Hancock Holding Company (HBHC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Hancock Holding Company (NASDAQ:HBHC) have earned a consensus rating of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $51.28.
A number of equities analysts have commented on HBHC shares. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price objective on shares of Hancock Holding in a research note on Friday, July 14th. Zacks Investment Research raised Hancock Holding from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, July 18th. Piper Jaffray Companies reissued an “overweight” rating and issued a $52.00 price objective on shares of Hancock Holding in a research note on Thursday, October 5th. BidaskClub lowered 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 price objective on Hancock Holding and gave the stock a “hold” rating in a research note on Friday, August 11th.
In other 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cecil W. Knight, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were purchased 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. Insiders have sold 17,909 shares of company stock worth $827,307 in the last ninety days. 1.15% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its stake in shares of Hancock Holding by 1.0% during the second 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 period. Bank of Nova Scotia acquired a new position in shares of Hancock Holding during the second quarter valued at $1,840,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Hancock Holding during the second quarter valued at $2,323,000. The Manufacturers Life Insurance Company lifted its stake in shares of Hancock Holding by 7.0% during the second 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 during the period. Finally, Janus Henderson Group PLC acquired a new position in shares of Hancock Holding during the second quarter valued at $29,145,000. 76.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hancock Holding (HBHC) traded up 0.30% during midday trading on Wednesday, hitting $49.35. 35,471 shares of the company were exchanged. The company’s 50 day moving average price is $45.41 and its 200 day moving average price is $46.51. Hancock Holding has a one year low of $31.73 and a one year high of $52.94. The firm has a market cap of $4.18 billion, a P/E ratio of 20.56 and a beta of 0.88.
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 company had revenue of $267.20 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.59 earnings per share. Equities analysts expect that Hancock Holding will post $2.70 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, August 31st. Hancock Holding’s dividend payout ratio (DPR) is presently 40.00%.
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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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