Hancock Holding Company (HBHC) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan decreased its stake in shares of Hancock Holding Company (NASDAQ:HBHC) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,630 shares of the financial services provider’s stock after selling 6,990 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Hancock Holding were worth $1,242,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of HBHC. PNC Financial Services Group Inc. increased its holdings in Hancock Holding by 72.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the financial services provider’s stock valued at $101,000 after buying an additional 939 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hancock Holding by 14.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock valued at $159,000 after buying an additional 404 shares during the last quarter. Hayek Kallen Investment Management purchased a new stake in Hancock Holding during the second quarter valued at approximately $204,000. Canada Pension Plan Investment Board purchased a new stake in Hancock Holding during the second quarter valued at approximately $216,000. Finally, Sabal Trust CO purchased a new stake in Hancock Holding during the third quarter valued at approximately $216,000. Institutional investors own 75.35% of the company’s stock.
A number of brokerages have commented on HBHC. ValuEngine cut shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price objective on shares of Hancock Holding in a research note on Thursday, October 12th. Zacks Investment Research cut shares of Hancock Holding from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Piper Jaffray Companies reissued an “overweight” rating and issued a $52.00 price objective on shares of Hancock Holding in a research note on Thursday, October 5th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $50.00 price objective on shares of Hancock Holding in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Hancock Holding currently has a consensus rating of “Hold” and a consensus target price of $51.92.
In related news, insider Cecil W. Knight, Jr. bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average cost of $41.40 per share, with a total value of $82,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.15% of the company’s stock.
Hancock Holding Company (HBHC) opened at $49.20 on Tuesday. The firm has a market cap of $4,135.53, a price-to-earnings ratio of 17.92, a P/E/G ratio of 2.22 and a beta of 0.90. Hancock Holding Company has a 52 week low of $39.75 and a 52 week high of $52.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.82 and a current ratio of 0.82.
Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The company had revenue of $269.97 million during the quarter, compared to analysts’ expectations of $279.80 million. Hancock Holding had a net margin of 19.08% and a return on equity of 8.27%. During the same period last year, the company posted $0.59 earnings per share. equities analysts predict that Hancock Holding Company will post 2.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.96 annualized dividend and a yield of 1.95%. Hancock Holding’s payout ratio is 38.55%.
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.
Want to see what other hedge funds are holding HBHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hancock Holding Company (NASDAQ:HBHC).
Receive News & Ratings for Hancock Holding Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hancock Holding Company and related companies with Analyst Ratings Network's FREE daily email newsletter.