Verition Fund Management LLC boosted its holdings in Hancock Holding (NASDAQ:HBHC) by 100.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,943 shares of the financial services provider’s stock after buying an additional 6,983 shares during the period. Verition Fund Management LLC’s holdings in Hancock were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in Hancock in the 4th quarter valued at approximately $125,000. Signition LP purchased a new position in Hancock in the 4th quarter valued at approximately $224,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hancock by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,874 shares of the financial services provider’s stock valued at $241,000 after buying an additional 1,626 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Hancock during the 4th quarter valued at $252,000. Finally, JOYN Advisors Inc. purchased a new position in shares of Hancock during the 4th quarter valued at $252,000. Institutional investors and hedge funds own 77.41% of the company’s stock.
HBHC stock opened at $54.60 on Wednesday. Hancock Holding has a 1 year low of $41.05 and a 1 year high of $56.40. The stock has a market cap of $4,676.13, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, March 2nd. Hancock’s dividend payout ratio is presently 38.55%.
A number of research firms have recently commented on HBHC. Zacks Investment Research upgraded shares of Hancock from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Tuesday. BidaskClub upgraded shares of Hancock from a “hold” rating to a “buy” rating in a research report on Wednesday, March 14th. Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 price target on shares of Hancock in a research report on Friday, January 19th. SunTrust Banks restated a “hold” rating and set a $59.00 price target on shares of Hancock in a research report on Friday, January 19th. Finally, Sandler O’Neill restated a “buy” rating and set a $61.00 price target on shares of Hancock in a research report on Friday, January 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Hancock has a consensus rating of “Buy” and a consensus price target of $57.86.
In other Hancock news, Director Sonya C. Little sold 600 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.85, for a total value of $32,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen E. Barker sold 3,572 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $55.70, for a total transaction of $198,960.40. The disclosure for this sale can be found here. Insiders sold 47,833 shares of company stock valued at $2,613,063 over the last three months. 1.15% of the stock is currently owned by insiders.
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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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