Bessemer Group Inc. Purchases New Position in Hancock Holding (HBHC)
Bessemer Group Inc. purchased a new stake in Hancock Holding (NASDAQ:HBHC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,200 shares of the financial services provider’s stock, valued at approximately $703,000.
Several other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC increased its stake in shares of Hancock by 32.0% in the fourth quarter. SG Americas Securities LLC now owns 13,795 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 3,342 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Hancock in the fourth quarter valued at approximately $125,000. Fox Run Management L.L.C. acquired a new stake in shares of Hancock in the fourth quarter valued at approximately $478,000. Schwab Charles Investment Management Inc. increased its stake in shares of Hancock by 3.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 585,662 shares of the financial services provider’s stock valued at $28,991,000 after purchasing an additional 17,870 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in shares of Hancock by 3.6% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 374,179 shares of the financial services provider’s stock valued at $18,522,000 after purchasing an additional 13,174 shares during the period. Institutional investors own 77.15% of the company’s stock.
Hancock Holding (HBHC) opened at $51.90 on Friday. Hancock Holding has a 12 month low of $41.05 and a 12 month high of $56.20. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.11. The company has a market cap of $4,490.00, a P/E ratio of 20.93, a P/E/G ratio of 1.67 and a beta of 1.02.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, March 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.85%. Hancock’s dividend payout ratio is presently 38.71%.
HBHC has been the topic of several analyst reports. Hovde Group upgraded shares of Hancock from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, December 27th. Zacks Investment Research upgraded shares of Hancock from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, December 19th. BidaskClub lowered shares of Hancock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Hancock in a research note on Friday, January 19th. Finally, SunTrust Banks reiterated a “hold” rating and set a $57.00 price objective on shares of Hancock in a research note on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $56.75.
In related news, insider Joseph S. Exnicios sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $53.40, for a total transaction of $53,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Samuel B. Kendricks sold 2,982 shares of Hancock stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $48.62, for a total transaction of $144,984.84. The disclosure for this sale can be found here. Insiders have sold 7,613 shares of company stock worth $398,000 in the last quarter. Company insiders own 1.15% of the company’s stock.
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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