Brokers Set Expectations for Hancock Holding Company’s FY2017 Earnings (HBHC)
Hancock Holding Company (NASDAQ:HBHC) – Analysts at Jefferies Group issued their FY2017 earnings estimates for shares of Hancock Holding in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire forecasts that the financial services provider will post earnings of $2.80 per share for the year. Jefferies Group has a “Hold” rating and a $52.00 price target on the stock.
Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.68. The company had revenue of $267.20 million for 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 previous year, the business earned $0.59 earnings per share.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Hancock Holding from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $52.00 target price on shares of Hancock Holding in a research report on Thursday, October 5th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $50.00 price objective on shares of Hancock Holding in a report on Wednesday, October 4th. Keefe, Bruyette & Woods upgraded Hancock Holding from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, August 21st. Finally, BidaskClub lowered Hancock Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $51.92.
Shares of Hancock Holding (NASDAQ HBHC) opened at 49.05 on Thursday. Hancock Holding has a 52-week low of $31.73 and a 52-week high of $52.94. The stock has a market capitalization of $4.16 billion, a P/E ratio of 20.47 and a beta of 0.88. The firm’s 50-day moving average price is $45.56 and its 200-day moving average price is $46.53.
Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Hancock Holding by 72.2% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hancock Holding by 14.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock valued at $159,000 after buying an additional 404 shares in the last quarter. Hayek Kallen Investment Management bought a new position in Hancock Holding during the second quarter valued at about $204,000. Canada Pension Plan Investment Board bought a new position in Hancock Holding during the second quarter valued at about $216,000. Finally, Quantbot Technologies LP raised its holdings in Hancock Holding by 82.0% during the second quarter. Quantbot Technologies LP now owns 4,745 shares of the financial services provider’s stock valued at $232,000 after buying an additional 2,138 shares in the last quarter. Institutional investors own 76.98% of the company’s stock.
In other Hancock Holding news, CEO John M. Hairston sold 12,240 shares of the firm’s stock in a transaction dated 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 is available through the SEC website. Also, Director Randall W. Hanna sold 2,300 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $43.93, for a total value of $101,039.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,909 shares of company stock worth $827,307. Corporate insiders own 1.15% of the company’s stock.
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. The ex-dividend date was Thursday, August 31st. This represents a $0.96 annualized dividend and a yield of 1.96%. Hancock Holding’s dividend payout ratio (DPR) is currently 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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