Hancock (NASDAQ:HBHC) Upgraded at BidaskClub

BidaskClub upgraded shares of Hancock (NASDAQ:HBHC) from a hold rating to a buy rating in a research note published on Friday, December 22nd.

A number of other research analysts have also issued reports on the company. Zacks Investment Research upgraded Hancock from a hold rating to a buy rating and set a $56.00 price objective for the company in a research report on Tuesday, December 19th. SunTrust Banks reiterated a hold rating and set a $50.00 price target on shares of Hancock in a research report on Wednesday, October 4th. Piper Jaffray Companies reiterated an overweight rating and set a $52.00 price target on shares of Hancock in a research report on Thursday, October 5th. ValuEngine lowered Hancock from a buy rating to a hold rating in a research report on Friday, November 17th. Finally, Jefferies Group reiterated a hold rating and set a $52.00 price target on shares of Hancock in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Hancock currently has a consensus rating of Buy and a consensus target price of $53.23.

Shares of Hancock (HBHC) traded down $0.15 on Friday, hitting $53.75. The stock had a trading volume of 534,856 shares, compared to its average volume of 504,236. The firm has a market cap of $4,591.25, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. 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 has a one year low of $41.05 and a one year high of $54.55.

Hancock (NASDAQ:HBHC) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Hancock had a return on equity of 8.27% and a net margin of 19.08%. The company had revenue of $269.97 million during the quarter, compared to analyst estimates of $279.80 million. During the same quarter last year, the firm earned $0.59 EPS. sell-side analysts forecast that Hancock will post 2.74 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 4th. Hancock’s dividend payout ratio (DPR) is presently 38.55%.

In other news, insider Samuel B. Kendricks sold 2,982 shares of Hancock stock in a transaction on Monday, November 20th. The stock was 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 at this link. Insiders own 1.15% of the company’s stock.

Several hedge funds have recently modified their holdings of HBHC. Strs Ohio grew its stake in Hancock by 2.4% in the second quarter. Strs Ohio now owns 12,600 shares of the financial services provider’s stock valued at $617,000 after purchasing an additional 300 shares in the last quarter. Sei Investments Co. grew its stake in Hancock by 21.8% in the second quarter. Sei Investments Co. now owns 20,948 shares of the financial services provider’s stock valued at $1,026,000 after purchasing an additional 3,747 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Hancock in the second quarter valued at about $216,000. Schwab Charles Investment Management Inc. grew its stake in Hancock by 6.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 524,821 shares of the financial services provider’s stock valued at $25,717,000 after purchasing an additional 32,365 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Hancock by 11.8% in the second quarter. Legal & General Group Plc now owns 100,332 shares of the financial services provider’s stock valued at $4,914,000 after purchasing an additional 10,621 shares in the last quarter. Institutional investors and hedge funds own 77.21% of the company’s stock.

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About Hancock

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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