Canada Pension Plan Investment Board grew its stake in Hancock Holding (NASDAQ:HBHC) by 647.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,900 shares of the financial services provider’s stock after acquiring an additional 28,500 shares during the period. Canada Pension Plan Investment Board’s holdings in Hancock were worth $1,594,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Hancock 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 purchasing an additional 939 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Hancock 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 purchasing an additional 404 shares during the period. Hayek Kallen Investment Management acquired a new position in Hancock during the second quarter valued at approximately $204,000. Sabal Trust CO acquired a new position in Hancock during the third quarter valued at approximately $216,000. Finally, Adviser Investments LLC acquired a new position in shares of Hancock in the third quarter valued at approximately $224,000. 77.23% of the stock is owned by institutional investors.
Several research firms have recently weighed in on HBHC. Keefe, Bruyette & Woods upgraded shares of Hancock from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, August 21st. Zacks Investment Research cut shares of Hancock from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. SunTrust Banks reissued a “hold” rating and issued a $50.00 price objective on shares of Hancock in a research report on Wednesday, October 4th. BidaskClub lowered shares of Hancock from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Jefferies Group reissued a “hold” rating and issued a $52.00 price objective on shares of Hancock in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Hancock has an average rating of “Hold” and a consensus price target of $52.25.
In other news, insider Cecil W. Knight, Jr. acquired 2,000 shares of Hancock stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $41.40 per share, for a total transaction of $82,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samuel B. Kendricks sold 2,982 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.62, for a total transaction of $144,984.84. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
Shares of Hancock Holding (NASDAQ:HBHC) traded down $0.25 on Monday, hitting $51.15. 679,154 shares of the stock traded hands, compared to its average volume of 593,467. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.82 and a quick ratio of 0.82. Hancock Holding has a 52 week low of $40.95 and a 52 week high of $53.35. The company has a market capitalization of $4,378.29, a price-to-earnings ratio of 18.97, a PEG ratio of 2.35 and a beta of 0.91.
Hancock (NASDAQ:HBHC) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Hancock had a net margin of 19.08% and a return on equity of 8.27%. The business had revenue of $269.97 million for the quarter, compared to the consensus estimate of $279.80 million. During the same period in the prior year, the company posted $0.59 earnings per share. sell-side analysts expect that Hancock Holding will post 2.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.88%. Hancock’s payout ratio is 38.55%.
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Hancock 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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