Hancock (HBHC) Earns “Hold” Rating from SunTrust Banks
SunTrust Banks reissued their hold rating on shares of Hancock (NASDAQ:HBHC) in a research report report published on Wednesday morning. The firm currently has a $53.00 price objective on the financial services provider’s stock.
A number of other analysts have also recently weighed in on the stock. ValuEngine cut shares of Hancock from a buy rating to a hold rating in a research note on Friday, November 17th. Jefferies Group reiterated a hold rating and set a $52.00 price target on shares of Hancock in a research note on Thursday, October 12th. Zacks Investment Research cut shares of Hancock from a hold rating to a sell rating in a research note on Friday, October 6th. Piper Jaffray Companies reiterated an overweight rating and set a $52.00 price target on shares of Hancock in a research note on Thursday, October 5th. Finally, Keefe, Bruyette & Woods upgraded shares of Hancock from a market perform rating to an outperform rating and set a $50.00 price target for the company in a research note on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $52.25.
Hancock (NASDAQ:HBHC) opened at $51.40 on Wednesday. Hancock has a twelve month low of $40.95 and a twelve month high of $53.35. 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 stock has a market cap of $4,374.03, a price-to-earnings ratio of 18.95, a PEG ratio of 2.35 and a beta of 0.91.
Hancock (NASDAQ:HBHC) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Hancock had a net margin of 19.08% and a return on equity of 8.27%. The business had revenue of $269.97 million during the quarter, compared to analysts’ expectations of $279.80 million. During the same quarter in the prior year, the business posted $0.59 EPS. sell-side analysts expect that Hancock will post 2.74 earnings per share for the current 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. This represents a $0.96 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 4th. Hancock’s dividend payout ratio (DPR) is presently 38.55%.
In other news, insider Samuel B. Kendricks sold 2,982 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.62, for a total value of $144,984.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cecil W. Knight, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average price of $41.40 per share, with a total value of $82,800.00. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Hancock by 25.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 581 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hancock by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 404 shares in the last quarter. Hayek Kallen Investment Management purchased a new position in Hancock during the 2nd quarter valued at about $204,000. Canada Pension Plan Investment Board purchased a new position in Hancock during the 2nd quarter valued at about $216,000. Finally, Sabal Trust CO purchased a new position in Hancock during the 3rd quarter valued at about $216,000. Institutional investors and hedge funds own 77.19% of the company’s stock.
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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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