Keefe, Bruyette & Woods reiterated their market perform rating on shares of Hancock Holding Co. (NASDAQ:HBHC) in a research note published on Wednesday.
A number of other research firms have also recently issued reports on HBHC. Zacks Investment Research cut Hancock Holding from a buy rating to a hold rating in a research report on Monday, September 26th. SunTrust Banks Inc. cut Hancock Holding from a buy rating to a neutral rating and set a $34.00 price target for the company. in a report on Monday, September 19th. Piper Jaffray Cos. reissued a neutral rating and set a $29.00 price target (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th. Hovde Group lifted their price target on Hancock Holding from $27.00 to $32.00 and gave the stock a market perform rating in a report on Tuesday, July 26th. Finally, Bank of America Corp. raised Hancock Holding from an underperform rating to a neutral rating in a report on Friday, July 22nd. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Hancock Holding presently has a consensus rating of Hold and an average target price of $29.57.
Hancock Holding (NASDAQ:HBHC) traded down 3.668% during mid-day trading on Wednesday, hitting $31.905. The stock had a trading volume of 196,516 shares. Hancock Holding has a one year low of $20.01 and a one year high of $33.39. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 23.668 and a beta of 0.87. The stock’s 50 day moving average price is $32.20 and its 200 day moving average price is $27.98.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.14. Hancock Holding had a return on equity of 4.53% and a net margin of 11.20%. The company earned $229 million during the quarter, compared to analysts’ expectations of $229.18 million. During the same period last year, the firm posted $0.51 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that Hancock Holding will post $1.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.90%. Hancock Holding’s dividend payout ratio (DPR) is presently 71.11%.
In other news, EVP Stephen E. Barker sold 2,550 shares of Hancock Holding stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $29.45, for a total value of $75,097.50. Following the transaction, the executive vice president now owns 9,966 shares in the company, valued at approximately $293,498.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider George A. Schloegel purchased 4,633 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was acquired at an average price of $28.64 per share, for a total transaction of $132,689.12. Following the purchase, the insider now owns 257,351 shares in the company, valued at approximately $7,370,532.64. The disclosure for this purchase can be found here. Company insiders own 1.45% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Fox Run Management L.L.C. acquired a new position in shares of Hancock Holding during the third quarter valued at about $347,000. Hilton Capital Management LLC acquired a new position in shares of Hancock Holding during the third quarter valued at about $242,000. Oregon Public Employees Retirement Fund raised its position in shares of Hancock Holding by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 26,573 shares of the financial services provider’s stock valued at $862,000 after buying an additional 534 shares during the last quarter. Foundry Partners LLC raised its position in shares of Hancock Holding by 3.1% in the third quarter. Foundry Partners LLC now owns 424,852 shares of the financial services provider’s stock valued at $13,778,000 after buying an additional 12,813 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Hancock Holding by 2.0% in the second quarter. Macquarie Group Ltd. now owns 2,513,013 shares of the financial services provider’s stock valued at $65,615,000 after buying an additional 48,707 shares during the last quarter. Institutional investors own 81.16% of the company’s stock.
Hancock Holding Company Profile