Analysts Offer Predictions for Hancock Holding Company’s FY2017 Earnings (HBHC)
Hancock Holding Company (NASDAQ:HBHC) – Investment analysts at FIG Partners decreased their FY2017 earnings per share (EPS) estimates for Hancock Holding in a research note issued to investors on Wednesday. FIG Partners analyst C. Marinac now forecasts that the financial services provider will post earnings of $2.64 per share for the year, down from their previous forecast of $2.65. FIG Partners also issued estimates for Hancock Holding’s Q4 2017 earnings at $0.80 EPS and Q3 2018 earnings at $0.85 EPS.
A number of other research firms also recently commented on HBHC. Jefferies Group LLC reissued a “hold” rating and set a $51.00 price objective on shares of Hancock Holding in a report on Friday, July 14th. Zacks Investment Research raised shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, July 18th. Piper Jaffray Companies reissued an “overweight” rating and set a $52.00 price objective on shares of Hancock Holding in a report on Thursday, October 5th. Finally, BidaskClub downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.92.
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Hancock Holding (HBHC) traded up 1.38% during midday trading on Friday, hitting $51.30. 76,430 shares of the stock traded hands. Hancock Holding has a one year low of $31.94 and a one year high of $52.94. The company’s 50 day moving average is $46.41 and its 200-day moving average is $46.69. The company has a market cap of $4.35 billion, a P/E ratio of 21.41 and a beta of 0.88.
Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. Hancock Holding had a net margin of 19.08% and a return on equity of 8.27%. The business had revenue of $269.97 million for the quarter, compared to analyst estimates of $279.80 million. During the same period in the prior year, the company posted $0.59 EPS.
In other Hancock Holding news, insider Cecil W. Knight, Jr. acquired 2,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average price 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 can be accessed through this link. Also, CEO John M. Hairston sold 12,240 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $46.60, for a total transaction of $570,384.00. The disclosure for this sale can be found here. Insiders have sold 17,909 shares of company stock valued at $827,307 in the last ninety days. 1.15% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of Hancock Holding by 72.2% in 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 purchasing an additional 939 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 valued at $159,000 after acquiring an additional 404 shares during the last quarter. Hayek Kallen Investment Management bought a new position in Hancock Holding during the 2nd quarter valued at $204,000. Canada Pension Plan Investment Board bought a new position in Hancock Holding during the 2nd quarter valued at $216,000. Finally, Quantbot Technologies LP boosted its stake in Hancock Holding by 82.0% during the 2nd quarter. Quantbot Technologies LP now owns 4,745 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 2,138 shares during the last quarter. 76.98% of the stock is 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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