Shares of Hancock Holding Co. (NASDAQ:HBHC) have been given an average recommendation of “Hold” by the twelve analysts that are presently covering the firm. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $29.60.
Several analysts recently issued reports on HBHC shares. Zacks Investment Research lowered Hancock Holding from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Jefferies Group restated a “hold” rating and set a $28.00 target price on shares of Hancock Holding in a report on Thursday, July 7th. TheStreet upgraded Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Bank of America Corp. upgraded Hancock Holding from an “underperform” rating to a “neutral” rating in a report on Friday, July 22nd. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $29.00 target price (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th.
In other Hancock Holding news, insider George A. Schloegel purchased 4,633 shares of the stock in a transaction dated Thursday, August 4th. The shares were bought at an average cost of $28.64 per share, with a total value of $132,689.12. Following the completion of the transaction, the insider now owns 257,351 shares in the company, valued at approximately $7,370,532.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value of $75,097.50. Following the completion of the sale, the executive vice president now directly owns 9,966 shares in the company, valued at $293,498.70. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Hancock Holding by 5.4% in the second quarter. Vanguard Group Inc. now owns 5,836,695 shares of the financial services provider’s stock worth $152,396,000 after buying an additional 298,416 shares during the period. Dimensional Fund Advisors LP increased its stake in Hancock Holding by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,147,260 shares of the financial services provider’s stock worth $134,392,000 after buying an additional 729,019 shares during the period. State Street Corp increased its stake in Hancock Holding by 5.1% in the first quarter. State Street Corp now owns 4,302,929 shares of the financial services provider’s stock worth $98,805,000 after buying an additional 208,608 shares during the period. BlackRock Fund Advisors increased its stake in Hancock Holding by 1.1% in the second quarter. BlackRock Fund Advisors now owns 3,867,641 shares of the financial services provider’s stock worth $100,984,000 after buying an additional 41,071 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Hancock Holding by 2.0% in the second quarter. Macquarie Group Ltd. now owns 2,513,013 shares of the financial services provider’s stock worth $65,615,000 after buying an additional 48,707 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.76 on Friday. The firm has a market cap of $2.54 billion, a PE ratio of 24.30 and a beta of 0.87. Hancock Holding has a 52 week low of $20.01 and a 52 week high of $33.35. The firm’s 50-day moving average price is $32.05 and its 200 day moving average price is $27.79.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.14. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. The business earned $229 million during the quarter, compared to analyst estimates of $229.18 million. During the same period last year, the company earned $0.51 earnings per share. Hancock Holding’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Hancock Holding will post $1.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, September 1st. Hancock Holding’s dividend payout ratio is currently 71.11%.
About Hancock Holding
Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The Company operates through overall banking operations segment. Whitney Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas.
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