Hancock Holding Co. (HBHC) Sets New 12-Month High at $31.05
Hancock Holding Co. (NASDAQ:HBHC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.05 and last traded at $30.96, with a volume of 346,945 shares traded. The stock had previously closed at $30.72.
A number of equities research analysts have issued reports on HBHC shares. Raymond James Financial Inc. raised shares of Hancock Holding from a “market perform” rating to an “outperform” rating in a research report on Monday, May 9th. Zacks Investment Research raised shares of Hancock Holding from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 21st. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $29.00 price objective (up from $27.50) on shares of Hancock Holding in a research report on Sunday, July 24th. Hovde Group upped their price objective on shares of Hancock Holding from $24.00 to $27.00 and gave the stock a “market perform” rating in a research report on Thursday, April 21st. Finally, TheStreet raised shares of Hancock Holding from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.57.
The company’s 50 day moving average price is $28.06 and its 200 day moving average price is $25.62. The firm has a market cap of $2.40 billion and a P/E ratio of 22.9766.
Hancock Holding (NASDAQ:HBHC) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.14. During the same period last year, the business earned $0.51 earnings per share. The business had revenue of $229 million for the quarter, compared to analysts’ expectations of $229.18 million. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Hancock Holding Co. will post $1.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Tuesday, September 6th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.13%.
In other Hancock Holding news, EVP Stephen E. Barker sold 2,550 shares of Hancock Holding stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value of $75,097.50. Following the completion of the transaction, the executive vice president now directly owns 9,966 shares of the company’s stock, valued at $293,498.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider George A. Schloegel bought 4,633 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was purchased at an average cost of $28.64 per share, with a total value of $132,689.12. Following the completion of the acquisition, the insider now directly owns 257,351 shares of the company’s stock, valued at approximately $7,370,532.64. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Hancock Holding by 24.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,779,102 shares of the financial services provider’s stock valued at $95,121,000 after buying an additional 750,934 shares during the period. Victory Capital Management Inc. boosted its position in shares of Hancock Holding by 27,760.2% in the fourth quarter. Victory Capital Management Inc. now owns 807,109 shares of the financial services provider’s stock valued at $20,314,000 after buying an additional 804,212 shares during the period. Bank of Montreal Can boosted its position in shares of Hancock Holding by 753.4% in the fourth quarter. Bank of Montreal Can now owns 112,698 shares of the financial services provider’s stock valued at $2,836,000 after buying an additional 99,493 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Hancock Holding by 2.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 53,432 shares of the financial services provider’s stock valued at $1,345,000 after buying an additional 1,343 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Hancock Holding during the fourth quarter valued at about $1,093,000.
Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The Company operates through overall banking operations segment. Whitney Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas.
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