According to Zacks, “Hancock continues to streamline its business in order to reduce costs and improve efficiency. Moreover, the company’s strategic initiatives are expected to accelerate revenue generation going forward. Also, its deposits growth will help lower the funding costs, thereby leading to a meaningful deployment of capital generated from these deposits. However, persistent margin compression is a matter of concern, unless there is a significant change in the prevailing interest rate environment and loan growth. Also, stringent regulations and the impact of exposure to energy sector loans continue to affect the company’s financials in the near-term.”
Several other equities research analysts also recently commented on HBHC. SunTrust Banks Inc. downgraded shares of Hancock Holding from a buy rating to a neutral rating and set a $34.00 price objective for the company. in a research note on Monday, September 19th. Piper Jaffray Cos. reiterated a neutral rating and set a $29.00 price objective (up from $27.50) on shares of Hancock Holding in a research note on Sunday, July 24th. TheStreet upgraded shares of Hancock Holding from a hold rating to a buy rating in a research note on Thursday, July 14th. Jefferies Group reiterated a hold rating and set a $28.00 price objective on shares of Hancock Holding in a research note on Thursday, July 7th. Finally, Bank of America Corp. upgraded shares of Hancock Holding from an underperform rating to a neutral rating in a research note on Friday, July 22nd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) traded up 0.51% on Monday, reaching $31.42. 65,231 shares of the company traded hands. The company has a 50-day moving average of $31.64 and a 200-day moving average of $27.33. Hancock Holding has a 1-year low of $20.01 and a 1-year high of $32.94. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 23.31 and a beta of 0.95.
Hancock Holding (NASDAQ:HBHC) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. The company earned $229 million during the quarter, compared to the consensus estimate of $229.18 million. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%. Hancock Holding’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. Analysts anticipate that Hancock Holding will post $1.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were issued a $0.24 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.07%. Hancock Holding’s payout ratio is 71.11%.
In other news, insider George A. Schloegel acquired 4,633 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was bought at an average price of $28.64 per share, with a total value of $132,689.12. Following the completion of the acquisition, the insider now owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of Hancock Holding stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $29.45, for a total transaction of $75,097.50. Following the completion of the transaction, the executive vice president now directly owns 9,966 shares of the company’s stock, valued at approximately $293,498.70. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBHC. BlackRock Institutional Trust Company N.A. boosted its position in Hancock Holding by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,285,736 shares of the financial services provider’s stock worth $52,480,000 after buying an additional 36,628 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Hancock Holding during the first quarter worth $142,000. State Street Corp boosted its position 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 last quarter. Wellington Management Group LLP boosted its position in Hancock Holding by 12.0% in the first quarter. Wellington Management Group LLP now owns 2,368,154 shares of the financial services provider’s stock worth $54,372,000 after buying an additional 253,151 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Hancock Holding during the second quarter worth $18,529,000. 81.16% of the stock is owned by institutional investors.
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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