Hancock Holding Co. (HBHC) Announces Quarterly Earnings Results
Hancock Holding Co. (NASDAQ:HBHC) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%.
Shares of Hancock Holding (NASDAQ:HBHC) traded up 0.62% on Tuesday, hitting $32.28. 672,741 shares of the stock traded hands. The firm’s 50 day moving average is $32.24 and its 200-day moving average is $28.21. The company has a market cap of $2.50 billion, a PE ratio of 23.95 and a beta of 0.87. Hancock Holding has a 12 month low of $20.01 and a 12 month high of $33.39.
Several brokerages recently commented on HBHC. Jefferies Group reissued a “hold” rating and issued a $28.00 price target on shares of Hancock Holding in a report on Thursday, July 7th. Zacks Investment Research raised shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, July 26th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $27.50) on shares of Hancock Holding in a research note on Sunday, July 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Hancock Holding in a research note on Wednesday, October 12th. Finally, TheStreet raised shares of Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.57.
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In related news, insider George A. Schloegel acquired 4,633 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were acquired 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 directly owns 257,351 shares in the company, valued at $7,370,532.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stephen E. Barker sold 2,550 shares of the stock in a transaction 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 sale, the executive vice president now directly 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.
Several hedge funds have recently bought and sold shares of the stock. APG Asset Management N.V. bought a new stake in Hancock Holding during the second quarter worth approximately $4,376,000. Raymond James & Associates bought a new stake in Hancock Holding during the second quarter worth approximately $269,000. Teachers Advisors Inc. raised its stake in Hancock Holding by 8.4% in the second quarter. Teachers Advisors Inc. now owns 124,707 shares of the financial services provider’s stock worth $3,256,000 after buying an additional 9,678 shares during the last quarter. United Services Automobile Association raised its stake in Hancock Holding by 2.7% in the second quarter. United Services Automobile Association now owns 316,230 shares of the financial services provider’s stock worth $8,257,000 after buying an additional 8,250 shares during the last quarter. Finally, Credit Suisse AG raised its stake in Hancock Holding by 187.8% in the second quarter. Credit Suisse AG now owns 331,225 shares of the financial services provider’s stock worth $8,649,000 after buying an additional 216,148 shares during the last quarter. 81.13% 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.
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