Prudential Financial Inc. Has $34.05 Million Stake in Hancock Holding Company (HBHC)
Prudential Financial Inc. boosted its position in Hancock Holding Company (NASDAQ:HBHC) by 22.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 694,894 shares of the financial services provider’s stock after buying an additional 125,860 shares during the period. Prudential Financial Inc. owned approximately 0.82% of Hancock Holding worth $34,050,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of HBHC. BlackRock Inc. raised its stake in Hancock Holding by 18,052.0% in the first quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock worth $413,132,000 after buying an additional 9,019,887 shares in the last quarter. Vanguard Group Inc. raised its stake in Hancock Holding by 8.1% in the first quarter. Vanguard Group Inc. now owns 7,229,758 shares of the financial services provider’s stock worth $329,316,000 after buying an additional 544,041 shares in the last quarter. State Street Corp raised its stake in Hancock Holding by 27.6% in the first quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock worth $232,799,000 after buying an additional 1,103,976 shares in the last quarter. Macquarie Group Ltd. raised its stake in Hancock Holding by 2.2% in the first quarter. Macquarie Group Ltd. now owns 2,483,043 shares of the financial services provider’s stock worth $113,103,000 after buying an additional 53,383 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Hancock Holding by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 1,532,140 shares of the financial services provider’s stock worth $69,789,000 after buying an additional 450,787 shares in the last quarter. Institutional investors own 77.00% of the company’s stock.
Hancock Holding Company (NASDAQ:HBHC) opened at 44.35 on Friday. Hancock Holding Company has a 1-year low of $31.12 and a 1-year high of $52.94. The company has a 50-day moving average of $45.43 and a 200-day moving average of $46.62. The company has a market capitalization of $3.76 billion, a P/E ratio of 18.51 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. The company 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 in the previous year, the company earned $0.59 EPS. Equities analysts expect that Hancock Holding Company will post $2.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be given a $0.24 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.96 annualized dividend and a yield of 2.16%. Hancock Holding’s dividend payout ratio (DPR) is 40.00%.
A number of analysts have recently weighed in on HBHC shares. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 target price on shares of Hancock Holding in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Tuesday, July 18th. BidaskClub lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Piper Jaffray Companies set a $52.00 target price on shares of Hancock Holding and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Keefe, Bruyette & Woods set a $50.00 target price on shares of Hancock Holding and gave the stock a “hold” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $50.03.
In other Hancock Holding news, CEO John M. Hairston sold 12,240 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $46.60, for a total value of $570,384.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph S. Exnicios sold 3,762 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $48.80, for a total transaction of $183,585.60. Following the completion of the sale, the insider now directly owns 6,477 shares of the company’s stock, valued at $316,077.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,855 shares of company stock valued at $1,776,738. 1.15% of the stock is 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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