Prudential Financial Inc. raised its position in shares of Hancock Holding Co. (NASDAQ:HBHC) by 23.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 619,216 shares of the financial services provider’s stock after buying an additional 119,106 shares during the period. Prudential Financial Inc. owned approximately 0.80% of Hancock Holding worth $16,167,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. 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 worth $52,480,000 after buying an additional 36,628 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Hancock Holding during the first quarter worth about $142,000. 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 last quarter. Wellington Management Group LLP increased its stake 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. acquired a new stake in Hancock Holding during the second quarter worth about $18,529,000. 81.16% of the stock is currently owned by institutional investors.
Shares of Hancock Holding Co. (NASDAQ:HBHC) traded up 1.310% during midday trading on Friday, hitting $32.085. 83,047 shares of the stock traded hands. The company’s 50 day moving average price is $31.75 and its 200-day moving average price is $27.44. Hancock Holding Co. has a 12-month low of $20.01 and a 12-month high of $32.94. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 23.802 and a beta of 0.95.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.14. The firm had revenue of $229 million for the quarter, compared to analysts’ expectations of $229.18 million. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. On average, equities research analysts expect that Hancock Holding Co. will post $1.81 EPS for the current year.
The company also recently declared 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. The ex-dividend date was Thursday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.03%. Hancock Holding’s payout ratio is 71.11%.
HBHC has been the topic of a number of recent research reports. SunTrust Banks Inc. downgraded shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Monday, September 19th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $29.00 price target (up previously from $27.50) on shares of Hancock Holding in a research note on Sunday, July 24th. Zacks Investment Research downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday. TheStreet raised shares of Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $28.00 price target on shares of Hancock Holding in a research note on Thursday, July 7th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Hancock Holding has a consensus rating of “Hold” and a consensus price target of $29.57.
In other news, EVP Stephen E. Barker sold 2,550 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $29.45, for a total transaction of $75,097.50. Following the transaction, the executive vice president now owns 9,966 shares of the company’s stock, valued at approximately $293,498.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider George A. Schloegel purchased 4,633 shares of the stock in a transaction dated Thursday, August 4th. The shares were purchased at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the transaction, the insider now owns 257,351 shares in the company, valued at approximately $7,370,532.64. The disclosure for this purchase can be found here. Insiders own 1.45% of the company’s stock.
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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