Hancock Holding Co. (HBHC) Hits New 52-Week High at $31.69
Hancock Holding Co. (NASDAQ:HBHC) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $31.69 and last traded at $31.42, with a volume of 183,210 shares. The stock had previously closed at $31.36.
Several brokerages have commented on HBHC. Zacks Investment Research raised Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, July 26th. Jefferies Group reissued a “hold” rating and set a $28.00 target price on shares of Hancock Holding in a research note on Thursday, July 7th. Piper Jaffray Cos. reissued a “neutral” rating and set a $29.00 target price (up previously from $27.50) on shares of Hancock Holding in a research note on Sunday, July 24th. Hovde Group boosted their target price on Hancock Holding from $27.00 to $32.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 26th. Finally, TheStreet raised Hancock Holding from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $28.57.
The stock has a market capitalization of $2.44 billion and a P/E ratio of 23.33. The stock’s 50-day moving average is $28.93 and its 200-day moving average is $25.90.
Hancock Holding (NASDAQ:HBHC) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.45 by $0.14. During the same quarter in the prior year, the business earned $0.51 EPS. The company earned $229 million during the quarter, compared to the consensus estimate of $229.18 million. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Hancock Holding Co. will post $1.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th will be paid a $0.24 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.06%.
In related news, insider George A. Schloegel bought 4,633 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was 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 in the company, valued at $7,370,532.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen E. Barker sold 2,550 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $29.45, for a total value of $75,097.50. Following the completion of the transaction, the executive vice president now owns 9,966 shares of the company’s stock, valued at approximately $293,498.70. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Hancock Holding stock. Marshall Wace LLP bought a new stake in Hancock Holding Co. (NASDAQ:HBHC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,414 shares of the financial services provider’s stock, valued at approximately $1,093,000. Marshall Wace LLP owned approximately 0.06% of Hancock Holding as of its most recent filing with the SEC.
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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