Hancock Holding Co. (HBHC) Reaches New 52-Week High at $32.76
Hancock Holding Co. (NASDAQ:HBHC) reached a new 52-week high on Tuesday . The company traded as high as $32.76 and last traded at $32.41, with a volume of 262,478 shares trading hands. The stock had previously closed at $32.59.
A number of equities research analysts recently weighed in on HBHC shares. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $29.00 price target (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th. Bank of America Corp. upgraded Hancock Holding from an “underperform” rating to a “neutral” rating in a research report on Friday, July 22nd. Zacks Investment Research lowered Hancock Holding from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Raymond James Financial upgraded Hancock Holding from a “market perform” rating to an “outperform” rating in a research report on Monday, May 9th. Finally, Jefferies Group restated a “hold” rating and issued a $28.00 price target on shares of Hancock Holding in a research report on Thursday, July 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.57.
The stock has a 50 day moving average price of $30.28 and a 200 day moving average price of $26.43. The stock has a market capitalization of $2.51 billion and a P/E ratio of 24.01.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.14. The company had revenue of $229 million for the quarter, compared to the consensus estimate of $229.18 million. Hancock Holding’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, equities analysts expect that Hancock Holding Co. will post $1.81 EPS for the current 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 $0.24 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.96 annualized dividend and a yield of 2.95%.
In related news, EVP Stephen E. Barker sold 2,550 shares of the firm’s 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 transaction, the executive vice president now owns 9,966 shares of the company’s stock, valued at approximately $293,498.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider George A. Schloegel purchased 4,633 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the transaction, the insider now owns 257,351 shares in the company, valued at approximately $7,370,532.64. The disclosure for this purchase can be found here.
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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