Rhumbline Advisers Increases Stake in Hancock Holding Company (HBHC)
Rhumbline Advisers raised its position in Hancock Holding Company (NASDAQ:HBHC) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,899 shares of the financial services provider’s stock after buying an additional 2,461 shares during the period. Rhumbline Advisers owned 0.22% of Hancock Holding worth $9,109,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HBHC. Teacher Retirement System of Texas raised its position in Hancock Holding by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 6,774 shares of the financial services provider’s stock worth $332,000 after buying an additional 147 shares during the period. Monarch Partners Asset Management LLC acquired a new position in Hancock Holding during the second quarter worth $14,497,000. Arizona State Retirement System raised its position in Hancock Holding by 1.7% in the second quarter. Arizona State Retirement System now owns 35,600 shares of the financial services provider’s stock worth $1,744,000 after buying an additional 600 shares during the period. Foundry Partners LLC raised its position in Hancock Holding by 2.1% in the second quarter. Foundry Partners LLC now owns 439,795 shares of the financial services provider’s stock worth $21,550,000 after buying an additional 8,924 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Hancock Holding by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 524,821 shares of the financial services provider’s stock worth $25,717,000 after buying an additional 32,365 shares during the period. 77.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hancock Holding Company (NASDAQ:HBHC) opened at 43.80 on Thursday. The firm has a market cap of $3.71 billion, a P/E ratio of 18.28 and a beta of 0.85. Hancock Holding Company has a one year low of $31.12 and a one year high of $52.94. The stock’s 50 day moving average is $46.55 and its 200-day moving average is $46.71.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The business had revenue of $267.20 million during the quarter, compared to analysts’ expectations of $265.03 million. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. During the same period last year, the company posted $0.59 earnings per share. Analysts anticipate that Hancock Holding Company will post $2.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, August 31st. Hancock Holding’s dividend payout ratio is currently 40.00%.
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A number of research firms have weighed in on HBHC. Keefe, Bruyette & Woods raised shares of Hancock Holding from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday. BidaskClub lowered shares of Hancock Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 target price on shares of Hancock Holding in a research note on Friday, July 14th. Finally, ValuEngine upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Hancock Holding presently has a consensus rating of “Buy” and an average target price of $49.78.
In related news, EVP Stephen E. Barker sold 9,966 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $50.28, for a total transaction of $501,090.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider George A. Schloegel sold 4,953 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $50.78, for a total transaction of $251,513.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,855 shares of company stock valued at $1,776,738. 1.15% of the stock is currently owned by corporate insiders.
About Hancock Holding
Hancock Holding Company is a financial services company that provides a network of service financial choices to the Gulf South region, through its bank subsidiary, Whitney Bank (the Bank), a Mississippi state bank. The Company operates through overall banking operations segment. The Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida, and Whitney Bank in Louisiana and Texas.
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