Analysts Anticipate Hancock Holding Company (NASDAQ:HBHC) Will Post Quarterly Sales of $265.13 Million
Wall Street brokerages expect Hancock Holding Company (NASDAQ:HBHC) to announce sales of $265.13 million for the current quarter, according to Zacks. Four analysts have provided estimates for Hancock Holding Company’s earnings, with the highest sales estimate coming in at $268.10 million and the lowest estimate coming in at $261.20 million. Hancock Holding Company reported sales of $228.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.9%. The business is scheduled to report its next earnings results after the market closes on Tuesday, July 18th.
On average, analysts expect that Hancock Holding Company will report full year sales of $265.13 million for the current fiscal year, with estimates ranging from $1.06 billion to $1.08 billion. For the next financial year, analysts expect that the firm will report sales of $1.14 billion per share, with estimates ranging from $1.12 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Hancock Holding Company.
Hancock Holding Company (NASDAQ:HBHC) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $245.18 million for the quarter, compared to analyst estimates of $245.23 million. Hancock Holding Company had a net margin of 19.25% and a return on equity of 7.65%. During the same quarter in the previous year, the firm posted $0.05 EPS.
HBHC has been the subject of a number of research reports. Zacks Investment Research raised Hancock Holding Company from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Monday, March 20th. Jefferies Group LLC reissued a “hold” rating and set a $51.00 target price on shares of Hancock Holding Company in a report on Tuesday, April 4th. Keefe, Bruyette & Woods set a $45.00 target price on Hancock Holding Company and gave the stock a “hold” rating in a report on Tuesday, April 4th. Stephens reissued a “hold” rating on shares of Hancock Holding Company in a report on Friday, April 28th. Finally, Piper Jaffray Companies raised Hancock Holding Company from a “neutral” rating to an “overweight” rating in a report on Friday, May 12th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Hancock Holding Company has a consensus rating of “Buy” and an average price target of $45.53.
Shares of Hancock Holding Company (NASDAQ HBHC) traded down 0.30% during midday trading on Friday, reaching $50.05. 473,656 shares of the company’s stock traded hands. The stock has a 50 day moving average of $47.61 and a 200-day moving average of $46.02. Hancock Holding Company has a 52-week low of $24.49 and a 52-week high of $52.94. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 20.98 and a beta of 0.87.
In related news, EVP Stephen E. Barker sold 9,966 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $50.28, for a total value of $501,090.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George A. Schloegel sold 4,953 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $50.78, for a total value of $251,513.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,669 shares of company stock valued at $3,424,090. 1.15% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC bought a new position in Hancock Holding Company during the fourth quarter worth approximately $249,000. Norges Bank acquired a new position in Hancock Holding Company during the fourth quarter worth about $37,315,000. Teachers Advisors LLC boosted its position in Hancock Holding Company by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 129,827 shares of the financial services provider’s stock worth $5,596,000 after buying an additional 4,077 shares in the last quarter. Foundry Partners LLC boosted its position in Hancock Holding Company by 1.4% in the first quarter. Foundry Partners LLC now owns 430,871 shares of the financial services provider’s stock worth $19,626,000 after buying an additional 6,019 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Hancock Holding Company by 7.7% in the first quarter. Bank of Montreal Can now owns 7,662 shares of the financial services provider’s stock worth $349,000 after buying an additional 545 shares in the last quarter. 77.76% of the stock is owned by institutional investors and hedge funds.
Hancock Holding Company Company Profile
Hancock Holding Company is a financial services company that provides a network of service financial choices to the Gulf South region, through its bank subsidiary, Whitney Bank (the Bank), a Mississippi state bank. The Company operates through overall banking operations segment. The Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida, and Whitney Bank in Louisiana and Texas.
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