Hancock (HBHC) PT Lowered to $54.00 at SunTrust Banks
Hancock (NASDAQ:HBHC) had its price target trimmed by SunTrust Banks to $54.00 in a research note issued to investors on Thursday. The firm currently has a hold rating on the financial services provider’s stock. SunTrust Banks also issued estimates for Hancock’s Q2 2018 earnings at $0.96 EPS, Q4 2018 earnings at $1.02 EPS, FY2018 earnings at $3.84 EPS, Q1 2019 earnings at $0.96 EPS, Q2 2019 earnings at $1.02 EPS, Q3 2019 earnings at $1.07 EPS, Q4 2019 earnings at $1.16 EPS and FY2019 earnings at $4.20 EPS.
Several other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods reissued a buy rating and issued a $60.00 price target on shares of Hancock in a research note on Thursday. Zacks Investment Research cut Hancock from a buy rating to a hold rating in a research note on Wednesday, April 11th. ValuEngine cut Hancock from a buy rating to a hold rating in a research note on Monday, April 2nd. BidaskClub cut Hancock from a buy rating to a hold rating in a research note on Tuesday, March 27th. Finally, Sandler O’Neill reissued a buy rating and issued a $61.00 price target on shares of Hancock in a research note on Friday, January 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Hancock currently has an average rating of Hold and a consensus price target of $56.86.
Shares of HBHC opened at $48.35 on Thursday. The stock has a market capitalization of $4,196.49, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Hancock has a fifty-two week low of $41.05 and a fifty-two week high of $56.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.79.
In other Hancock news, Director Frank E. Bertucci sold 3,031 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $55.00, for a total transaction of $166,705.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen E. Barker sold 3,572 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $55.70, for a total value of $198,960.40. The disclosure for this sale can be found here. Insiders have sold 47,833 shares of company stock valued at $2,613,063 in the last ninety days. Company insiders own 1.15% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HBHC. Cubist Systematic Strategies LLC bought a new stake in Hancock during the third quarter worth approximately $304,000. Public Employees Retirement System of Ohio boosted its position in Hancock by 1,071.2% during the third quarter. Public Employees Retirement System of Ohio now owns 41,085 shares of the financial services provider’s stock worth $1,991,000 after purchasing an additional 37,577 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its position in Hancock by 3.6% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 374,179 shares of the financial services provider’s stock worth $18,522,000 after purchasing an additional 13,174 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Hancock by 3.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 585,662 shares of the financial services provider’s stock worth $28,991,000 after purchasing an additional 17,870 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Hancock during the fourth quarter worth approximately $478,000. 76.64% of the stock is owned by hedge funds and other institutional investors.
Hancock Holding Company operates as the bank holding company for Whitney Bank that provides a range of community banking services to commercial, small business, and retail customers. The company offers various deposit products, including noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.
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