Hancock (NASDAQ:HBHC) had its target price lowered by stock analysts at SunTrust Banks to $54.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ target price would suggest a potential upside of 11.34% from the company’s current price.
A number of other brokerages have also weighed in on HBHC. BidaskClub lowered Hancock from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Sandler O’Neill restated a “buy” rating and issued a $61.00 target price on shares of Hancock in a research note on Friday, January 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 target price on shares of Hancock in a research note on Friday, January 19th. ValuEngine upgraded Hancock from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Finally, Zacks Investment Research upgraded Hancock from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, March 20th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.86.
NASDAQ:HBHC opened at $48.50 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Hancock has a 52-week low of $41.05 and a 52-week high of $56.40. The firm has a market cap of $4,469.90, a P/E ratio of 16.61, a P/E/G ratio of 1.68 and a beta of 1.01.
Hancock (NASDAQ:HBHC) last released its quarterly earnings data on Tuesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. Hancock had a return on equity of 9.74% and a net margin of 19.76%. The company had revenue of $271.92 million for the quarter, compared to analyst estimates of $281.70 million. During the same period in the previous year, the company posted $0.57 EPS. research analysts forecast that Hancock will post 3.83 earnings per share for the current year.
In related news, Director Frank E. Bertucci sold 3,031 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $55.00, for a total transaction of $166,705.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sonya C. Little sold 600 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.85, for a total value of $32,910.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,833 shares of company stock worth $2,613,063 over the last quarter. Corporate insiders own 1.15% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new stake in Hancock during the 4th quarter valued at about $385,000. MetLife Investment Advisors LLC purchased a new stake in Hancock during the 4th quarter valued at about $4,531,000. Jump Trading LLC purchased a new stake in Hancock during the 4th quarter valued at about $477,000. Verition Fund Management LLC boosted its holdings in Hancock by 100.3% during the 4th quarter. Verition Fund Management LLC now owns 13,943 shares of the financial services provider’s stock valued at $690,000 after acquiring an additional 6,983 shares during the period. Finally, Zeke Capital Advisors LLC purchased a new stake in Hancock during the 4th quarter valued at about $259,000. Institutional investors own 76.64% of the company’s stock.
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Hancock Company Profile
Hancock Holding Company operates as the bank holding company for Whitney Bank that provides a range of community banking services to commercial, small business, and retail customers. The company offers various deposit products, including noninterest-bearing demand deposits, interest-bearing transaction accounts, savings accounts, money market deposit accounts, and time deposit accounts.
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