Hancock Holding Co. (HBHC) Announces Quarterly Earnings Results
Hancock Holding Co. (NASDAQ:HBHC) released its quarterly earnings data on Tuesday. The financial services provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%.
Shares of Hancock Holding (NASDAQ:HBHC) traded up 0.62% during midday trading on Tuesday, hitting $32.28. 672,741 shares of the stock traded hands. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 23.95 and a beta of 0.87. The company’s 50 day moving average price is $32.24 and its 200-day moving average price is $28.21. Hancock Holding has a 12-month low of $20.01 and a 12-month high of $33.39.
HBHC has been the subject of several 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 research report on Monday, September 19th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $29.00 price objective (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 research report on Monday, September 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Hancock Holding in a research report on Wednesday, October 12th. Finally, TheStreet upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.57.
In related news, EVP Stephen E. Barker sold 2,550 shares of the business’s stock in a transaction 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 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 available through this hyperlink. Also, insider George A. Schloegel purchased 4,633 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average cost of $28.64 per share, with a total value of $132,689.12. Following the acquisition, the insider now 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 corporate insiders.
A number of large investors have recently modified their holdings of the company. Raymond James & Associates bought a new stake in shares of Hancock Holding during the second quarter valued at approximately $269,000. Sei Investments Co. raised its stake in shares of Hancock Holding by 18.1% in the second quarter. Sei Investments Co. now owns 10,360 shares of the financial services provider’s stock valued at $271,000 after buying an additional 1,586 shares during the last quarter. Barclays PLC raised its stake in shares of Hancock Holding by 1,490.5% in the second quarter. Barclays PLC now owns 13,726 shares of the financial services provider’s stock valued at $358,000 after buying an additional 12,863 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Hancock Holding during the second quarter valued at approximately $453,000. Finally, Profund Advisors LLC raised its stake in shares of Hancock Holding by 16.0% in the second quarter. Profund Advisors LLC now owns 17,732 shares of the financial services provider’s stock valued at $463,000 after buying an additional 2,447 shares during the last quarter. 81.13% of the stock is 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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