Q2 2017 Earnings Forecast for Hancock Holding Co. (HBHC) Issued By FIG Partners
Hancock Holding Co. (NASDAQ:HBHC) – Equities research analysts at FIG Partners increased their Q2 2017 EPS estimates for Hancock Holding in a research note issued to investors on Friday. FIG Partners analyst C. Marinac now forecasts that the firm will post earnings per share of $0.58 for the quarter, up from their previous forecast of $0.57.
HBHC has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 price target for the company 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 lifted their price target 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 reiterated a “hold” rating and issued a $28.00 price target on shares of Hancock Holding in a research note on Thursday, July 7th. Finally, SunTrust Banks Inc. lowered shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Monday, September 19th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.57.
Hancock Holding (NASDAQ:HBHC) traded up 0.03% during midday trading on Monday, hitting $33.04. 28,316 shares of the stock traded hands. Hancock Holding has a 52 week low of $20.01 and a 52 week high of $33.39. The stock has a market capitalization of $2.56 billion, a P/E ratio of 24.51 and a beta of 0.87. The stock’s 50-day moving average price is $32.15 and its 200-day moving average price is $27.94.
Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.45 by $0.14. The company earned $229 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.51 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, September 1st. Hancock Holding’s dividend payout ratio is currently 71.11%.
In other news, insider George A. Schloegel purchased 4,633 shares of the stock in a transaction on Thursday, August 4th. The shares were acquired at an average price of $28.64 per share, with a total value of $132,689.12. Following the completion of the acquisition, the insider now directly owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen E. Barker sold 2,550 shares of Hancock Holding stock in a transaction that occurred on 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 directly owns 9,966 shares in the company, valued at approximately $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 institutional investors have recently modified their holdings of HBHC. Public Employees Retirement System of Ohio increased its position in 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. LS Investment Advisors LLC increased its position 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 valued at $122,000 after buying an additional 2,041 shares during the period. Meeder Asset Management Inc. bought a new position in Hancock Holding during the first quarter valued at approximately $142,000. Bank of Montreal Can bought a new position in Hancock Holding during the second quarter valued at approximately $142,000. Finally, Shelton Capital Management bought a new position in Hancock Holding during the second quarter valued at approximately $220,000. 81.16% of the stock is currently owned by institutional investors and hedge funds.
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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