Shares of Hancock Whitney Corp. (HWC) plunged 5.05% in intraday trading on Wednesday, as investors reacted to the company's third-quarter results and an analyst's target price reduction. The significant drop comes after the stock had already shown weakness in pre-market trading.

The selloff intensified throughout the morning, with shares initially down 1.3% in pre-market trading following the release of the company's Q3 results. By mid-morning, the decline had steepened to 2.6%, indicating growing investor concern over the financial institution's performance.

Adding to the downward pressure, Raymond James analysts cut their target price for Hancock Whitney Corp. from $73 to $72. This adjustment, while relatively small, suggests that even industry experts are recalibrating their expectations for the company's future performance in light of the recent financial results.