Hancock Whitney falls 10.20% on day it agrees to buy Trustmark
The pick
Hancock Whitney (HWC) had the biggest jump in trading volume compared with its usual level, at 8.0x its 30-day average. The stock fell 10.20% to $65.00.
What happened
On November 12, 2026, Hancock Whitney and Trustmark (TRMK) announced a definitive merger agreement. Trustmark will merge into Hancock Whitney in an all-stock deal valued at approximately $3.2 billion.
Hancock Whitney will issue 0.7463 shares of its common stock for each Trustmark share. The company said that, based on its November 11, 2026 closing price, this implies a transaction value of approximately $3.2 billion.
The release included the company's own projections, which are not results. It said the company expects the deal to be approximately 7% accretive to its 2028 estimated earnings per share, mildly dilutive to regulatory capital at close, and approximately 7% dilutive to tangible book value per share. It also gave an earn-back period of approximately 2.8 years including merger expenses.
The release said that at close, Hancock Whitney shareholders will own approximately 65% of the combined company and Trustmark shareholders approximately 35%. It described the combined bank as having approximately $58 billion in assets and a presence across six Southeastern states. The release said the companies expect the merger to close late in the first quarter of 2027, subject to regulatory approvals, approval by both companies' shareholders, and other customary closing conditions.
Source: [SEC filing]
The numbers
Previous close: $72.38
Close: $65.00
Change: -10.20%
Volume: 6,680,221
30-day average volume: 834,467
Volume multiple: 8.0x
Behind the move: a company press release
HWC's most unusual trading day in our data, which goes back to December 2016
Its sector (Financials, XLF) moved -0.72% that day
What to watch
The companies' release says the merger is expected to close late in the first quarter of 2027, subject to regulatory approvals and shareholder approval at both companies.
Source: [SEC filing]
Pro: HWC has had 2 earlier days at 5x+ normal volume since 2016. Pro members see what it did over the next 5 and 20 trading days after each one. See Pro
More coverage
Hancock Whitney Corporation to Acquire Trustmark Corporation (Yahoo Finance)
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