Hancock Holding Company (HBHC) Given Overweight Rating at Piper Jaffray Companies
Piper Jaffray Companies reiterated their overweight rating on shares of Hancock Holding Company (NASDAQ:HBHC) in a report issued on Thursday. Piper Jaffray Companies currently has a $52.00 price target on the financial services provider’s stock.
HBHC has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Hancock Holding from a hold rating to a sell rating in a research note on Tuesday, September 19th. SunTrust Banks, Inc. reiterated a hold rating and set a $50.00 price objective on shares of Hancock Holding in a research note on Wednesday. Keefe, Bruyette & Woods set a $50.00 price objective on shares of Hancock Holding and gave the stock a hold rating in a research note on Friday, August 11th. BidaskClub lowered shares of Hancock Holding from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reiterated a hold rating and set a $51.00 price objective on shares of Hancock Holding in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $51.81.
Hancock Holding (NASDAQ HBHC) traded down 0.21% during mid-day trading on Thursday, reaching $48.65. The company’s stock had a trading volume of 324,815 shares. The stock has a market capitalization of $4.12 billion, a P/E ratio of 20.30 and a beta of 0.88. Hancock Holding has a 1-year low of $31.73 and a 1-year high of $52.94. The stock’s 50 day moving average price is $44.95 and its 200 day moving average price is $46.36.
Hancock Holding (NASDAQ:HBHC) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $267.20 million for the quarter, compared to analyst estimates of $265.03 million. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. During the same quarter in the prior year, the business posted $0.59 EPS. Analysts expect that Hancock Holding will post $2.71 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, August 31st. Hancock Holding’s dividend payout ratio (DPR) is 40.00%.
In related news, insider Cecil W. Knight, Jr. acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $41.40 per share, for a total transaction of $82,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John M. Hairston sold 12,240 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $46.60, for a total transaction of $570,384.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,909 shares of company stock valued at $827,307. 1.15% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of HBHC. BlackRock Inc. boosted its holdings in shares of Hancock Holding by 18,052.0% in the first quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock valued at $413,132,000 after acquiring an additional 9,019,887 shares in the last quarter. State Street Corp boosted its holdings in shares of Hancock Holding by 27.6% in the first quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock valued at $232,799,000 after acquiring an additional 1,103,976 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Hancock Holding in the second quarter valued at approximately $29,145,000. Vanguard Group Inc. boosted its holdings in shares of Hancock Holding by 8.1% in the first quarter. Vanguard Group Inc. now owns 7,229,758 shares of the financial services provider’s stock valued at $329,316,000 after acquiring an additional 544,041 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Hancock Holding by 79.2% in the second quarter. Citadel Advisors LLC now owns 1,204,824 shares of the financial services provider’s stock valued at $59,037,000 after acquiring an additional 532,320 shares in the last quarter. Institutional investors and hedge funds own 76.98% 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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