Following BB&T's (BBT) recent bank comments regarding acquisitions and clarifications of its parameters, Jefferies analyst Ken Usdin identified six regional banks as potential takeover targets: BancorpSouth (BXS), First Horizon (FHN), Hancock Whitney (HWC), Iberiabank (IBKC), Pinnacle Financial (PNFP) and United Bankshares (UBSI). First Horizon and Iberiabank "look the best-fitting solely from a number perspective," Usdin tells investors in a research note. The analyst believes BB&T could pay "sizable control premiums" for both, namely 28% Iberiabank and 15% for First Horizon, while achieving earnings accretion in year one.

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Truist lowered the firm's price target on Hancock Whitney to $46 from $50 and keeps a Hold rating on the shares. Despite the core Q1 earnings beat, the firm sees limited upside to estimates considering below average loan growth over the next few quarters, the analyst tells investors in a research note. Truist adds that while it is not surprised by the unchanged 2024 outlook from Hancock Whitney there could be downside risk to estimates if second-half loan growth fails to accelerate and deposit costs move incrementally higher if Fed rate cuts are pushed into 2025.

"We reported a strong quarter with 10% growth in adjusted net income available to common shareholders from the fourth quarter. We achieved positive operating leverage versus the prior quarter, as revenue increased and expenses declined. Revenue growth was driven by margin expansion in the core banking franchise, as well as significant improvement in our counter-cyclical businesses," said chairman, president and CEO Bryan Jordan. "Credit quality remains stable, and our strong capital and liquidity position us to continue to win new client relationships and deepen existing ones."

Citi analyst Benjamin Gerlinger upgraded Hancock Whitney to Buy from Neutral with a price target of $50, up from $48. The analyst says the market is "unfairly pricing in a dour credit outlook" across the regional bank space. Hancock's outsized capital base and solid deposit pricing trends "check the boxes investors need to see before valuation multiples can start to normalize," the analyst tells investors in a research note. The firm believes the bank's "healthy" reserve levels and thorough explanation of credit trends will likely assuage most fears.