 2024, and manages approximately $3 billion in assets. The firm specializes in trust administration, investment management, and other financial services. According to InvestingPro data, Hancock Whitney has demonstrated strong financial health with a 5.03% revenue growth and maintains an impressive 3.36% dividend yield, having consistently paid dividends for 38 consecutive years.
Hancock Whitney, a financial institution with a history dating back to the late 1800s, offers a range of services including banking, private banking, investment, and mortgage services across several Southern states. The acquisition of Sabal Trust Company aims to enhance Hancock Whitney’s wealth management and trust services portfolio. The company’s strong financial position is reflected in its attractive P/E ratio of 10.18 and impressive one-year return of 20.04%.
The press release statement also included forward-looking statements regarding the anticipated benefits and synergies of the acquisition. However, it noted that actual results could differ due to various factors, such as the ability to retain customers and employees post-acquisition and the realization of cost savings.
This move is part of Hancock Whitney’s strategic efforts to expand its footprint in the wealth management sector. The financial details of the acquisition have not been disclosed. Information about this acquisition is based on a press release statement from Hancock Whitney Corporation.
In other recent news, Hancock Whitney Corporation reported impressive financial results for the third quarter of 2024, with earnings per share (EPS) reaching $1.40, surpassing the projected $1.28. Revenue slightly exceeded expectations, coming in at $367.5 million compared to the anticipated $365.13 million. In a move to enhance shareholder value, the company announced a 12.5% increase in its quarterly dividend, raising it to $0.45 per share. Analyst Matt Olney from Stephens upgraded the price target for Hancock Whitney shares to $74, maintaining an Overweight rating, citing strong fee income and effective cost management as key factors. Citi analysts also raised their price target to $70, highlighting the bank’s strategic balance sheet repositioning and recruitment efforts as drivers for future growth. Additionally, Raymond James increased their price target to $72, maintaining a Strong Buy rating due to Hancock Whitney’s better-than-expected fourth-quarter results and promising outlook for 2025. The bank’s recent acquisition plans, including the purchase of Sabal Trust Company, further underscore its growth strategy. These developments reflect Hancock Whitney’s robust financial health and strategic initiatives aimed at sustaining growth and enhancing shareholder returns.
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