Hancock (HBHC) Upgraded to Outperform at Hovde Group

Hancock (NASDAQ:HBHC) was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, The Fly reports.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Hancock from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research raised shares of Hancock from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, December 19th. SunTrust Banks reissued a “hold” rating and issued a $53.00 price objective on shares of Hancock in a report on Wednesday, November 29th. ValuEngine cut shares of Hancock from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Finally, Jefferies Group restated a “hold” rating and issued a $52.00 target price on shares of Hancock in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Hancock has an average rating of “Buy” and an average target price of $52.25.

Shares of Hancock (NASDAQ HBHC) opened at $50.45 on Wednesday. The company has a market cap of $4,322.93, a PE ratio of 20.26, a P/E/G ratio of 2.32 and a beta of 0.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.82 and a current ratio of 0.82. Hancock has a twelve month low of $41.05 and a twelve month high of $53.35.

Hancock (NASDAQ:HBHC) last announced its 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. The business had revenue of $269.97 million during the quarter, compared to the consensus estimate of $279.80 million. Hancock had a net margin of 19.08% and a return on equity of 8.27%. During the same quarter in the previous year, the firm posted $0.59 EPS. analysts forecast that Hancock will post 2.74 earnings per share for the current fiscal year.

In related news, insider Samuel B. Kendricks sold 2,982 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.62, for a total transaction of $144,984.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.15% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Hancock by 18,052.0% during the first quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock worth $413,132,000 after acquiring an additional 9,019,887 shares in the last quarter. Vanguard Group Inc. boosted its stake in Hancock by 4.1% during the second quarter. Vanguard Group Inc. now owns 7,524,104 shares of the financial services provider’s stock worth $368,682,000 after acquiring an additional 294,346 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Hancock by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,968,108 shares of the financial services provider’s stock worth $257,226,000 after acquiring an additional 320,852 shares in the last quarter. State Street Corp boosted its stake in Hancock by 27.6% during the first quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock worth $232,799,000 after acquiring an additional 1,103,976 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Hancock by 6.6% during the third quarter. BlackRock Fund Advisors now owns 4,122,162 shares of the financial services provider’s stock worth $133,682,000 after acquiring an additional 254,521 shares in the last quarter. Institutional investors and hedge funds own 77.21% of the company’s stock.

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About Hancock

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.

The Fly

Analyst Recommendations for Hancock (NASDAQ:HBHC)