Brokers Set Expectations for Hancock Holding Co.’s Q3 2016 Earnings (HBHC)
Hancock Holding Co. (NASDAQ:HBHC) – Equities researchers at Jefferies Group dropped their Q3 2016 earnings estimates for shares of Hancock Holding in a note issued to investors on Tuesday. Jefferies Group analyst E. Harmon now expects that the firm will post earnings per share of $0.56 for the quarter, down from their previous forecast of $0.59. Jefferies Group has a “Hold” rating and a $28.00 price target on the stock. Jefferies Group also issued estimates for Hancock Holding’s Q4 2016 earnings at $0.60 EPS, FY2016 earnings at $1.87 EPS, Q4 2017 earnings at $0.68 EPS and FY2018 earnings at $3.00 EPS.
Hancock Holding (NASDAQ:HBHC) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ 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 company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS.
Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods restated a “market perform” rating on shares of Hancock Holding in a research note on Wednesday. Zacks Investment Research lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. SunTrust Banks Inc. lowered shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Monday, September 19th. Hovde Group increased 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. Finally, Piper Jaffray Cos. restated a “neutral” rating and set a $29.00 price target (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 issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.46 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 24.08 and a beta of 0.87. The stock has a 50 day moving average of $32.24 and a 200 day moving average of $28.07. Hancock Holding has a 52-week low of $20.01 and a 52-week high of $33.39.
A number of hedge funds have recently modified their holdings of the stock. 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 worth $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 worth $18,529,000. Foundry Partners LLC bought a new stake in shares of Hancock Holding during the second quarter worth $10,758,000. Systematic Financial Management LP bought a new stake in shares of Hancock Holding during the second quarter worth $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 worth $11,482,000 after buying an additional 319,708 shares during the period. 81.16% of the stock is owned by hedge funds and other institutional investors.
In related news, insider George A. Schloegel purchased 4,633 shares of Hancock Holding stock in a transaction on Thursday, August 4th. The stock was purchased at an average cost of $28.64 per share, with a total value of $132,689.12. Following the acquisition, the insider now directly owns 257,351 shares in the company, valued at $7,370,532.64. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen E. Barker sold 2,550 shares of the stock in a transaction 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 directly owns 9,966 shares of the company’s stock, valued at $293,498.70. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.
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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