Hancock Holding Co. (HBHC) Expected to Earn Q1 2017 Earnings of $0.55 Per Share
Hancock Holding Co. (NASDAQ:HBHC) – Jefferies Group issued their Q1 2017 earnings per share estimates for shares of Hancock Holding in a research note issued to investors on Tuesday. Jefferies Group analyst E. Harmon expects that the brokerage will earn $0.55 per share for the quarter. Jefferies Group has a “Hold” rating and a $28.00 price target on the stock. Jefferies Group also issued estimates for Hancock Holding’s Q2 2017 earnings at $0.62 EPS and Q3 2017 earnings at $0.65 EPS.
HBHC has been the subject of a number of other research reports. SunTrust Banks Inc. lowered shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Monday, September 19th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $29.00 price objective (up previously from $27.50) on shares of Hancock Holding in a 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. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Hancock Holding in a report on Wednesday. Finally, TheStreet upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Hancock Holding currently has an average rating of “Hold” and a consensus target price of $29.57.
Hancock Holding (NASDAQ:HBHC) opened at 32.46 on Thursday. The stock has a 50 day moving average of $32.24 and a 200 day moving average of $28.07. Hancock Holding has a 12-month low of $20.01 and a 12-month high of $33.39. The firm has a market cap of $2.52 billion, a PE ratio of 24.08 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. The company 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 business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share.
Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Hancock Holding by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,147,260 shares of the financial services provider’s stock valued at $134,392,000 after buying an additional 729,019 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Hancock Holding during the second quarter valued at approximately $18,529,000. Foundry Partners LLC bought a new stake in shares of Hancock Holding during the second quarter valued at approximately $10,758,000. Systematic Financial Management LP bought a new stake in shares of Hancock Holding during the second quarter valued at approximately $8,629,000. Finally, Prudential Financial Inc. increased its stake in shares of Hancock Holding by 177.2% in the first quarter. Prudential Financial Inc. now owns 500,110 shares of the financial services provider’s stock valued at $11,482,000 after buying an additional 319,708 shares during the period. 81.16% of the stock is owned by institutional investors.
In other news, EVP Stephen E. Barker sold 2,550 shares of the firm’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 transaction of $75,097.50. Following the completion of the sale, 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 SEC, which is accessible through this link. Also, insider George A. Schloegel acquired 4,633 shares of Hancock Holding stock in a transaction dated Thursday, August 4th. The shares were bought at an average cost of $28.64 per share, with a total value of $132,689.12. Following the transaction, the insider now owns 257,351 shares in the company, valued at $7,370,532.64. The disclosure for this purchase can be found here. Insiders own 1.45% of the company’s stock.
The business 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 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, September 1st. Hancock Holding’s dividend payout ratio (DPR) is 71.11%.
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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