BidaskClub Lowers Hancock (HBHC) to Hold
BidaskClub lowered shares of Hancock (NASDAQ:HBHC) from a buy rating to a hold rating in a report released on Tuesday morning.
HBHC has been the subject of several other research reports. SunTrust Banks reiterated a hold rating and issued a $50.00 price objective on shares of Hancock in a research report on Wednesday, October 4th. Zacks Investment Research downgraded Hancock from a hold rating to a sell rating in a research report on Tuesday, September 19th. Piper Jaffray Companies set a $52.00 target price on Hancock and gave the company a buy rating in a research note on Thursday, August 24th. ValuEngine cut Hancock from a buy rating to a hold rating in a research note on Friday, November 17th. Finally, Jefferies Group reissued a hold rating and issued a $52.00 target price on shares of Hancock in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $52.25.
Shares of Hancock (NASDAQ HBHC) traded down $0.90 on Tuesday, reaching $48.65. The company’s stock had a trading volume of 484,500 shares, compared to its average volume of 590,022. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12. Hancock has a 52-week low of $40.95 and a 52-week high of $53.35. The company has a market cap of $4,220.71, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.91.
Hancock (NASDAQ:HBHC) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Hancock had a return on equity of 8.27% and a net margin of 19.08%. The firm had revenue of $269.97 million during the quarter, compared to the consensus estimate of $279.80 million. During the same quarter in the previous year, the company posted $0.59 EPS. sell-side analysts forecast that Hancock will post 2.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be paid a $0.24 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.97%. Hancock’s dividend payout ratio (DPR) is currently 38.55%.
In other news, insider Samuel B. Kendricks sold 2,982 shares of Hancock stock in a transaction on Monday, November 20th. The stock was sold at an average price of $48.62, for a total value of $144,984.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its stake in shares of Hancock by 1,071.2% during the third quarter. Public Employees Retirement System of Ohio now owns 41,085 shares of the financial services provider’s stock worth $1,991,000 after purchasing an additional 37,577 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Hancock during the third quarter worth $304,000. Jane Street Group LLC acquired a new stake in shares of Hancock during the third quarter worth $779,000. Jacobs Asset Management LLC grew its stake in shares of Hancock by 6.8% during the third quarter. Jacobs Asset Management LLC now owns 394,725 shares of the financial services provider’s stock worth $19,125,000 after purchasing an additional 25,000 shares during the period. Finally, Maltese Capital Management LLC acquired a new stake in shares of Hancock during the third quarter worth $3,280,000. 77.23% of the stock is owned by institutional investors and hedge funds.
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Hancock Company Profile
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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