Hancock Holding Company (NASDAQ:HBHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Hancock’s shares outpaced the Zacks categorized Southeast Banks industry in the last one year. Estimates have been going down ahead of the company’s second-quarter 2017 earnings release. The company has positive record of earnings surprises in recent quarters. The company’s strategic initiatives on the back of several investments are expected to accelerate revenue generation, going forward. Moreover, the company’s acquisition of the First NBC Bank branches is expected to be accretive to earnings. However, continued pressure on net interest margin is expected to hurt financials in the near term. Also, exposure to risky loan portfolios remains a major concern for the company.”
Other research analysts have also issued reports about the stock. ValuEngine upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stephens restated a “hold” rating on shares of Hancock Holding in a report on Friday, April 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $47.00 price objective on shares of Hancock Holding in a report on Thursday, April 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 target price on shares of Hancock Holding in a research report on Tuesday, April 4th. Finally, BidaskClub downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Hancock Holding presently has a consensus rating of “Hold” and a consensus target price of $45.53.
Hancock Holding (NASDAQ HBHC) traded down 0.20% during midday trading on Monday, hitting $49.95. 129,490 shares of the stock traded hands. The stock’s 50-day moving average price is $47.61 and its 200 day moving average price is $46.02. Hancock Holding has a 52 week low of $27.55 and a 52 week high of $52.94. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 20.93 and a beta of 0.86.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.57 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Hancock Holding had a net margin of 19.25% and a return on equity of 7.65%. The business had revenue of $245.18 million during the quarter, compared to analyst estimates of $245.23 million. During the same period in the prior year, the business earned $0.05 EPS. On average, equities research analysts predict that Hancock Holding will post $2.79 EPS for the current year.
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In related news, Director Robert W. Roseberry sold 1,407 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $48.00, for a total transaction of $67,536.00. Following the sale, the director now directly owns 14,707 shares of the company’s stock, valued at approximately $705,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John M. Hairston sold 41,903 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $47.81, for a total transaction of $2,003,382.43. Following the sale, the chief executive officer now directly owns 73,544 shares in the company, valued at $3,516,138.64. The disclosure for this sale can be found here. Insiders have sold a total of 70,669 shares of company stock worth $3,424,090 over the last three months. 1.15% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in HBHC. BlackRock Inc. increased its stake in shares of Hancock Holding by 18,052.0% in the first quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock valued at $413,132,000 after buying an additional 9,019,887 shares during the period. Vanguard Group Inc. boosted its position in Hancock Holding by 8.1% in the first quarter. Vanguard Group Inc. now owns 7,229,758 shares of the financial services provider’s stock valued at $329,316,000 after buying an additional 544,041 shares in the last quarter. State Street Corp boosted its position in Hancock Holding by 27.6% in the first quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock valued at $232,799,000 after buying an additional 1,103,976 shares in the last quarter. Macquarie Group Ltd. boosted its position in Hancock Holding by 2.2% in the first quarter. Macquarie Group Ltd. now owns 2,483,043 shares of the financial services provider’s stock valued at $113,103,000 after buying an additional 53,383 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Hancock Holding by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 1,532,140 shares of the financial services provider’s stock valued at $69,789,000 after buying an additional 450,787 shares in the last quarter. 77.92% of the stock is currently owned by institutional investors.
About Hancock Holding
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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