SunTrust Banks Reaffirms Hold Rating for Hancock (NASDAQ:HBHC)

Hancock (NASDAQ:HBHC)‘s stock had its “hold” rating reaffirmed by equities research analysts at SunTrust Banks in a report released on Tuesday, January 9th. They currently have a $57.00 target price on the financial services provider’s stock. SunTrust Banks’ target price indicates a potential upside of 4.88% from the stock’s previous close. SunTrust Banks also issued estimates for Hancock’s Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $0.93 EPS, Q3 2018 earnings at $0.96 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.68 EPS and FY2019 earnings at $4.08 EPS.

Other equities analysts have also recently issued reports about the company. Sandler O’Neill raised Hancock from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. BidaskClub cut Hancock from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Hovde Group raised Hancock from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, December 27th. Zacks Investment Research raised Hancock from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, December 19th. Finally, ValuEngine cut Hancock from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.56.

Shares of Hancock (HBHC) traded down $0.45 on Tuesday, hitting $54.35. The stock had a trading volume of 606,029 shares, compared to its average volume of 600,771. The company has a market cap of $4,574.21 and a P/E ratio of 21.83. Hancock has a 12-month low of $41.05 and a 12-month high of $56.20. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.11.

Hancock (NASDAQ:HBHC) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $277.74 million during the quarter, compared to the consensus estimate of $282.68 million. Hancock had a return on equity of 8.96% and a net margin of 18.46%. During the same quarter in the previous year, the company posted $0.64 EPS. equities research analysts expect that Hancock will post 3.81 EPS for the current year.

In related news, Director Frank E. Bertucci sold 3,031 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $55.00, for a total value of $166,705.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sonya C. Little sold 600 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.85, for a total value of $32,910.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,613 shares of company stock worth $344,600. 1.15% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in HBHC. Cerebellum GP LLC bought a new position in shares of Hancock during the fourth quarter valued at $125,000. PNC Financial Services Group Inc. lifted its holdings in shares of Hancock by 25.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 581 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 in the last quarter. Sabal Trust CO bought a new position in shares of Hancock during the third quarter valued at $216,000. Finally, Adviser Investments LLC bought a new position in shares of Hancock during the third quarter valued at $224,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Hancock (NASDAQ:HBHC)

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