Hancock Holding Company (NASDAQ:HBHC) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Hancock Holding Company (NASDAQ:HBHC) from a buy rating to a hold rating in a research report sent to investors on Monday, July 24th.

HBHC has been the subject of a number of other research reports. Zacks Investment Research raised shares of Hancock Holding from a hold rating to a buy rating and set a $56.00 target price for the company in a report on Tuesday, July 18th. ValuEngine raised shares of Hancock Holding from a hold rating to a buy rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $47.00 target price on shares of Hancock Holding in a report on Thursday, April 20th. Stephens reissued a hold rating on shares of Hancock Holding in a report on Friday, April 28th. Finally, Jefferies Group LLC reissued a hold rating and issued a $51.00 target price on shares of Hancock Holding in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $49.78.

Hancock Holding (NASDAQ HBHC) opened at 43.45 on Monday. Hancock Holding has a 52 week low of $31.10 and a 52 week high of $52.94. The firm has a 50 day moving average of $46.94 and a 200-day moving average of $46.74. The company has a market capitalization of $3.68 billion, a P/E ratio of 18.13 and a beta of 0.85.

Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $267.20 million during the quarter, compared to analysts’ expectations of $265.03 million. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, analysts forecast that Hancock Holding will post $2.71 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be issued a $0.24 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.96 dividend on an annualized basis and a yield of 2.21%. Hancock Holding’s dividend payout ratio (DPR) is presently 40.00%.

In related news, CEO John M. Hairston sold 12,240 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $46.60, for a total value of $570,384.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Randall W. Hanna sold 2,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $43.93, for a total transaction of $101,039.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,262 shares of company stock valued at $1,844,274. 1.15% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position 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 valued at $101,000 after buying an additional 939 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Hancock Holding by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,272 shares of the financial services provider’s stock valued at $103,000 after buying an additional 16 shares during the last quarter. Quantbot Technologies LP purchased a new position in Hancock Holding during the first quarter valued at about $118,000. Tyers Asset Management LLC raised its position in Hancock Holding by 0.7% in the first quarter. Tyers Asset Management LLC now owns 3,124 shares of the financial services provider’s stock valued at $142,000 after buying an additional 22 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 valued at $159,000 after buying an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.

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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