Hancock Holding Co. (NASDAQ:HBHC) Given Average Rating of “Hold” by Brokerages
Hancock Holding Co. (NASDAQ:HBHC) has been assigned an average recommendation of “Hold” from the twelve analysts that are covering the stock. Nine equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $29.60.
HBHC has been the subject of several recent research reports. SunTrust Banks Inc. downgraded Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Monday, September 19th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $29.00 target price (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th. Zacks Investment Research cut Hancock Holding from a “buy” rating to a “hold” rating in a report on Monday, September 26th. TheStreet upgraded Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Finally, Jefferies Group reiterated a “hold” rating and issued a $28.00 target price on shares of Hancock Holding in a report on Thursday, July 7th.
In other Hancock Holding news, insider George A. Schloegel purchased 4,633 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were purchased at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the acquisition, the insider now owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $29.45, for a total value of $75,097.50. Following the transaction, the executive vice president now owns 9,966 shares in the company, valued at $293,498.70. The disclosure for this sale can be found here. Company insiders own 1.45% of the company’s stock.
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Several institutional investors have recently bought and sold shares of HBHC. Public Employees Retirement System of Ohio boosted its position in Hancock Holding by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 4,360 shares of the financial services provider’s stock worth $114,000 after buying an additional 340 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Hancock Holding by 77.0% in the second quarter. LS Investment Advisors LLC now owns 4,690 shares of the financial services provider’s stock worth $122,000 after buying an additional 2,041 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Hancock Holding during the first quarter worth $142,000. Bank of Montreal Can purchased a new position in shares of Hancock Holding during the second quarter worth $142,000. Finally, Shelton Capital Management purchased a new position in shares of Hancock Holding during the second quarter worth $220,000. Hedge funds and other institutional investors own 81.16% of the company’s stock.
Hancock Holding (NASDAQ:HBHC) traded down 0.55% during mid-day trading on Friday, hitting $32.70. 259,302 shares of the stock were exchanged. Hancock Holding has a 1-year low of $20.01 and a 1-year high of $33.35. The stock has a 50 day moving average price of $32.02 and a 200 day moving average price of $27.73. The company has a market capitalization of $2.54 billion, a PE ratio of 24.26 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. The company earned $229 million during the quarter, compared to the consensus estimate of $229.18 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Hancock Holding will post $1.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Thursday, September 1st. Hancock Holding’s payout ratio is 71.11%.
About Hancock Holding
Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The Company operates through overall banking operations segment. Whitney Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas.
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