Hancock Holding (HBHC) Given Consensus Recommendation of “Buy” by Brokerages
Hancock Holding (NASDAQ:HBHC) has earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $54.90.
A number of equities research analysts have issued reports on HBHC shares. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price objective on shares of Hancock in a report on Wednesday, October 4th. ValuEngine lowered shares of Hancock from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Jefferies Group reaffirmed a “hold” rating and set a $52.00 price objective on shares of Hancock in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Hancock from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Hancock in a report on Thursday, October 5th.
Shares of Hancock (NASDAQ HBHC) opened at $55.85 on Friday. Hancock has a one year low of $41.05 and a one year high of $56.15. The company has a market cap of $4,638.10, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12.
In related news, insider Samuel B. Kendricks sold 2,982 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.62, for a total value of $144,984.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.15% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new position in Hancock during the second quarter worth $29,145,000. Citadel Advisors LLC boosted its stake in Hancock by 79.2% during the second quarter. Citadel Advisors LLC now owns 1,204,824 shares of the financial services provider’s stock worth $59,037,000 after buying an additional 532,320 shares during the period. Northern Trust Corp boosted its stake in Hancock by 22.3% during the second quarter. Northern Trust Corp now owns 1,659,620 shares of the financial services provider’s stock worth $81,321,000 after buying an additional 302,101 shares during the period. 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 buying an additional 294,346 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Hancock during the third quarter worth $11,662,000. 77.21% of the stock is owned by hedge funds and other institutional investors.
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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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