Shares of Hancock Holding Co. (NASDAQ:HBHC) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $29.60.
A number of brokerages recently weighed in on HBHC. Jefferies Group restated a “hold” rating and issued a $28.00 price objective on shares of Hancock Holding in a report on Thursday, July 7th. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Tuesday, July 26th. Piper Jaffray Cos. restated a “neutral” rating and issued a $29.00 price objective (up previously 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. Finally, Hovde Group boosted their price target on shares of Hancock Holding from $27.00 to $32.00 and gave the stock a “market perform” rating in a report on Tuesday, July 26th.
In other news, EVP Stephen E. Barker sold 2,550 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value of $75,097.50. Following the completion of the transaction, the executive vice president now owns 9,966 shares in the company, valued at approximately $293,498.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider George A. Schloegel bought 4,633 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average price of $28.64 per share, with a total value of $132,689.12. Following the acquisition, the insider now owns 257,351 shares in the company, valued at approximately $7,370,532.64. The disclosure for this purchase can be found here. 1.45% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of HBHC. Metropolitan Life Insurance Co. NY boosted its position in shares of Hancock Holding by 2.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 122,235 shares of the financial services provider’s stock valued at $2,807,000 after buying an additional 2,583 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of 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 during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Hancock Holding by 53.6% in the first quarter. Goldman Sachs Group Inc. now owns 457,715 shares of the financial services provider’s stock valued at $10,509,000 after buying an additional 159,820 shares during the last quarter. AXA boosted its position in shares of Hancock Holding by 84.3% in the first quarter. AXA now owns 142,300 shares of the financial services provider’s stock valued at $3,267,000 after buying an additional 65,100 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Hancock Holding during the first quarter valued at about $142,000. Institutional investors and hedge funds own 81.16% of the company’s stock.
Hancock Holding (NASDAQ:HBHC) opened at 33.03 on Friday. The stock has a market cap of $2.56 billion, a PE ratio of 24.50 and a beta of 0.87. The company’s 50 day moving average is $32.15 and its 200 day moving average is $27.94. Hancock Holding has a one year low of $20.01 and a one year high of $33.39.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.14. The firm earned $229 million during the quarter, compared to analysts’ expectations of $229.18 million. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. On average, equities research analysts expect that Hancock Holding will post $1.81 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, September 1st. Hancock Holding’s payout ratio is 71.11%.
Hancock Holding Company Profile
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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