Hancock Holding Co. (HBHC) Reaches New 1-Year High at $32.28
Shares of Hancock Holding Co. (NASDAQ:HBHC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.28 and last traded at $32.28, with a volume of 259,310 shares trading hands. The stock had previously closed at $31.86.
A number of brokerages have recently issued reports on HBHC. Zacks Investment Research raised shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, July 26th. TheStreet raised shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Hovde Group raised their price target on shares of Hancock Holding from $27.00 to $32.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. Jefferies Group reaffirmed a “hold” rating and set a $28.00 price target on shares of Hancock Holding in a report on Thursday, July 7th. Finally, Raymond James Financial Inc. raised shares of Hancock Holding from a “market perform” rating to an “outperform” rating in a report on Monday, May 9th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.57.
The stock has a 50-day moving average price of $29.86 and a 200-day moving average price of $26.29. The firm has a market cap of $2.52 billion and a P/E ratio of 24.09.
Hancock Holding (NASDAQ:HBHC) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.14. The firm earned $229 million during the quarter, compared to the consensus estimate of $229.18 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Hancock Holding Co. will post $1.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th will be issued a $0.24 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.96%.
In other news, EVP Stephen E. Barker sold 2,550 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $29.45, for a total transaction of $75,097.50. Following the transaction, the executive vice president now owns 9,966 shares in the company, valued at $293,498.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider George A. Schloegel acquired 4,633 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were bought at an average price of $28.64 per share, for a total transaction of $132,689.12. Following the acquisition, the insider now owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in Hancock Holding stock. Marshall Wace LLP acquired a new stake in shares of Hancock Holding Co. (NASDAQ:HBHC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 43,414 shares of the financial services provider’s stock, valued at approximately $1,093,000. Marshall Wace LLP owned approximately 0.06% of Hancock Holding as of its most recent filing with the SEC.
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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