According to Zacks, “Hancock continues to streamline its business in order to reduce costs and improve efficiency. Moreover, the company’s strategic initiatives are expected to accelerate revenue generation going forward. Also, its deposits growth will help lower the funding costs, thereby leading to a meaningful deployment of capital generated from these deposits. However, persistent margin compression is a matter of concern, unless there is a significant change in the prevailing interest rate environment and loan growth. Also, stringent regulations and the impact of exposure to energy sector loans continue to affect the company’s financials in the near-term.”
HBHC has been the topic of a number of other reports. SunTrust Banks Inc. lowered shares of Hancock Holding from a buy rating to a neutral rating and set a $34.00 price objective on the stock. in a report on Monday, September 19th. Piper Jaffray Cos. restated a neutral rating and set a $29.00 price objective (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th. TheStreet upgraded shares of Hancock Holding from a hold rating to a buy rating in a report on Thursday, July 14th. Jefferies Group restated a hold rating and set a $28.00 price objective on shares of Hancock Holding in a report on Thursday, July 7th. Finally, Bank of America Corp. upgraded shares of Hancock Holding from an underperform rating to a neutral rating in a report on Friday, July 22nd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $29.57.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.05 on Monday. Hancock Holding has a 12-month low of $20.01 and a 12-month high of $32.94. The firm’s 50-day moving average is $31.71 and its 200-day moving average is $27.41. The company has a market capitalization of $2.49 billion, a PE ratio of 23.78 and a beta of 0.95.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.14. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%. The business had revenue of $229 million for the quarter, compared to analyst estimates of $229.18 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts anticipate that Hancock Holding will post $1.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. Hancock Holding’s dividend payout ratio is presently 71.11%.
In other news, insider George A. Schloegel acquired 4,633 shares of the stock in a transaction dated Thursday, August 4th. The shares were bought at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the purchase, the insider now directly owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $29.45, for a total transaction of $75,097.50. Following the transaction, the executive vice president now owns 9,966 shares in the company, valued at $293,498.70. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its position in Hancock Holding by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,285,736 shares of the financial services provider’s stock valued at $52,480,000 after buying an additional 36,628 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Hancock Holding during the first quarter valued at $142,000. State Street Corp raised its position in Hancock Holding by 5.1% in the first quarter. State Street Corp now owns 4,302,929 shares of the financial services provider’s stock valued at $98,805,000 after buying an additional 208,608 shares in the last quarter. Wellington Management Group LLP raised its position in Hancock Holding by 12.0% in the first quarter. Wellington Management Group LLP now owns 2,368,154 shares of the financial services provider’s stock valued at $54,372,000 after buying an additional 253,151 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Hancock Holding during the second quarter valued at $18,529,000. Institutional investors own 81.16% of the company’s stock.
About Hancock Holding
Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The Company operates through overall banking operations segment. Whitney Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas.
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