Brokerages Set Hancock Holding Co. (HBHC) Target Price at $29.60
Hancock Holding Co. (NASDAQ:HBHC) has received an average recommendation of “Hold” from the twelve research firms that are currently covering the company. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $29.60.
Several research firms have recently issued reports on HBHC. Zacks Investment Research downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Friday. Hovde Group raised their price target on shares of Hancock Holding from $27.00 to $32.00 and gave the company a “market perform” rating in a research note on Tuesday, July 26th. SunTrust Banks Inc. downgraded 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. Bank of America Corp. raised shares of Hancock Holding from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Hancock Holding in a research note on Wednesday, October 12th.
Hancock Holding (NASDAQ:HBHC) opened at 38.05 on Friday. The stock has a 50 day moving average of $33.17 and a 200 day moving average of $29.48. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 26.87 and a beta of 0.77. Hancock Holding has a one year low of $20.01 and a one year high of $38.65.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Hancock Holding had a net margin of 11.62% and a return on equity of 4.74%. During the same quarter in the prior year, the company earned $0.52 earnings per share. Equities research analysts predict that Hancock Holding will post $1.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, December 5th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, December 1st. Hancock Holding’s dividend payout ratio (DPR) is currently 67.61%.
A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Hancock Holding by 65.3% in the third quarter. Bank of New York Mellon Corp now owns 2,225,047 shares of the financial services provider’s stock valued at $72,159,000 after buying an additional 879,369 shares during the period. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Hancock Holding by 180.4% in the third quarter. Ameriprise Financial Inc. now owns 1,126,858 shares of the financial services provider’s stock worth $36,543,000 after buying an additional 724,944 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Hancock Holding during the second quarter worth about $18,529,000. Finally, Victory Capital Management Inc. boosted its position in shares of Hancock Holding by 94.1% in the third quarter. Victory Capital Management Inc. now owns 1,318,443 shares of the financial services provider’s stock worth $42,757,000 after buying an additional 639,182 shares in the last quarter. 81.15% of the stock is owned by hedge funds and other 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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