Hancock (NASDAQ:HBHC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
A number of other analysts have also weighed in on the stock. Hovde Group upgraded shares of Hancock from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, December 27th. Zacks Investment Research upgraded shares of Hancock from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price target on shares of Hancock in a research note on Friday, January 19th. SunTrust Banks reiterated a “hold” rating and issued a $57.00 price target on shares of Hancock in a research note on Tuesday, January 9th. Finally, Sandler O’Neill upgraded shares of Hancock from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Five research analysts have rated the stock with a hold rating, five 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 $56.75.
Hancock (HBHC) traded down $1.05 during trading hours on Wednesday, reaching $54.65. 471,494 shares of the company’s stock were exchanged, compared to its average volume of 564,012. The company has a market cap of $4,752.86, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Hancock has a 1-year low of $41.05 and a 1-year high of $56.20.
In related news, Director Frank E. Bertucci sold 3,031 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $55.00, for a total transaction of $166,705.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joy L. Phillips sold 14,630 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $55.44, for a total transaction of $811,087.20. The disclosure for this sale can be found here. Insiders sold 44,261 shares of company stock valued at $2,414,102 over the last quarter. Company insiders own 1.15% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerebellum GP LLC bought a new stake in Hancock during the fourth quarter valued at approximately $125,000. Signition LP bought a new stake in Hancock during the fourth quarter valued at approximately $224,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hancock by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,874 shares of the financial services provider’s stock valued at $241,000 after buying an additional 1,626 shares during the period. JOYN Advisors Inc. bought a new stake in Hancock during the fourth quarter valued at approximately $252,000. Finally, Virtu Financial LLC bought a new stake in Hancock during the fourth quarter valued at approximately $252,000. Institutional investors own 77.52% of the company’s stock.
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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