California State Teachers Retirement System Has $7.32 Million Position in Hancock Holding Company (HBHC)
California State Teachers Retirement System trimmed its holdings in Hancock Holding Company (NASDAQ:HBHC) by 9.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 149,376 shares of the financial services provider’s stock after selling 16,305 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Hancock Holding worth $7,319,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in 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 worth $101,000 after acquiring an additional 939 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hancock Holding by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 404 shares during the period. Hayek Kallen Investment Management purchased a new position in Hancock Holding in the second quarter worth approximately $204,000. Canada Pension Plan Investment Board purchased a new position in Hancock Holding in the second quarter worth approximately $216,000. Finally, Quantbot Technologies LP grew its position in Hancock Holding by 82.0% in the second quarter. Quantbot Technologies LP now owns 4,745 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 2,138 shares during the period. Institutional investors own 76.85% of the company’s stock.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Hancock Holding from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Keefe, Bruyette & Woods upgraded Hancock Holding from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, August 21st. BidaskClub lowered Hancock Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of Hancock Holding in a research report on Friday, July 14th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $52.00 price objective on shares of Hancock Holding in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Hancock Holding has an average rating of “Hold” and a consensus price target of $51.92.
Hancock Holding Company (NASDAQ HBHC) opened at 50.20 on Friday. The firm’s 50-day moving average price is $47.03 and its 200-day moving average price is $46.84. The firm has a market capitalization of $4.35 billion, a PE ratio of 20.10 and a beta of 0.88. Hancock Holding Company has a 1-year low of $32.00 and a 1-year high of $52.94.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $269.97 million during the quarter, compared to analysts’ expectations of $279.80 million. During the same period in the previous year, the company earned $0.59 EPS. On average, equities research analysts predict that Hancock Holding Company will post $2.68 EPS for the current fiscal year.
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In other news, insider Joseph S. Exnicios sold 3,369 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $46.27, for a total transaction of $155,883.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cecil W. Knight, Jr. acquired 2,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were bought at an average cost of $41.40 per share, with a total value of $82,800.00. The disclosure for this purchase can be found here. 1.15% of the stock is owned by insiders.
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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