Hancock Holding Co. (HBHC) Given Market Perform Rating at Keefe, Bruyette & Woods
Hancock Holding Co. (NASDAQ:HBHC)‘s stock had its “market perform” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a report issued on Wednesday.
Several other equities analysts have also recently issued reports on the company. Bank of America Corp. upgraded Hancock Holding from an “underperform” rating to a “neutral” rating in a research note on Friday, July 22nd. SunTrust Banks Inc. cut 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. Hovde Group boosted their target price on Hancock Holding from $27.00 to $32.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 26th. TheStreet upgraded Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Finally, Zacks Investment Research cut Hancock Holding from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Hancock Holding currently has a consensus rating of “Hold” and a consensus price target of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) traded up 0.54% during trading on Wednesday, reaching $33.21. 107,664 shares of the company traded hands. The stock’s 50 day moving average is $32.15 and its 200 day moving average is $27.94. Hancock Holding has a 1-year low of $20.01 and a 1-year high of $33.39. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 24.64 and a beta of 0.87.
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/2016/10/12/hancock-holding-co-hbhc-given-market-perform-rating-at-keefe-bruyette-woods.html
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, beating the consensus estimate of $0.45 by $0.14. The business earned $229 million during the quarter, compared to analysts’ expectations of $229.18 million. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. On average, analysts forecast that Hancock Holding will post $1.81 EPS for the current 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, September 1st. Hancock Holding’s dividend payout ratio is currently 71.11%.
In other news, EVP Stephen E. Barker sold 2,550 shares of the business’s 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 of the company’s stock, valued at $293,498.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider George A. Schloegel bought 4,633 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was bought 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 approximately $7,370,532.64. The disclosure for this purchase can be found here. 1.45% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBHC. BlackRock Institutional Trust Company N.A. raised its position in Hancock Holding by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,285,736 shares of the financial services provider’s stock worth $52,480,000 after buying an additional 36,628 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Hancock Holding by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 1,495,817 shares of the financial services provider’s stock worth $39,056,000 after buying an additional 194,334 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Hancock Holding during the first quarter worth about $142,000. State Street Corp raised its position in Hancock Holding by 5.1% in the first quarter. State Street Corp now owns 4,302,929 shares of the financial services provider’s stock worth $98,805,000 after buying an additional 208,608 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Hancock Holding by 12.0% in the first quarter. Wellington Management Group LLP now owns 2,368,154 shares of the financial services provider’s stock worth $54,372,000 after buying an additional 253,151 shares during the last quarter. 81.16% of the stock is currently owned by institutional investors and hedge funds.
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.
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.