JPMorgan Chase & Co. cut its position in Hancock Holding Co. (NASDAQ:HBHC) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 652,176 shares of the financial services provider’s stock after selling 24,393 shares during the period. JPMorgan Chase & Co. owned 0.84% of Hancock Holding worth $17,029,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Hancock Holding by 77.0% in the second quarter. LS Investment Advisors LLC now owns 4,690 shares of the financial services provider’s stock worth $122,000 after buying an additional 2,041 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Hancock Holding by 39.9% in the first quarter. Envestnet Asset Management Inc. now owns 5,715 shares of the financial services provider’s stock worth $131,000 after buying an additional 1,630 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Hancock Holding during the first quarter worth approximately $142,000. Bank of Montreal Can purchased a new stake in Hancock Holding during the second quarter worth approximately $142,000. Finally, Shelton Capital Management purchased a new stake in Hancock Holding during the second quarter worth approximately $220,000. 81.16% of the stock is currently owned by institutional investors.
Shares of Hancock Holding Co. (NASDAQ:HBHC) traded down 0.59% during midday trading on Thursday, reaching $31.86. 202,563 shares of the company traded hands. The firm has a market capitalization of $2.47 billion, a PE ratio of 23.64 and a beta of 0.95. Hancock Holding Co. has a 1-year low of $20.01 and a 1-year high of $32.94. The stock has a 50 day moving average price of $31.71 and a 200 day moving average price of $27.41.
Hancock Holding (NASDAQ:HBHC) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.14. The firm had revenue of $229 million for the quarter, compared to analyst estimates of $229.18 million. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. Hancock Holding’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts expect that Hancock Holding Co. will post $1.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, September 6th were given 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 3.00%. Hancock Holding’s dividend payout ratio is currently 71.11%.
A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, July 26th. TheStreet upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Hovde Group raised their target price on shares of Hancock Holding from $27.00 to $32.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 26th. Jefferies Group restated a “hold” rating and set a $28.00 target price on shares of Hancock Holding in a research note on Thursday, July 7th. Finally, SunTrust Banks Inc. cut shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Monday, September 19th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.57.
In related news, EVP Stephen E. Barker sold 2,550 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $29.45, for a total value of $75,097.50. Following the sale, the executive vice president now owns 9,966 shares in the company, valued at $293,498.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider George A. Schloegel bought 4,633 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average price of $28.64 per share, for a total transaction of $132,689.12. Following the transaction, the insider now owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The disclosure for this purchase can be found here. 1.45% of the stock is owned by corporate insiders.
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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