$279.98 Million in Sales Expected for Hancock Holding Company (HBHC) This Quarter
Wall Street analysts expect Hancock Holding Company (NASDAQ:HBHC) to announce sales of $279.98 million for the current quarter, Zacks reports. Four analysts have issued estimates for Hancock Holding’s earnings, with the highest sales estimate coming in at $281.30 million and the lowest estimate coming in at $278.70 million. Hancock Holding reported sales of $226.52 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.6%. The company is expected to announce 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 business will report sales of $1.17 billion per share, with estimates ranging from $1.16 billion to $1.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Hancock Holding.
Hancock Holding (NASDAQ:HBHC) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. The business had revenue of $267.20 million for the quarter, compared to the consensus estimate of $265.03 million. During the same period in the previous year, the firm earned $0.59 EPS.
HBHC has been the topic of a number of research analyst reports. ValuEngine upgraded Hancock Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Hancock Holding from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, July 7th. Piper Jaffray Companies set a $52.00 price target on Hancock Holding and gave the stock a “buy” rating in a report on Thursday. Stephens restated a “hold” rating on shares of Hancock Holding in a report on Friday, April 28th. Finally, Keefe, Bruyette & Woods set a $50.00 price target on Hancock Holding and gave the stock a “hold” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.03.
In other news, Director Randall W. Hanna sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $43.93, for a total transaction of $101,039.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John M. Hairston sold 12,240 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $46.60, for a total value of $570,384.00. The disclosure for this sale can be found here. Insiders have sold 36,855 shares of company stock worth $1,776,738 over the last ninety days. 1.15% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Hancock Holding by 18,052.0% in the first quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock worth $413,132,000 after buying an additional 9,019,887 shares during the last quarter. State Street Corp raised its position in shares of Hancock Holding by 27.6% in the first quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock worth $232,799,000 after buying an additional 1,103,976 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Hancock Holding during the second quarter worth $29,145,000. Vanguard Group Inc. raised its position in shares of Hancock Holding by 8.1% in the first quarter. Vanguard Group Inc. now owns 7,229,758 shares of the financial services provider’s stock worth $329,316,000 after buying an additional 544,041 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Hancock Holding by 79.2% in the second quarter. Citadel Advisors LLC now owns 1,204,824 shares of the financial services provider’s stock worth $59,037,000 after buying an additional 532,320 shares during the last quarter. 77.36% of the stock is currently owned by institutional investors.
Shares of Hancock Holding (NASDAQ HBHC) opened at 44.05 on Friday. The stock’s 50 day moving average is $46.38 and its 200-day moving average is $46.69. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 18.38 and a beta of 0.85. Hancock Holding has a 12-month low of $31.12 and a 12-month high of $52.94.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, August 31st. Hancock Holding’s payout ratio is 40.00%.
About Hancock Holding
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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