Hancock Holding Company (NASDAQ:HBHC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Several other research firms have also commented on HBHC. Stephens reissued a “hold” rating on shares of Hancock Holding Company in a research report on Friday, April 28th. Zacks Investment Research raised shares of Hancock Holding Company from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Monday, March 20th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 price target on shares of Hancock Holding Company in a research report on Thursday, April 20th. Raymond James Financial, Inc. raised shares of Hancock Holding Company from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $48.00 to $54.00 in a research report on Thursday, March 16th. Finally, Piper Jaffray Companies raised shares of Hancock Holding Company from a “neutral” rating to an “overweight” rating in a research report on Friday, May 12th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Hancock Holding Company currently has a consensus rating of “Buy” and an average target price of $45.33.
Hancock Holding Company (HBHC) opened at 46.80 on Friday. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 19.61 and a beta of 0.85. Hancock Holding Company has a 52 week low of $23.78 and a 52 week high of $52.94. The company has a 50 day moving average of $47.88 and a 200 day moving average of $45.91.
Hancock Holding Company (NASDAQ:HBHC) last released its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. Hancock Holding Company had a net margin of 19.25% and a return on equity of 7.65%. The company had revenue of $245.18 million during the quarter, compared to analyst estimates of $245.23 million. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, equities analysts forecast that Hancock Holding Company will post $2.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Monday, June 5th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.96 annualized dividend and a yield of 2.07%. Hancock Holding Company’s dividend payout ratio (DPR) is presently 40.17%.
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In related news, CEO John M. Hairston sold 41,903 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $47.81, for a total value of $2,003,382.43. Following the transaction, the chief executive officer now owns 73,544 shares in the company, valued at approximately $3,516,138.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Roseberry sold 1,407 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $48.00, for a total transaction of $67,536.00. Following the completion of the transaction, the director now owns 14,707 shares in the company, valued at approximately $705,936. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,669 shares of company stock worth $3,424,090. 1.15% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Hancock Holding Company by 5.6% in the fourth quarter. State Street Corp now owns 4,006,922 shares of the financial services provider’s stock valued at $172,699,000 after buying an additional 212,368 shares during the period. Bank of Montreal Can increased its position in shares of Hancock Holding Company by 7.7% in the first quarter. Bank of Montreal Can now owns 7,662 shares of the financial services provider’s stock valued at $349,000 after buying an additional 545 shares during the period. Norges Bank acquired a new position in shares of Hancock Holding Company during the fourth quarter valued at $37,315,000. First Citizens Bank & Trust Co. acquired a new position in shares of Hancock Holding Company during the first quarter valued at $294,000. Finally, Nationwide Fund Advisors increased its position in shares of Hancock Holding Company by 12.3% in the first quarter. Nationwide Fund Advisors now owns 328,650 shares of the financial services provider’s stock valued at $14,970,000 after buying an additional 35,938 shares during the period. Institutional investors own 77.76% of the company’s stock.
About Hancock Holding Company
Hancock Holding Company is a financial services company that provides a network of service financial choices to the Gulf South region, through its bank subsidiary, Whitney Bank (the Bank), a Mississippi state bank. The Company operates through overall banking operations segment. The Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida, and Whitney Bank in Louisiana and Texas.
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