Hancock Holding Co. (HBHC) Sets New 1-Year High at $31.05
Shares of Hancock Holding Co. (NASDAQ:HBHC) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.05 and last traded at $30.96, with a volume of 346,945 shares. The stock had previously closed at $30.72.
A number of analysts recently commented on HBHC shares. Bank of America Corp. raised shares of Hancock Holding from an “underperform” rating to a “neutral” rating in a report on Friday, July 22nd. 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. TheStreet raised shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Zacks Investment Research downgraded shares of Hancock Holding from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Finally, Hovde Group upped 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.57.
The stock has a market capitalization of $2.43 billion and a price-to-earnings ratio of 23.25. The firm’s 50-day moving average price is $28.45 and its 200-day moving average price is $25.71.
Hancock Holding (NASDAQ:HBHC) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.14. The firm earned $229 million during the quarter, compared to analyst estimates of $229.18 million. During the same period last year, the business earned $0.51 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Hancock Holding Co. will post $1.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors 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 dividend yield of 3.06%.
In other Hancock Holding 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 transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider George A. Schloegel bought 4,633 shares of the stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $28.64 per share, for a total transaction of $132,689.12. Following the purchase, 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.
A number of institutional investors recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its position in 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 valued at $1,345,000 after buying an additional 1,343 shares during the last quarter. Marshall Wace LLP bought a new position in Hancock Holding during the fourth quarter valued at approximately $1,093,000. Bank of Montreal Can boosted its position in 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 valued at $2,836,000 after buying an additional 99,493 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Hancock Holding by 24.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,779,102 shares of the financial services provider’s stock valued at $95,121,000 after buying an additional 750,934 shares during the last quarter.
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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