Wedge Capital Management L L P NC reduced its stake in shares of Hancock Holding Co. (NASDAQ:HBHC) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 360,225 shares of the financial services provider’s stock after selling 5,660 shares during the period. Wedge Capital Management L L P NC’s holdings in Hancock Holding were worth $9,405,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in Hancock Holding by 77.0% in the second quarter. LS Investment Advisors LLC now owns 4,690 shares of the financial services provider’s stock valued at $122,000 after buying an additional 2,041 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Hancock Holding during the first quarter valued at approximately $142,000. Bank of Montreal Can acquired a new stake in Hancock Holding during the second quarter valued at approximately $142,000. Capstone Asset Management Co. raised its stake in Hancock Holding by 5.1% in the second quarter. Capstone Asset Management Co. now owns 9,359 shares of the financial services provider’s stock valued at $244,000 after buying an additional 450 shares in the last quarter. Finally, Ngam Advisors L.P. raised its stake in Hancock Holding by 60.7% in the first quarter. Ngam Advisors L.P. now owns 19,852 shares of the financial services provider’s stock valued at $456,000 after buying an additional 7,497 shares in the last quarter. 81.16% of the stock is owned by institutional investors.
Shares of Hancock Holding Co. (NASDAQ:HBHC) traded up 1.12% on Friday, reaching $32.46. 360,507 shares of the company’s stock were exchanged. Hancock Holding Co. has a one year low of $20.01 and a one year high of $33.39. The firm has a 50 day moving average of $32.24 and a 200 day moving average of $28.07. The firm has a market capitalization of $2.52 billion, a P/E ratio of 24.08 and a beta of 0.87.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 earned $229 million during the quarter, compared to analyst estimates of $229.18 million. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Hancock Holding Co. will post $1.81 EPS for the current year.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, July 26th. TheStreet upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Hovde Group boosted their price target on shares of Hancock Holding from $27.00 to $32.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. Jefferies Group restated a “hold” rating and issued a $28.00 price target on shares of Hancock Holding in a report on Thursday, July 7th. Finally, SunTrust Banks Inc. lowered shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Monday, September 19th. 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 an average rating of “Hold” and an average price target of $29.57.
In other news, EVP Stephen E. Barker sold 2,550 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $293,498.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider George A. Schloegel acquired 4,633 shares of the stock in a transaction dated Thursday, August 4th. The stock was acquired at an average cost of $28.64 per share, with a total value of $132,689.12. Following the purchase, the insider now owns 257,351 shares of the company’s stock, 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.
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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