Hancock Holding Co. (HBHC) Shares Up 1.8%
Shares of Hancock Holding Co. (NASDAQ:HBHC) shot up 1.8% during trading on Tuesday . The company traded as high as $28.35 and last traded at $28.13, with a volume of 581,895 shares. The stock had previously closed at $27.63.
A number of research firms have recently commented on HBHC. Zacks Investment Research downgraded Hancock Holding from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. TheStreet upgraded Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Jefferies Group restated a “hold” rating and set a $28.00 price objective on shares of Hancock Holding in a report on Thursday, July 7th. Hovde Group upped their price objective on Hancock Holding from $24.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, April 21st. Finally, Raymond James Financial Inc. upgraded Hancock Holding from a “market perform” rating to an “outperform” rating in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Hancock Holding has an average rating of “Hold” and a consensus price target of $27.71.
The stock has a market capitalization of $2.16 billion and a P/E ratio of 23.21. The firm’s 50-day moving average price is $26.27 and its 200-day moving average price is $24.73.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.14. During the same period in the prior year, the business posted $0.51 EPS. The firm earned $229 million during the quarter, compared to analyst estimates of $229.18 million. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts predict that Hancock Holding Co. will post $1.51 earnings per share for the current year.
In other news, insider Joseh S. Exnicios acquired 1,075 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was purchased at an average price of $24.41 per share, with a total value of $26,240.75. Following the purchase, the insider now owns 429 shares of the company’s stock, valued at approximately $10,471.89. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
A number of institutional investors have recently bought and sold shares of HBHC. Marshall Wace LLP purchased a new position in Hancock Holding during the fourth quarter worth approximately $1,093,000. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Hancock Holding by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 50,329 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 17,074 shares during the period. Mutual of America Capital Management LLC raised its stake 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 worth $1,345,000 after buying an additional 1,343 shares during the period. Retirement Systems of Alabama raised its stake in shares of Hancock Holding by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 99,452 shares of the financial services provider’s stock worth $2,503,000 after buying an additional 428 shares during the period. Finally, Bank of Montreal Can raised its stake 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 worth $2,836,000 after buying an additional 99,493 shares during the period.
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.