Zacks: Brokerages Expect Hancock Holding Company (HBHC) Will Announce Quarterly Sales of $279.98 Million
Wall Street brokerages forecast that Hancock Holding Company (NASDAQ:HBHC) will post sales of $279.98 million for the current quarter, Zacks reports. Four analysts have provided estimates for Hancock Holding’s earnings, with the lowest sales estimate coming in at $278.70 million and the highest estimate coming in at $281.30 million. Hancock Holding reported sales of $226.52 million during the same quarter last year, which indicates a positive year over year growth rate of 23.6%. The firm is scheduled to report its next earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Hancock Holding will report full year sales of $279.98 million for the current financial year. For the next financial year, analysts expect that the firm will report sales of $1.17 billion per share, with estimates ranging from $1.16 billion to $1.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Hancock Holding.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $267.20 million during the quarter, compared to analysts’ expectations of $265.03 million. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. During the same quarter last year, the business posted $0.59 EPS.
A number of equities research analysts have recently issued reports on HBHC shares. ValuEngine raised Hancock Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Hancock Holding from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, July 7th. BidaskClub lowered Hancock Holding from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price on shares of Hancock Holding in a research report on Friday, July 14th. Finally, Stephens reaffirmed a “hold” rating on shares of Hancock Holding in a research report on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $49.41.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 46.20 on Monday. The stock has a market cap of $3.91 billion, a PE ratio of 19.31 and a beta of 0.85. The company’s 50-day moving average price is $48.10 and its 200-day moving average price is $46.83. Hancock Holding has a 52-week low of $29.03 and a 52-week high of $52.94.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 31st. Hancock Holding’s payout ratio is 40.00%.
In related news, CEO John M. Hairston sold 12,240 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $46.60, for a total transaction of $570,384.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph S. Exnicios sold 3,369 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $46.27, for a total value of $155,883.63. The disclosure for this sale can be found here. Insiders have sold 35,962 shares of company stock worth $1,743,235 over the last three months. 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 HBHC. PNC Financial Services Group Inc. raised its position in Hancock Holding by 72.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the financial services provider’s stock valued at $101,000 after buying an additional 939 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Hancock Holding by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,272 shares of the financial services provider’s stock valued at $103,000 after buying an additional 16 shares during the last quarter. Quantbot Technologies LP acquired a new position in Hancock Holding during the first quarter valued at $118,000. Tyers Asset Management LLC raised its position in Hancock Holding by 0.7% in the first quarter. Tyers Asset Management LLC now owns 3,124 shares of the financial services provider’s stock valued at $142,000 after buying an additional 22 shares during the last quarter. Finally, Flinton Capital Management LLC raised its position in Hancock Holding by 0.7% in the first quarter. Flinton Capital Management LLC now owns 3,976 shares of the financial services provider’s stock valued at $181,000 after buying an additional 28 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.
Hancock Holding 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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