Jefferies Group Comments on Hancock Holding Company’s Q3 2017 Earnings (HBHC)
Hancock Holding Company (NASDAQ:HBHC) – Investment analysts at Jefferies Group decreased their Q3 2017 earnings per share estimates for shares of Hancock Holding in a research report issued on Tuesday. Jefferies Group analyst C. Haire now forecasts that the financial services provider will post earnings of $0.74 per share for the quarter, down from their prior estimate of $0.75. Jefferies Group has a “Hold” rating and a $51.00 price target on the stock. Jefferies Group also issued estimates for Hancock Holding’s Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.83 EPS and Q4 2018 earnings at $0.86 EPS.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings data 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 business 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 period in the prior year, the company earned $0.59 earnings per share.
Several other analysts also recently weighed in on HBHC. SunTrust Banks, Inc. reissued a “hold” rating and issued a $50.00 target price on shares of Hancock Holding in a report on Wednesday, October 4th. BidaskClub downgraded Hancock Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Keefe, Bruyette & Woods set a $50.00 price objective on Hancock Holding and gave the company a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research downgraded Hancock Holding from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Hancock Holding in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.81.
Hancock Holding (NASDAQ HBHC) opened at 49.20 on Wednesday. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 20.53 and a beta of 0.88. The stock has a 50 day moving average price of $45.41 and a 200-day moving average price of $46.51. Hancock Holding has a one year low of $31.73 and a one year high of $52.94.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Suntrust Banks Inc. raised its position in shares of Hancock Holding by 0.7% in the 2nd quarter. Suntrust Banks Inc. now owns 16,558 shares of the financial services provider’s stock worth $810,000 after buying an additional 110 shares during the period. Advisor Group Inc. raised its position in shares of Hancock Holding by 1.2% in the 2nd quarter. Advisor Group Inc. now owns 9,304 shares of the financial services provider’s stock worth $412,000 after buying an additional 113 shares during the period. World Asset Management Inc raised its position in shares of Hancock Holding by 2.3% in the 2nd quarter. World Asset Management Inc now owns 5,342 shares of the financial services provider’s stock worth $262,000 after buying an additional 119 shares during the period. Teacher Retirement System of Texas raised its position in shares of Hancock Holding by 2.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,774 shares of the financial services provider’s stock worth $332,000 after buying an additional 147 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Hancock Holding by 2.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,515 shares of the financial services provider’s stock worth $296,000 after buying an additional 185 shares during the period. 76.98% of the stock is currently owned by institutional investors and hedge funds.
In other Hancock Holding news, insider Joseph S. Exnicios sold 3,369 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $46.27, for a total transaction of $155,883.63. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John M. Hairston sold 12,240 shares of the stock in a transaction 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. In the last quarter, insiders have sold 17,909 shares of company stock worth $827,307. 1.15% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Thursday, August 31st. Hancock Holding’s dividend payout ratio (DPR) is presently 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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