Hancock Holding Co. to Post Q2 2017 Earnings of $0.58 Per Share, FIG Partners Forecasts (HBHC)
Hancock Holding Co. (NASDAQ:HBHC) – Analysts at FIG Partners increased their Q2 2017 earnings per share (EPS) estimates for Hancock Holding in a research note issued on Friday. FIG Partners analyst C. Marinac now forecasts that the firm will earn $0.58 per share for the quarter, up from their prior estimate of $0.57.
HBHC has been the subject of a number of other 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 report 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 downgraded 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. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.76 on Monday. The company has a market cap of $2.54 billion, a PE ratio of 24.30 and a beta of 0.87. Hancock Holding has a 52 week low of $20.01 and a 52 week high of $33.35. The stock’s 50 day moving average price is $32.05 and its 200-day moving average price is $27.79.
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Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $229 million for the quarter, compared to analysts’ expectations of $229.18 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue was up 7.7% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were issued 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 payout ratio is currently 71.11%.
In other news, insider George A. Schloegel acquired 4,633 shares of Hancock Holding stock in a transaction on Thursday, August 4th. The stock was purchased at an average price of $28.64 per share, with a total value of $132,689.12. Following the completion of the purchase, the insider now owns 257,351 shares of the company’s stock, valued at approximately $7,370,532.64. The purchase was disclosed in a document filed with the SEC, which is available through 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 sale, the executive vice president now directly owns 9,966 shares of the company’s stock, 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.
A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in shares of 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 period. LS Investment Advisors LLC boosted its stake 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 period. Meeder Asset Management Inc. purchased a new stake in shares of Hancock Holding during the first quarter worth approximately $142,000. Bank of Montreal Can purchased a new stake in shares of Hancock Holding during the second quarter worth approximately $142,000. Finally, Shelton Capital Management purchased a new stake in shares of Hancock Holding during the second quarter worth approximately $220,000. 81.16% of the stock is owned by hedge funds and other institutional investors.
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.
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