Hancock (NASDAQ:HBHC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, December 29th.
HBHC has been the subject of several other reports. Zacks Investment Research raised shares of 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 reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Hancock in a research report on Wednesday, October 4th. Hovde Group raised shares of Hancock from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Wednesday, December 27th. Jefferies Group reiterated a “hold” rating and issued a $52.00 price target on shares of Hancock in a report on Thursday, October 12th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $52.00 price target on shares of Hancock in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $53.23.
Shares of Hancock (NASDAQ HBHC) opened at $53.75 on Friday. The firm has a market cap of $4,591.25, a PE ratio of 21.59, a P/E/G ratio of 1.82 and a beta of 0.91. Hancock has a one year low of $41.05 and a one year high of $54.55. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.12.
Hancock (NASDAQ:HBHC) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The business 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 prior year, the firm posted $0.59 earnings per share. analysts anticipate that Hancock will post 2.74 EPS for the current year.
In related news, insider Samuel B. Kendricks sold 2,982 shares of Hancock stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.62, for a total value of $144,984.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.15% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in HBHC. JPMorgan Chase & Co. lifted its holdings in Hancock by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,606,146 shares of the financial services provider’s stock valued at $78,702,000 after purchasing an additional 74,006 shares in the last quarter. Sei Investments Co. lifted its holdings in Hancock by 21.8% in the 2nd 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. Federated Investors Inc. PA lifted its holdings in Hancock by 6.2% in the 2nd quarter. Federated Investors Inc. PA now owns 126,899 shares of the financial services provider’s stock valued at $6,218,000 after purchasing an additional 7,370 shares in the last quarter. Legal & General Group Plc lifted its holdings in Hancock by 11.8% in the 2nd 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. Finally, Principal Financial Group Inc. lifted its holdings in Hancock by 4.6% in the 2nd quarter. Principal Financial Group Inc. now owns 361,366 shares of the financial services provider’s stock valued at $17,706,000 after purchasing an additional 15,886 shares in the last quarter. 77.21% of the stock is currently owned by hedge funds and other institutional investors.
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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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