Mutual of America Capital Management LLC Buys 1,879 Shares of Hancock Holding Company (HBHC)
Mutual of America Capital Management LLC increased its stake in Hancock Holding Company (NASDAQ:HBHC) by 2.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,249 shares of the financial services provider’s stock after acquiring an additional 1,879 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of Hancock Holding worth $3,393,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of Hancock Holding by 72.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the financial services provider’s stock valued at $101,000 after buying an additional 939 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Hancock Holding during the first quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hancock Holding by 14.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock valued at $159,000 after buying an additional 404 shares in the last quarter. Hayek Kallen Investment Management purchased a new position in shares of Hancock Holding during the second quarter valued at $204,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Hancock Holding during the second quarter valued at $216,000. Institutional investors and hedge funds own 76.98% of the company’s stock.
Hancock Holding Company (NASDAQ HBHC) opened at 48.15 on Thursday. Hancock Holding Company has a 52 week low of $31.16 and a 52 week high of $52.94. The firm has a 50-day moving average price of $44.08 and a 200-day moving average price of $46.28. The stock has a market cap of $4.08 billion, a P/E ratio of 20.10 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $267.20 million for the quarter, compared to the consensus estimate of $265.03 million. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. During the same quarter last year, the business posted $0.59 EPS. On average, equities research analysts predict that Hancock Holding Company will post $2.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, August 31st. Hancock Holding’s payout ratio is presently 40.00%.
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In other Hancock Holding news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cecil W. Knight, Jr. bought 2,000 shares of the stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $41.40 per share, with a total value of $82,800.00. The disclosure for this purchase can be found here. Insiders have sold a total of 17,909 shares of company stock worth $827,307 in the last ninety days. 1.15% of the stock is currently owned by company insiders.
HBHC has been the topic of a number of research analyst reports. ValuEngine upgraded Hancock Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Piper Jaffray Companies set a $52.00 price target on Hancock Holding and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded Hancock Holding from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, July 7th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price target on shares of Hancock Holding in a report on Friday, July 14th. Finally, BidaskClub downgraded Hancock Holding from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $52.03.
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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