Hancock (HBHC) Sets New 1-Year High After Earnings Beat

Hancock Holding (NASDAQ:HBHC)’s share price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $55.45 and last traded at $54.45, with a volume of 651200 shares changing hands. The stock had previously closed at $53.55.

The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $277.74 million during the quarter, compared to analysts’ expectations of $282.68 million. Hancock had a net margin of 19.08% and a return on equity of 8.27%. During the same period last year, the firm posted $0.64 earnings per share.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Hancock from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, December 19th. BidaskClub cut shares of Hancock from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Hovde Group upgraded shares of Hancock from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a report on Wednesday, December 27th. SunTrust Banks restated a “hold” rating and set a $50.00 target price on shares of Hancock in a report on Wednesday, October 4th. Finally, Sandler O’Neill upgraded shares of Hancock from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Hancock presently has a consensus rating of “Buy” and a consensus target price of $53.23.

In related news, insider Samuel B. Kendricks sold 2,982 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.62, for a total transaction of $144,984.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.15% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in Hancock by 25.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 581 shares during the period. Sabal Trust CO acquired a new position in Hancock in the 3rd quarter worth approximately $216,000. Adviser Investments LLC acquired a new position in Hancock in the 3rd quarter worth approximately $224,000. Quantbot Technologies LP boosted its stake in Hancock by 82.0% in the 2nd quarter. Quantbot Technologies LP now owns 4,745 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 2,138 shares during the period. Finally, AE Wealth Management LLC acquired a new position in Hancock in the 3rd quarter worth approximately $278,000. 77.21% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $4,561.43, a P/E ratio of 21.87, a P/E/G ratio of 1.81 and a beta of 0.91.

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About Hancock

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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