SunTrust Banks, Inc. Reaffirms Hold Rating for Hancock Holding Company (HBHC)
SunTrust Banks, Inc. reaffirmed their hold rating on shares of Hancock Holding Company (NASDAQ:HBHC) in a research note issued to investors on Wednesday. SunTrust Banks, Inc. currently has a $50.00 price objective on the financial services provider’s stock.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered Hancock Holding from a hold rating to a sell rating in a research note on Tuesday, September 19th. Piper Jaffray Companies set a $52.00 price objective on Hancock Holding and gave the company a buy rating in a research note on Thursday, August 24th. Keefe, Bruyette & Woods raised Hancock Holding from a market perform rating to an outperform rating and set a $50.00 price objective for the company in a research note on Monday, August 21st. BidaskClub lowered Hancock Holding from a hold rating to a sell rating in a research note on Saturday, August 12th. Finally, Jefferies Group LLC reissued a hold rating and set a $51.00 price objective on shares of Hancock Holding in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $51.81.
Hancock Holding (HBHC) traded down 0.21% during midday trading on Wednesday, reaching $48.65. 324,815 shares of the company traded hands. The stock’s 50 day moving average is $45.11 and its 200 day moving average is $46.38. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 20.30 and a beta of 0.88. Hancock Holding has a one year low of $31.73 and a one year high of $52.94.
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, hitting the Thomson Reuters’ consensus estimate of $0.68. The business had revenue of $267.20 million during the quarter, compared to analyst estimates of $265.03 million. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts anticipate that Hancock Holding will post $2.71 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 31st. Hancock Holding’s dividend payout ratio (DPR) is presently 40.00%.
In related news, insider Joseph S. Exnicios sold 3,369 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $46.27, for a total value of $155,883.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John M. Hairston sold 12,240 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was 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. In the last three months, insiders have sold 17,909 shares of company stock valued at $827,307. Insiders own 1.15% of the company’s stock.
A number of hedge funds have recently made changes to their positions in HBHC. PNC Financial Services Group Inc. lifted its stake in Hancock Holding by 72.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 939 shares during the period. Quantbot Technologies LP purchased a new stake in Hancock Holding in the first quarter worth $118,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hancock Holding by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 404 shares during the period. Hayek Kallen Investment Management purchased a new stake in Hancock Holding in the second quarter worth $204,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Hancock Holding in the second quarter worth $216,000. 76.98% of the stock is owned by institutional investors.
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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