ValuEngine Lowers Hancock Holding Company (HBHC) to Hold
ValuEngine cut shares of Hancock Holding Company (NASDAQ:HBHC) from a buy rating to a hold rating in a report issued on Friday.
Several other equities analysts also recently issued reports on HBHC. BidaskClub downgraded shares of Hancock Holding from a buy rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of Hancock Holding from a buy rating to a hold rating in a report on Monday, July 24th. Keefe, Bruyette & Woods set a $50.00 price objective on shares of Hancock Holding and gave the company a hold rating in a report on Friday, August 11th. Piper Jaffray Companies set a $52.00 price objective on shares of Hancock Holding and gave the company a buy rating in a report on Thursday, August 24th. Finally, SunTrust Banks, Inc. reaffirmed a hold rating and set a $50.00 price objective on shares of Hancock Holding in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $51.92.
Shares of Hancock Holding (HBHC) opened at $48.55 on Friday. Hancock Holding has a twelve month low of $39.75 and a twelve month high of $52.94. The stock has a market cap of $4,135.53, a price-to-earnings ratio of 17.92, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12.
Hancock Holding (NASDAQ:HBHC) last posted 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. The business had revenue of $269.97 million for the quarter, compared to the consensus estimate of $279.80 million. Hancock Holding had a net margin of 19.08% and a return on equity of 8.27%. During the same period last year, the firm posted $0.59 earnings per share. analysts anticipate that Hancock Holding will post 2.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 4th. Hancock Holding’s dividend payout ratio (DPR) is 38.55%.
In other Hancock Holding news, insider Cecil W. Knight, Jr. bought 2,000 shares of Hancock Holding stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $41.40 per share, for a total transaction of $82,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.15% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Hancock Holding by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 1,606,146 shares of the financial services provider’s stock valued at $78,702,000 after buying an additional 74,006 shares during the last quarter. Sei Investments Co. raised its position in shares of Hancock Holding by 21.8% in the second quarter. Sei Investments Co. now owns 20,948 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 3,747 shares during the last quarter. Federated Investors Inc. PA increased its position in Hancock Holding by 6.2% during the second quarter. Federated Investors Inc. PA now owns 126,899 shares of the financial services provider’s stock worth $6,218,000 after purchasing an additional 7,370 shares during the last quarter. Legal & General Group Plc increased its position in Hancock Holding by 11.8% during the second quarter. Legal & General Group Plc now owns 100,332 shares of the financial services provider’s stock worth $4,914,000 after purchasing an additional 10,621 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Hancock Holding by 4.6% during the second quarter. Principal Financial Group Inc. now owns 361,366 shares of the financial services provider’s stock worth $17,706,000 after purchasing an additional 15,886 shares during the last quarter. Institutional investors and hedge funds own 75.35% of the company’s stock.
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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