Hovde Group Increases Hancock Holding Co. (HBHC) Price Target to $32.00
Hancock Holding Co. (NASDAQ:HBHC) had its price target upped by investment analysts at Hovde Group from $27.00 to $32.00 in a note issued to investors on Tuesday. The firm currently has a “market perform” rating on the financial services provider’s stock. Hovde Group’s price target suggests a potential downside of 2.32% from the stock’s current price.
HBHC has been the subject of a number of other reports. Zacks Investment Research downgraded Hancock Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. TheStreet raised Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Jefferies Group reaffirmed a “hold” rating and set a $28.00 target price on shares of Hancock Holding in a research note on Thursday, July 7th. Raymond James Financial Inc. raised Hancock Holding from a “market perform” rating to an “outperform” rating in a research note on Monday, May 9th. Finally, Bank of America Corp. raised Hancock Holding from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Hancock Holding has a consensus rating of “Hold” and an average price target of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) traded down 0.36% during midday trading on Tuesday, hitting $32.76. The stock had a trading volume of 735,617 shares. Hancock Holding has a 52 week low of $20.01 and a 52 week high of $33.35. The firm has a market cap of $2.54 billion, a P/E ratio of 24.30 and a beta of 0.87. The company’s 50 day moving average is $32.05 and its 200 day moving average is $27.79.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/09/hovde-group-increases-hancock-holding-co-hbhc-price-target-to-32-00.html
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ 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 period last year, the company earned $0.51 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts predict that Hancock Holding will post $1.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.93%. Hancock Holding’s dividend payout ratio (DPR) is presently 71.11%.
In related news, insider George A. Schloegel bought 4,633 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were bought at an average price of $28.64 per share, for a total transaction of $132,689.12. Following the completion of the acquisition, the insider now directly owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen E. Barker sold 2,550 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value of $75,097.50. Following the completion of the transaction, the executive vice president now owns 9,966 shares in the company, valued at approximately $293,498.70. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC raised its position in Hancock Holding by 0.3% in the first quarter. LPL Financial LLC now owns 14,408 shares of the financial services provider’s stock worth $325,000 after buying an additional 40 shares in the last quarter. Arizona State Retirement System raised its position in Hancock Holding by 0.5% in the first quarter. Arizona State Retirement System now owns 36,900 shares of the financial services provider’s stock worth $847,000 after buying an additional 200 shares in the last quarter. State Treasurer State of Michigan raised its position in Hancock Holding by 0.6% in the second quarter. State Treasurer State of Michigan now owns 31,100 shares of the financial services provider’s stock worth $812,000 after buying an additional 200 shares in the last quarter. Commonwealth Equity Services Inc raised its position in Hancock Holding by 0.4% in the first quarter. Commonwealth Equity Services Inc now owns 53,949 shares of the financial services provider’s stock worth $1,239,000 after buying an additional 235 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised 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 in the last quarter. Institutional investors own 81.16% of the company’s stock.
Hancock Holding Company Profile
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.
Receive News & Ratings for Hancock Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hancock Holding Co. and related companies with MarketBeat.com's FREE daily email newsletter.