Hancock Holding Company (HBHC) Earns “Hold” Rating from SunTrust Banks, Inc.
Hancock Holding Company (NASDAQ:HBHC)‘s stock had its “hold” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a report released on Wednesday. They currently have a $50.00 price target on the financial services provider’s stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 2.99% from the stock’s previous close.
A number of other research firms also recently commented on HBHC. Piper Jaffray Companies set a $52.00 price target on Hancock Holding and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, July 7th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price objective on shares of Hancock Holding in a research note on Friday, July 14th. BidaskClub downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Keefe, Bruyette & Woods set a $50.00 target price on shares of Hancock Holding and gave the company a “hold” rating in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $51.81.
Shares of Hancock Holding (HBHC) traded down 1.22% during mid-day trading on Wednesday, reaching $48.55. 298,996 shares of the company’s stock traded hands. Hancock Holding has a 12 month low of $31.73 and a 12 month high of $52.94. The firm has a 50 day moving average price of $44.66 and a 200-day moving average price of $46.33. The stock has a market cap of $4.11 billion, a PE ratio of 20.26 and a beta of 0.88.
Hancock Holding (NASDAQ:HBHC) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $267.20 million during the quarter, compared to the consensus estimate of $265.03 million. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. During the same period in the prior year, the company posted $0.59 EPS. On average, analysts predict that Hancock Holding will post $2.71 earnings per share for the current fiscal year.
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In other Hancock Holding news, Director Randall W. Hanna sold 2,300 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $43.93, for a total transaction of $101,039.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cecil W. Knight, Jr. bought 2,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were bought at an average cost of $41.40 per share, for a total transaction of $82,800.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 17,909 shares of company stock valued at $827,307. Insiders own 1.15% of the company’s stock.
Several large investors have recently made changes to their positions in HBHC. Ameritas Investment Partners Inc. lifted its stake in shares of Hancock Holding by 1.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 32,553 shares of the financial services provider’s stock valued at $1,595,000 after acquiring an additional 315 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of Hancock Holding during the 2nd quarter valued at $1,840,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Hancock Holding during the 2nd quarter valued at $2,323,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Hancock Holding by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,164,149 shares of the financial services provider’s stock valued at $57,044,000 after acquiring an additional 75,774 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Hancock Holding during the 2nd quarter valued at $29,145,000. Institutional investors own 76.98% of the company’s stock.
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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