Hancock Holding Co. (HBHC) Given “Market Perform” Rating at Keefe, Bruyette & Woods
A number of other equities analysts have also recently weighed in on HBHC. Zacks Investment Research cut Hancock Holding from a hold rating to a sell rating in a research note on Monday, June 27th. Jefferies Group reaffirmed a hold rating and set a $28.00 target price on shares of Hancock Holding in a research note on Thursday, July 7th. TheStreet raised Hancock Holding from a hold rating to a buy rating in a research note on Thursday, July 14th. Bank of America Corp. raised Hancock Holding from an underperform rating to a neutral rating in a research note on Friday, July 22nd. Finally, Piper Jaffray Cos. reaffirmed a neutral rating and set a $29.00 target price (up previously from $27.50) on shares of Hancock Holding in a research note on Sunday, July 24th. 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 has an average rating of Hold and an average price target of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) traded down 3.668% during mid-day trading on Wednesday, reaching $31.905. 196,516 shares of the company’s stock traded hands. The company has a market capitalization of $2.47 billion, a P/E ratio of 23.668 and a beta of 0.87. Hancock Holding has a 1-year low of $20.01 and a 1-year high of $33.39. The firm has a 50-day moving average price of $32.20 and a 200-day moving average price of $27.98.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ 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 return on equity of 4.53% and a net margin of 11.20%. Hancock Holding’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. On average, equities research analysts forecast that Hancock Holding will post $1.81 earnings per share for the current fiscal year.
The company also recently disclosed 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Thursday, September 1st. Hancock Holding’s dividend payout ratio is presently 71.11%.
In other news, insider George A. Schloegel acquired 4,633 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the completion of the transaction, the insider now owns 257,351 shares in the company, valued at approximately $7,370,532.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen E. Barker sold 2,550 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were 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 disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its stake 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 worth $114,000 after buying an additional 340 shares in the last quarter. 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in Hancock Holding during the first quarter worth about $142,000. Bank of Montreal Can purchased a new stake in Hancock Holding during the second quarter worth about $142,000. Finally, Shelton Capital Management purchased a new stake in Hancock Holding during the second quarter worth about $220,000. Institutional investors and hedge funds own 81.16% 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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