Hancock Holding Co. (HBHC) Forecasted to Earn Q1 2017 Earnings of $0.55 Per Share
Hancock Holding Co. (NASDAQ:HBHC) – Equities researchers at Jefferies Group issued their Q1 2017 EPS estimates for Hancock Holding in a report issued on Tuesday. Jefferies Group analyst E. Harmon forecasts that the firm will earn $0.55 per share for the quarter. Jefferies Group has a “Hold” rating and a $28.00 price objective on the stock. Jefferies Group also issued estimates for Hancock Holding’s Q2 2017 earnings at $0.62 EPS and Q3 2017 earnings at $0.65 EPS.
Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, topping 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 business earned $229 million during the quarter, compared to analysts’ expectations of $229.18 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.
Several other equities analysts have also recently weighed in on the company. Bank of America Corp. raised Hancock Holding from an “underperform” rating to a “neutral” rating in a report on Friday, July 22nd. SunTrust Banks Inc. cut Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Monday, September 19th. Hovde Group increased their price target on Hancock Holding from $27.00 to $32.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. TheStreet raised Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Finally, Zacks Investment Research cut Hancock Holding from a “hold” rating to a “sell” rating in a report 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. The stock currently has an average rating of “Hold” and a consensus price target of $29.57.
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Hancock Holding (NASDAQ:HBHC) traded down 2.75% during trading on Thursday, reaching $32.21. The company had a trading volume of 375,462 shares. Hancock Holding has a one year low of $20.01 and a one year high of $33.39. The firm has a market capitalization of $2.50 billion, a P/E ratio of 23.89 and a beta of 0.87. The firm’s 50-day moving average price is $32.20 and its 200 day moving average price is $27.98.
The firm also recently declared 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 was Thursday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.90%. Hancock Holding’s payout ratio is presently 71.11%.
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 stock was acquired at an average price of $28.64 per share, for a total transaction of $132,689.12. Following the purchase, the insider now owns 257,351 shares of the company’s stock, valued at approximately $7,370,532.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen E. Barker sold 2,550 shares of the stock in a transaction 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 completion of the sale, the executive vice president now 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 modified their holdings of the company. Aperio Group LLC acquired a new stake in shares of Hancock Holding during the first quarter worth about $1,695,000. Ngam Advisors L.P. raised its position in shares of Hancock Holding by 60.7% in the first quarter. Ngam Advisors L.P. now owns 19,852 shares of the financial services provider’s stock worth $456,000 after buying an additional 7,497 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Hancock Holding by 177.2% in the first quarter. Prudential Financial Inc. now owns 500,110 shares of the financial services provider’s stock worth $11,482,000 after buying an additional 319,708 shares during the last quarter. BlackRock Inc. raised its position in shares of Hancock Holding by 8.9% in the first quarter. BlackRock Inc. now owns 32,084 shares of the financial services provider’s stock worth $737,000 after buying an additional 2,613 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Hancock Holding by 27.3% in the first quarter. BlackRock Group LTD now owns 55,184 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 11,826 shares during the last quarter. Institutional investors and hedge funds own 81.16% of the company’s stock.
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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