Hancock Holding to Post FY2017 Earnings of $2.78 Per Share, Jefferies Group Forecasts (HBHC)
Hancock Holding (NASDAQ:HBHC) – Investment analysts at Jefferies Group lifted their FY2017 earnings estimates for shares of Hancock in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire now forecasts that the financial services provider will earn $2.78 per share for the year, up from their prior forecast of $2.77. Jefferies Group currently has a “Hold” rating and a $52.00 price target on the stock. Jefferies Group also issued estimates for Hancock’s Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.98 EPS and Q4 2018 earnings at $0.99 EPS.
Several other equities analysts have also commented on HBHC. Zacks Investment Research lowered shares of Hancock from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. SunTrust Banks reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Hancock in a research report on Wednesday, October 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $52.00 price objective on shares of Hancock in a research report on Thursday, October 5th. ValuEngine lowered shares of Hancock from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Finally, BidaskClub lowered shares of Hancock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Hancock presently has a consensus rating of “Buy” and a consensus price target of $53.23.
Hancock (NASDAQ:HBHC) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The firm had revenue of $269.97 million during the quarter, compared to analyst estimates of $279.80 million. Hancock 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 EPS.
Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Hancock by 25.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the financial services provider’s stock worth $137,000 after buying an additional 581 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Hancock 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 buying an additional 404 shares during the last quarter. Sabal Trust CO purchased a new position in Hancock during the 3rd quarter worth approximately $216,000. Adviser Investments LLC purchased a new position in Hancock during the 3rd quarter worth approximately $224,000. Finally, Quantbot Technologies LP grew its stake in shares of Hancock by 82.0% during the 2nd quarter. Quantbot Technologies LP now owns 4,745 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 2,138 shares during the period. 77.21% of the stock is owned by institutional investors.
In other Hancock news, insider Samuel B. Kendricks sold 2,982 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.62, for a total transaction of $144,984.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.15% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, December 4th. Hancock’s dividend payout ratio is presently 38.55%.
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Hancock 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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