Hancock Holding Co. (HBHC) Reaches New 12-Month High at $31.69
Hancock Holding Co. (NASDAQ:HBHC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.69 and last traded at $31.42, with a volume of 183,210 shares traded. The stock had previously closed at $31.36.
Several equities analysts have recently weighed in on HBHC shares. Zacks Investment Research raised shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $33.00 target price for the company 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. Jefferies Group reaffirmed a “hold” rating and set a $28.00 target price on shares of Hancock Holding in a report on Thursday, July 7th. Hovde Group lifted their target price 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. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $29.00 target price (up from $27.50) on shares of Hancock Holding in a report on Sunday, July 24th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Hancock Holding currently has a consensus rating of “Hold” and a consensus target price of $28.57.
The stock’s 50 day moving average price is $29.18 and its 200-day moving average price is $26.00. The company has a market cap of $2.44 billion and a PE ratio of 23.34.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. During the same period in the previous year, the company posted $0.51 earnings per share. The firm earned $229 million during the quarter, compared to analyst estimates of $229.18 million. Hancock Holding’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Hancock Holding Co. will post $1.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, September 1st.
In other news, insider George A. Schloegel acquired 4,633 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was acquired at an average cost of $28.64 per share, with a total value of $132,689.12. Following the completion of the acquisition, the insider now owns 257,351 shares of the company’s stock, valued at $7,370,532.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen E. Barker sold 2,550 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $29.45, for a total value of $75,097.50. Following the completion of the sale, the executive vice president now directly owns 9,966 shares of the company’s stock, valued at $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 acquired a new stake in shares of 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 firm acquired 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 at the end of the most recent reporting 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.
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