Jefferies Group Brokers Boost Earnings Estimates for Hancock Holding (HBHC)
Hancock Holding (NASDAQ:HBHC) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for shares of Hancock in a report released on Tuesday. Jefferies Group analyst C. Haire now expects that the financial services provider will post earnings per share of $2.78 for the year, up from their prior forecast of $2.77. Jefferies Group currently has a “Hold” rating and a $52.00 target price on the stock. Jefferies Group also issued estimates for Hancock’s Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.98 EPS and Q4 2018 earnings at $0.99 EPS.
A number of other brokerages have also issued reports on HBHC. BidaskClub raised Hancock from a “hold” rating to a “buy” rating in a research report on Thursday. SunTrust Banks reissued a “hold” rating and issued a $57.00 target price on shares of Hancock in a research report on Tuesday. Zacks Investment Research raised Hancock from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, December 19th. Hovde Group raised Hancock from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research report on Wednesday, December 27th. Finally, Sandler O’Neill raised Hancock from a “hold” rating to a “buy” rating in a research report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $53.23.
Hancock (NASDAQ:HBHC) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $269.97 million for the quarter, compared to analyst estimates of $279.80 million. Hancock had a return on equity of 8.27% and a net margin of 19.08%. During the same quarter in the previous year, the company earned $0.59 earnings per share.
Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Hancock by 25.9% in the second quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the financial services provider’s stock valued at $137,000 after buying an additional 581 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hancock by 14.2% in 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 during the last quarter. Sabal Trust CO purchased a new position in Hancock in the third quarter valued at $216,000. Adviser Investments LLC purchased a new position in Hancock in the third quarter valued at $224,000. Finally, Quantbot Technologies LP increased its holdings in Hancock by 82.0% in 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 during the last quarter. 77.21% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Samuel B. Kendricks sold 2,982 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $48.62, for a total transaction of $144,984.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.15% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Monday, December 4th. Hancock’s dividend payout ratio is currently 38.55%.
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Hancock 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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