LSV Asset Management Has $19.70 Million Holdings in Hancock Holding Company (HBHC)
LSV Asset Management decreased its holdings in Hancock Holding Company (NASDAQ:HBHC) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 402,100 shares of the financial services provider’s stock after selling 15,700 shares during the quarter. LSV Asset Management owned 0.47% of Hancock Holding worth $19,702,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of HBHC. BlackRock Inc. raised its stake in Hancock Holding by 18,052.0% in the 1st quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock worth $413,132,000 after purchasing an additional 9,019,887 shares in the last quarter. State Street Corp raised its stake in Hancock Holding by 27.6% in the 1st quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock worth $232,799,000 after purchasing an additional 1,103,976 shares in the last quarter. Vanguard Group Inc. raised its stake in Hancock Holding by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 7,229,758 shares of the financial services provider’s stock worth $329,316,000 after purchasing an additional 544,041 shares in the last quarter. Teachers Advisors LLC raised its stake in Hancock Holding by 394.1% in the 1st quarter. Teachers Advisors LLC now owns 641,420 shares of the financial services provider’s stock worth $29,217,000 after purchasing an additional 511,593 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Hancock Holding by 41.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,532,140 shares of the financial services provider’s stock worth $69,789,000 after purchasing an additional 450,787 shares in the last quarter. Institutional investors and hedge funds own 77.00% of the company’s stock.
Several analysts have weighed in on the stock. Piper Jaffray Companies set a $52.00 price objective on shares of Hancock Holding and gave the stock a “buy” rating in a research note on Thursday, August 24th. Keefe, Bruyette & Woods upgraded shares of Hancock Holding from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, August 21st. BidaskClub cut shares of Hancock Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of Hancock Holding in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Hancock Holding presently has a consensus rating of “Buy” and a consensus target price of $50.03.
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In other news, insider Cecil W. Knight, Jr. purchased 2,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost of $41.40 per share, with a total value of $82,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Randall W. Hanna sold 2,300 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $43.93, for a total transaction of $101,039.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,909 shares of company stock worth $827,307. Insiders own 1.15% of the company’s stock.
Hancock Holding Company (NASDAQ HBHC) opened at 43.85 on Wednesday. Hancock Holding Company has a 12-month low of $31.12 and a 12-month high of $52.94. The firm has a 50-day moving average of $44.50 and a 200 day moving average of $46.44. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 18.30 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. The firm had revenue of $267.20 million for the quarter, compared to the consensus estimate of $265.03 million. During the same period in the prior year, the firm posted $0.59 earnings per share. Analysts expect that Hancock Holding Company will post $2.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, August 31st. Hancock Holding’s payout ratio is 40.00%.
Hancock Holding Profile
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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