SunTrust Banks Research Analysts Lift Earnings Estimates for Hancock Holding Company (HBHC)
Hancock Holding Company (NASDAQ:HBHC) – Research analysts at SunTrust Banks increased their Q4 2017 EPS estimates for Hancock Holding in a report issued on Thursday. SunTrust Banks analyst J. Demba now anticipates that the financial services provider will earn $0.82 per share for the quarter, up from their prior estimate of $0.78. SunTrust Banks currently has a “Hold” rating and a $50.00 target price on the stock. SunTrust Banks also issued estimates for Hancock Holding’s FY2019 earnings at $3.64 EPS.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Hancock Holding had a net margin of 19.08% and a return on equity of 8.27%. The company had revenue of $269.97 million during the quarter, compared to analysts’ expectations of $279.80 million. During the same quarter in the previous year, the company earned $0.59 EPS. ILLEGAL ACTIVITY WARNING: “SunTrust Banks Research Analysts Lift Earnings Estimates for Hancock Holding Company (HBHC)” was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/10/23/suntrust-banks-research-analysts-lift-earnings-estimates-for-hancock-holding-company-hbhc.html.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, July 18th. Keefe, Bruyette & Woods upgraded shares of 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. BidaskClub lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of Hancock Holding in a report on Friday, July 14th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $52.00 price objective on shares of Hancock Holding in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Hancock Holding currently has a consensus rating of “Hold” and an average price target of $51.92.
Shares of Hancock Holding (NASDAQ HBHC) opened at 50.45 on Monday. The stock’s 50 day moving average is $46.60 and its 200 day moving average is $46.73. Hancock Holding has a 12 month low of $32.00 and a 12 month high of $52.94. The firm has a market cap of $4.37 billion, a PE ratio of 20.20 and a beta of 0.88.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Hancock Holding by 18,052.0% during the 1st quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock worth $413,132,000 after purchasing an additional 9,019,887 shares during the last quarter. Vanguard Group Inc. raised its holdings in Hancock Holding by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 7,524,104 shares of the financial services provider’s stock worth $368,682,000 after purchasing an additional 294,346 shares during the last quarter. State Street Corp raised its holdings in Hancock Holding by 27.6% during the 1st quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock worth $232,799,000 after purchasing an additional 1,103,976 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Hancock Holding by 2.5% during the 2nd quarter. Macquarie Group Ltd. now owns 2,545,449 shares of the financial services provider’s stock worth $124,727,000 after purchasing an additional 62,406 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Hancock Holding by 22.3% during the 2nd quarter. Northern Trust Corp now owns 1,659,620 shares of the financial services provider’s stock worth $81,321,000 after purchasing an additional 302,101 shares during the last quarter. Hedge funds and other 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 that occurred on Thursday, July 27th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cecil W. Knight, Jr. purchased 2,000 shares of the stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $41.40 per share, with a total value of $82,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,909 shares of company stock valued at $827,307. Company insiders own 1.15% of the company’s stock.
Hancock Holding Company Profile
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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