Hancock Holding Co. (NASDAQ:HBHC) Given Average Rating of “Hold” by Brokerages
Shares of Hancock Holding Co. (NASDAQ:HBHC) have received an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock. Nine equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.60.
A number of equities research analysts recently issued reports on HBHC shares. SunTrust Banks Inc. cut shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Monday, September 19th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $29.00 target price (up previously from $27.50) on shares of Hancock Holding in a research report on Sunday, July 24th. Zacks Investment Research lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Monday, September 26th. TheStreet raised shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Finally, Jefferies Group reissued a “hold” rating and set a $28.00 price objective on shares of Hancock Holding in a report on Thursday, July 7th.
Hancock Holding (NASDAQ:HBHC) traded down 0.55% during mid-day trading on Friday, hitting $32.70. 259,302 shares of the company were exchanged. The stock has a market cap of $2.54 billion, a P/E ratio of 24.26 and a beta of 0.87. Hancock Holding has a 12-month low of $20.01 and a 12-month high of $33.35. The company has a 50 day moving average of $32.02 and a 200 day moving average of $27.73.
Hancock Holding (NASDAQ:HBHC) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 11.20% and a return on equity of 4.53%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. On average, equities research analysts expect that Hancock Holding will post $1.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, September 1st. Hancock Holding’s dividend payout ratio (DPR) is presently 71.11%.
In other news, EVP Stephen E. Barker sold 2,550 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider George A. Schloegel bought 4,633 shares of Hancock Holding stock in a transaction dated Thursday, August 4th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the purchase, the insider now directly owns 257,351 shares in the company, valued at approximately $7,370,532.64. The disclosure for this purchase can be found here. 1.45% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC raised its position in shares of Hancock Holding by 3.1% in the third quarter. Foundry Partners LLC now owns 424,852 shares of the financial services provider’s stock valued at $13,778,000 after buying an additional 12,813 shares during the period. Macquarie Group Ltd. raised its position in shares of Hancock Holding by 2.0% in the second quarter. Macquarie Group Ltd. now owns 2,513,013 shares of the financial services provider’s stock valued at $65,615,000 after buying an additional 48,707 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Hancock Holding during the second quarter valued at about $923,000. Public Employees Retirement System of Ohio raised its position in shares of Hancock Holding by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 4,360 shares of the financial services provider’s stock valued at $114,000 after buying an additional 340 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Hancock Holding by 4.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 352,662 shares of the financial services provider’s stock worth $9,209,000 after buying an additional 15,684 shares in the last quarter. 81.16% of the stock is currently owned by 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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