Hancock Holding Rating Reiterated by Zacks (HBHC)
Hancock Holding (NASDAQ:HBHC)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Monday, AnalystRatingsNetwork reports. They currently have a $32.50 price target on the stock. Zacks‘ price objective would suggest a potential upside of 4.17% from the stock’s previous close.
Zacks‘ analyst wrote, “Hancock’s second-quarter 2013 earnings were in line with the Zacks Consensus Estimate. Results benefited from a marginal rise in fee income and a decline in operating expenses. However, lower net interest income and increased provision for loan losses were the headwinds. Further, credit quality and capital ratios were mixed, while profitability ratios deteriorated. Going forward, we expect Hancock to be successful with respect to its organic and inorganic growth strategies, backed by a stable liquidity position. Moreover enhanced capital deployment activities are anticipated to raise investors’ confidence in the stock. However, persistently rising operating expenses, a still low interest rate environment and increased regulations will likely marginally dent the company’s performance in the near term.”
Shares of Hancock Holding (NASDAQ:HBHC) traded up 0.51% during mid-day trading on Monday, hitting $31.36. 130,355 shares of the company’s stock traded hands. Hancock Holding has a 52-week low of $25.00 and a 52-week high of $33.85. The stock’s 50-day moving average is $32.28 and its 200-day moving average is $30.50. The company has a market cap of $2.574 billion and a P/E ratio of 14.25.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.55. On average, analysts predict that Hancock Holding will post $2.22 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital initiated coverage on shares of Hancock Holding (NASDAQ:HBHC) in a research note to investors on Friday, August 23rd. They set a “sector perform” rating and a $35.00 price target on the stock. Separately, analysts at SunTrust raised their price target on shares of Hancock Holding (NASDAQ:HBHC) from $29.00 to $34.00 in a research note to investors on Tuesday, July 30th. Finally, analysts at Wunderlich raised their price target on shares of Hancock Holding (NASDAQ:HBHC) from $30.00 to $33.00 in a research note to investors on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Hancock Holding currently has a consensus rating of “Hold” and an average price target of $31.48.
Hancock Holding Company (NASDAQ:HBHC) is a bank holding company.
To view Zacks’ full report, visit www.zacks.com
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