Hancock Holding Co. (HBHC) Posts Earnings Results, Beats Estimates By $0.01 EPS
Hancock Holding Co. (NASDAQ:HBHC) released its quarterly earnings results on Tuesday. The financial services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Hancock Holding had a net margin of 11.20% and a return on equity of 4.53%. During the same period in the previous year, the company posted $0.52 EPS.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 32.28 on Wednesday. The company’s 50 day moving average is $32.24 and its 200 day moving average is $28.28. Hancock Holding has a 52-week low of $20.01 and a 52-week high of $33.39. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 23.95 and a beta of 0.87.
Several research analysts have 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 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 increased 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 reissued a “hold” rating and issued a $28.00 price target on shares of Hancock Holding in a report on Thursday, July 7th. Finally, SunTrust Banks Inc. cut shares of Hancock Holding from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Monday, September 19th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Hancock Holding has a consensus rating of “Hold” and a consensus target price of $29.57.
In related news, insider George A. Schloegel bought 4,633 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were purchased at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the completion of the purchase, the insider now directly owns 257,351 shares in the company, valued at $7,370,532.64. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of the business’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 completion of the transaction, the executive vice president now owns 9,966 shares in the company, valued at $293,498.70. The disclosure for this sale can be found here. Corporate insiders own 1.45% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Hancock Holding by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,147,260 shares of the financial services provider’s stock worth $134,392,000 after buying an additional 729,019 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Hancock Holding during the second quarter worth $18,529,000. Foundry Partners LLC bought a new position in Hancock Holding during the second quarter worth $10,758,000. Systematic Financial Management LP bought a new position in Hancock Holding during the second quarter worth $8,629,000. Finally, Prudential Financial Inc. boosted its position in Hancock Holding by 177.2% in the first quarter. Prudential Financial Inc. now owns 500,110 shares of the financial services provider’s stock worth $11,482,000 after buying an additional 319,708 shares during the last quarter. Hedge funds and other institutional investors own 81.13% 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.
Receive News & Ratings for Hancock Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hancock Holding Co. and related companies with MarketBeat.com's FREE daily email newsletter.