Schwab Charles Investment Management Inc. boosted its stake in shares of Hancock Holding (NASDAQ:HBHC) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 567,792 shares of the financial services provider’s stock after acquiring an additional 42,971 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.67% of Hancock worth $27,510,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of Hancock by 25.9% in the 2nd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hancock by 14.2% in the 2nd 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 last quarter. Hayek Kallen Investment Management bought a new position in shares of Hancock in the 2nd quarter valued at about $204,000. Canada Pension Plan Investment Board bought a new position in shares of Hancock in the 2nd quarter valued at about $216,000. Finally, Sabal Trust CO bought a new position in shares of Hancock in the 3rd quarter valued at about $216,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hancock Holding (NASDAQ HBHC) opened at $49.70 on Wednesday. The firm has a market cap of $4,190.90, a P/E ratio of 18.16, a P/E/G ratio of 2.25 and a beta of 0.91. 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.
Hancock (NASDAQ:HBHC) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $269.97 million for the quarter, compared to the consensus estimate of $279.80 million. Hancock had a net margin of 19.08% and a return on equity of 8.27%. During the same period last year, the company posted $0.59 EPS. research analysts predict that Hancock Holding will post 2.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be given a $0.24 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.93%. Hancock’s dividend payout ratio is 38.55%.
Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Hancock from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, August 21st. Zacks Investment Research downgraded shares of Hancock from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. SunTrust Banks reiterated a “hold” rating and issued a $50.00 price target on shares of Hancock in a research report on Wednesday, October 4th. Jefferies Group reiterated a “hold” rating and issued a $52.00 price target on shares of Hancock in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies set a $52.00 price target on shares of Hancock and gave the company a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Hancock currently has a consensus rating of “Hold” and a consensus price target of $52.25.
In other Hancock news, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.15% of the company’s stock.
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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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