Bank of New York Mellon Corp cut its position in Hancock Holding (NASDAQ:HBHC) by 45.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,078,332 shares of the financial services provider’s stock after selling 886,732 shares during the period. Bank of New York Mellon Corp owned approximately 1.27% of Hancock worth $52,245,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Hancock by 4.1% in the second quarter. Vanguard Group Inc. now owns 7,524,104 shares of the financial services provider’s stock worth $368,682,000 after buying an additional 294,346 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Hancock by 2.5% in the second quarter. Macquarie Group Ltd. now owns 2,545,449 shares of the financial services provider’s stock worth $124,727,000 after buying an additional 62,406 shares during the last quarter. Northern Trust Corp raised its holdings in Hancock by 22.3% in the second quarter. Northern Trust Corp now owns 1,659,620 shares of the financial services provider’s stock worth $81,321,000 after buying an additional 302,101 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Hancock by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 1,606,146 shares of the financial services provider’s stock worth $78,702,000 after buying an additional 74,006 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Hancock by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 1,293,469 shares of the financial services provider’s stock worth $63,381,000 after buying an additional 115,937 shares during the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Hancock from a “market perform” rating to an “outperform” rating and set a $50.00 price objective 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 set a $50.00 price objective on shares of Hancock in a report on Wednesday, October 4th. Piper Jaffray Companies set a $52.00 price objective on shares of Hancock and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Jefferies Group reissued a “hold” rating and set a $52.00 price objective on shares of Hancock in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Hancock has an average rating of “Hold” and an average price target of $52.25.
Hancock Holding (HBHC) opened at $51.40 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12. Hancock Holding has a twelve month low of $40.95 and a twelve month high of $53.35. The firm has a market cap of $4,378.29, a P/E ratio of 18.97, a PEG ratio of 2.35 and a beta of 0.91.
Hancock (NASDAQ:HBHC) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $269.97 million during the quarter, compared to analyst estimates of $279.80 million. Hancock had a net margin of 19.08% and a return on equity of 8.27%. During the same period in the previous year, the business posted $0.59 earnings per share. analysts anticipate that Hancock Holding will post 2.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.96 annualized dividend and a yield of 1.87%. Hancock’s dividend payout ratio (DPR) is 38.55%.
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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