Hancock Holding Co. Reduces Position in Hancock Holding Company (HBHC)
Hancock Holding Co. cut its position in shares of Hancock Holding Company (NASDAQ:HBHC) by 12.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,205,604 shares of the financial services provider’s stock after selling 177,310 shares during the quarter. Hancock Holding comprises 2.5% of Hancock Holding Co.’s investment portfolio, making the stock its biggest holding. Hancock Holding Co. owned approximately 1.42% of Hancock Holding worth $59,074,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBHC. Bank of Montreal Can boosted its position in shares of Hancock Holding by 7.7% during the first quarter. Bank of Montreal Can now owns 7,662 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 545 shares in the last quarter. Strs Ohio boosted its position in shares of Hancock Holding by 21.8% during the first quarter. Strs Ohio now owns 12,300 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 2,200 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Hancock Holding by 5.9% during the first quarter. Great West Life Assurance Co. Can now owns 49,445 shares of the financial services provider’s stock valued at $2,246,000 after purchasing an additional 2,742 shares in the last quarter. Swiss National Bank boosted its position in shares of Hancock Holding by 0.8% during the first quarter. Swiss National Bank now owns 137,600 shares of the financial services provider’s stock valued at $6,268,000 after purchasing an additional 1,100 shares in the last quarter. Finally, World Asset Management Inc boosted its position in shares of Hancock Holding by 8.9% during the first quarter. World Asset Management Inc now owns 5,223 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 76.98% of the company’s stock.
Several equities research analysts recently weighed in on HBHC shares. BidaskClub lowered Hancock Holding from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Hancock Holding from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, July 18th. ValuEngine upgraded Hancock Holding from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods upgraded Hancock Holding from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday, August 21st. Finally, Jefferies Group LLC restated a “hold” rating and set a $51.00 price target on shares of Hancock Holding in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $52.03.
Hancock Holding Company (NASDAQ:HBHC) traded up 0.55% during midday trading on Friday, reaching $45.95. The company’s stock had a trading volume of 384,816 shares. The firm has a 50 day moving average price of $44.08 and a 200-day moving average price of $46.28. The company has a market cap of $3.89 billion, a P/E ratio of 19.18 and a beta of 0.87. Hancock Holding Company has a 12-month low of $31.16 and a 12-month high of $52.94.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. The business had revenue of $267.20 million for the quarter, compared to the consensus estimate of $265.03 million. During the same period last year, the business posted $0.59 EPS. On average, equities research analysts predict that Hancock Holding Company will post $2.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.09%. Hancock Holding’s dividend payout ratio is presently 40.00%.
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In other news, Director Randall W. Hanna sold 2,300 shares of Hancock Holding stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $43.93, for a total value of $101,039.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John M. Hairston sold 12,240 shares of Hancock Holding stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $46.60, for a total value of $570,384.00. The disclosure for this sale can be found here. Insiders sold a total of 17,909 shares of company stock worth $827,307 over the last quarter. Company insiders own 1.15% of the company’s stock.
Hancock Holding 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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