Hancock Holding Company (HBHC) Rating Reiterated by Piper Jaffray Companies
Hancock Holding Company (NASDAQ:HBHC)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Jaffray Companies in a report issued on Thursday. They presently have a $52.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 6.89% from the stock’s previous close.
A number of other equities analysts also recently issued reports on HBHC. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $50.00 price target on shares of Hancock Holding in a report on Wednesday. BidaskClub downgraded shares of Hancock Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods set a $50.00 price target on shares of Hancock Holding and gave the company a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price target on shares of Hancock Holding in a report on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Hancock Holding presently has an average rating of “Hold” and a consensus price target of $51.81.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 48.65 on Thursday. Hancock Holding has a 12 month low of $31.73 and a 12 month high of $52.94. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 20.30 and a beta of 0.88. The stock has a 50 day moving average of $45.11 and a 200 day moving average of $46.38.
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, meeting the Zacks’ consensus estimate of $0.68. The business had revenue of $267.20 million during the quarter, compared to the consensus estimate of $265.03 million. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. During the same quarter last year, the firm posted $0.59 EPS. On average, equities research analysts expect that Hancock Holding will post $2.71 EPS for the current fiscal year.
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In other Hancock Holding news, CEO John M. Hairston sold 12,240 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $46.60, for a total transaction of $570,384.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cecil W. Knight, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $41.40 per share, for a total transaction of $82,800.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 17,909 shares of company stock worth $827,307. 1.15% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of Hancock Holding by 72.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 939 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Hancock Holding during the 1st quarter worth about $118,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hancock Holding by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 404 shares during the last quarter. Hayek Kallen Investment Management acquired a new stake in shares of Hancock Holding during the 2nd quarter worth about $204,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Hancock Holding during the 2nd quarter worth about $216,000. 76.98% of the stock is currently owned by institutional investors.
Hancock Holding Company 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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