Hancock Holding Co. (NASDAQ:HBHC)‘s stock had its “market perform” rating reaffirmed by Keefe, Bruyette & Woods in a note issued to investors on Wednesday.
Several other research firms have also recently issued reports on HBHC. Zacks Investment Research cut Hancock Holding from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. SunTrust Banks Inc. downgraded Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Monday, September 19th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $29.00 target price (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th. Hovde Group boosted their target price on Hancock Holding from $27.00 to $32.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. Finally, Bank of America Corp. raised Hancock Holding from an “underperform” rating to a “neutral” rating in a report on Friday, July 22nd. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.57.
Hancock Holding (NASDAQ:HBHC) opened at 32.10 on Wednesday. Hancock Holding has a 12 month low of $20.01 and a 12 month high of $33.39. The company has a market cap of $2.49 billion, a P/E ratio of 23.81 and a beta of 0.87. The firm has a 50-day moving average price of $32.22 and a 200 day moving average price of $28.01.
Hancock Holding (NASDAQ:HBHC) last released 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. The business earned $229 million during the quarter, compared to analysts’ expectations of $229.18 million. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. Equities research analysts predict that Hancock Holding will post $1.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, September 1st. Hancock Holding’s dividend payout ratio is presently 71.11%.
In related news, insider George A. Schloegel acquired 4,633 shares of Hancock Holding stock in a transaction on Thursday, August 4th. The stock was purchased at an average cost of $28.64 per share, with a total value of $132,689.12. Following the purchase, the insider now directly owns 257,351 shares in the company, valued at $7,370,532.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value of $75,097.50. Following the sale, the executive vice president now directly owns 9,966 shares of the company’s stock, valued at $293,498.70. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.
A number of hedge funds have recently bought and sold shares of HBHC. BlackRock Institutional Trust Company N.A. increased its stake 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 valued at $52,480,000 after buying an additional 36,628 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in Hancock Holding by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 1,495,817 shares of the financial services provider’s stock valued at $39,056,000 after buying an additional 194,334 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Hancock Holding during the first quarter valued at about $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 valued at $98,805,000 after buying an additional 208,608 shares during the last quarter. Finally, 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 valued at $54,372,000 after buying an additional 253,151 shares during the last quarter. 81.16% of the stock is owned by hedge funds and other institutional investors.
Hancock Holding Company Profile
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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