SunTrust Banks Inc. lowered shares of Hancock Holding Co. (NASDAQ:HBHC) from a buy rating to a neutral rating in a research note issued to investors on Monday morning. They currently have $34.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Hancock Holding from a hold rating to a buy rating and set a $33.00 price target for the company in a research report on Tuesday, July 26th. 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 research report on Tuesday, July 26th. Bank of America Corp. raised shares of Hancock Holding from an underperform rating to a neutral rating in a research report on Friday, July 22nd. Jefferies Group reissued a hold rating and set a $28.00 price target on shares of Hancock Holding in a research report on Thursday, July 7th. Finally, TheStreet raised shares of Hancock Holding from a hold rating to a buy rating in a research report on Thursday, July 14th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $29.57.

Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.05 on Monday. Hancock Holding has a one year low of $20.01 and a one year high of $32.94. The company has a market cap of $2.49 billion, a PE ratio of 23.78 and a beta of 0.95. The firm’s 50-day moving average is $31.52 and its 200-day moving average is $27.20.

Hancock Holding (NASDAQ:HBHC) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.14. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%. The business earned $229 million during the quarter, compared to the consensus estimate of $229.18 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Hancock Holding will post $1.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 1st. Hancock Holding’s dividend payout ratio is presently 71.11%.

In other Hancock Holding news, insider George A. Schloegel purchased 4,633 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of $28.64 per share, for a total transaction of $132,689.12. Following the purchase, the insider now directly owns 257,351 shares of the company’s stock, valued at approximately $7,370,532.64. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of Hancock Holding stock in a transaction on Thursday, July 28th. The stock was 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 approximately $293,498.70. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Hancock Holding by 5.1% in the first quarter. State Street Corp now owns 4,302,929 shares of the financial services provider’s stock valued at $98,805,000 after buying an additional 208,608 shares in the last quarter. Kempen Capital Management N.V. increased its stake in shares of Hancock Holding by 2.6% in the first quarter. Kempen Capital Management N.V. now owns 472,510 shares of the financial services provider’s stock valued at $10,849,000 after buying an additional 11,950 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Hancock Holding by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,285,736 shares of the financial services provider’s stock valued at $52,480,000 after buying an additional 36,628 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Hancock Holding by 27.3% in the first quarter. BlackRock Group LTD now owns 55,184 shares of the financial services provider’s stock valued at $1,267,000 after buying an additional 11,826 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Hancock Holding by 8.9% in the first quarter. BlackRock Inc. now owns 32,084 shares of the financial services provider’s stock valued at $737,000 after buying an additional 2,613 shares during the last quarter. Institutional investors and hedge funds own 81.16% of the company’s stock.

About Hancock Holding

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.

5 Day Chart for NASDAQ:HBHC

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