BidaskClub upgraded shares of Hancock (NASDAQ:HBHC) from a hold rating to a buy rating in a research note released on Wednesday, March 14th.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Hancock from a strong-buy rating to a hold rating in a report on Tuesday, February 27th. Keefe, Bruyette & Woods reissued a buy rating and issued a $62.00 price objective on shares of Hancock in a research note on Friday, January 19th. SunTrust Banks reissued a hold rating and issued a $59.00 price objective on shares of Hancock in a research note on Friday, January 19th. Sandler O’Neill reaffirmed a buy rating and set a $61.00 price target on shares of Hancock in a research note on Friday, January 19th. Finally, Hovde Group raised shares of Hancock from a market perform rating to an outperform rating and set a $58.00 price target for the company in a research note on Wednesday, December 27th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $57.86.
Shares of HBHC stock traded down $1.70 on Wednesday, hitting $50.95. 579,117 shares of the stock traded hands, compared to its average volume of 558,983. The company has a market capitalization of $4,568.85, a price-to-earnings ratio of 17.45, a PEG ratio of 1.72 and a beta of 1.01. Hancock has a 52 week low of $41.05 and a 52 week high of $56.40. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.
Hancock (NASDAQ:HBHC) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The firm had revenue of $277.74 million for the quarter, compared to the consensus estimate of $282.68 million. Hancock had a net margin of 18.46% and a return on equity of 8.96%. During the same period last year, the firm earned $0.64 EPS. equities research analysts expect that Hancock will post 3.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were issued a $0.24 dividend. The ex-dividend date was Friday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 1.88%. Hancock’s dividend payout ratio is currently 32.88%.
In other Hancock news, Director Frank E. Bertucci sold 3,031 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $55.00, for a total transaction of $166,705.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Stephen E. Barker sold 3,572 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $55.70, for a total transaction of $198,960.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,833 shares of company stock valued at $2,613,063. Company insiders own 1.15% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Hancock by 2.5% during the 4th quarter. BlackRock Inc. now owns 9,162,787 shares of the financial services provider’s stock worth $453,560,000 after purchasing an additional 223,920 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Hancock by 22.2% in the 4th quarter. Millennium Management LLC now owns 2,793,185 shares of the financial services provider’s stock valued at $138,263,000 after acquiring an additional 507,259 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Hancock by 6.6% in the 3rd quarter. Macquarie Group Ltd. now owns 2,712,351 shares of the financial services provider’s stock valued at $131,414,000 after acquiring an additional 166,902 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Hancock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,622,960 shares of the financial services provider’s stock valued at $78,633,000 after acquiring an additional 16,814 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Hancock by 5.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,360,353 shares of the financial services provider’s stock valued at $65,909,000 after acquiring an additional 66,884 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.
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Hancock Holding Company operates as the bank holding company for Whitney Bank that provides a range of community banking services to commercial, small business, and retail customers. The company offers various deposit products, including noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.
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