Hancock Holding Co. (NASDAQ:HBHC) – Equities researchers at Jefferies Group issued their Q1 2017 earnings estimates for shares of Hancock Holding in a report issued on Tuesday. Jefferies Group analyst E. Harmon anticipates that the brokerage will post earnings per share of $0.55 for the quarter. Jefferies Group has a “Hold” rating and a $28.00 price target on the stock. Jefferies Group also issued estimates for Hancock Holding’s Q2 2017 earnings at $0.62 EPS and Q3 2017 earnings at $0.65 EPS.
HBHC has been the topic of several other reports. SunTrust Banks Inc. cut Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Monday, September 19th. Piper Jaffray Cos. restated a “neutral” rating and issued a $29.00 price target (up from $27.50) on shares of Hancock Holding in a research note on Sunday, July 24th. Zacks Investment Research cut Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Hancock Holding in a research note on Wednesday. Finally, TheStreet upgraded Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Hancock Holding presently has a consensus rating of “Hold” and a consensus target price of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.46 on Thursday. The stock has a 50 day moving average price of $32.24 and a 200-day moving average price of $28.07. Hancock Holding has a 52 week low of $20.01 and a 52 week high of $33.39. The stock has a market cap of $2.52 billion, a P/E ratio of 24.08 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly 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. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. The business had revenue of $229 million for the quarter, compared to the consensus estimate of $229.18 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of 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 in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Hancock Holding during the second quarter worth $18,529,000. Foundry Partners LLC acquired a new stake in shares of Hancock Holding during the second quarter worth $10,758,000. Systematic Financial Management LP acquired a new stake in shares of Hancock Holding during the second quarter worth $8,629,000. Finally, Prudential Financial Inc. raised its stake in shares of Hancock Holding by 177.2% in the first quarter. Prudential Financial Inc. now owns 500,110 shares of the financial services provider’s stock worth $11,482,000 after buying an additional 319,708 shares in the last quarter. 81.16% of the stock is currently owned by institutional investors.
In related news, insider George A. Schloegel purchased 4,633 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were purchased 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 directly owns 257,351 shares in the company, valued at approximately $7,370,532.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stephen E. Barker sold 2,550 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $29.45, for a total value of $75,097.50. Following the transaction, the executive vice president now directly owns 9,966 shares in the company, valued at approximately $293,498.70. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, September 1st. Hancock Holding’s dividend payout ratio (DPR) 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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