Municipal Employees Retirement System of Michigan decreased its stake in Hancock Holding Company (NASDAQ:HBHC) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 32,620 shares of the financial services provider’s stock after selling 5,610 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Hancock Holding were worth $1,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Breton Hill Capital Ltd. increased its position in shares of Hancock Holding by 298.4% in the first quarter. Breton Hill Capital Ltd. now owns 23,445 shares of the financial services provider’s stock valued at $1,068,000 after buying an additional 17,560 shares during the period. IFP Advisors Inc increased its position in shares of Hancock Holding by 6.5% in the first quarter. IFP Advisors Inc now owns 4,498 shares of the financial services provider’s stock valued at $205,000 after buying an additional 275 shares during the period. Strs Ohio increased its position in shares of Hancock Holding by 21.8% in the first quarter. Strs Ohio now owns 12,300 shares of the financial services provider’s stock valued at $560,000 after buying an additional 2,200 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of Hancock Holding by 0.7% in the first quarter. Glen Harbor Capital Management LLC now owns 2,272 shares of the financial services provider’s stock valued at $103,000 after buying an additional 16 shares during the period. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Hancock Holding during the first quarter valued at about $294,000. Institutional investors own 77.57% of the company’s stock.

Shares of Hancock Holding Company (NASDAQ HBHC) opened at 46.20 on Friday. Hancock Holding Company has a 52 week low of $28.18 and a 52 week high of $52.94. The company has a market cap of $3.91 billion, a PE ratio of 19.31 and a beta of 0.85. The company has a 50 day moving average of $48.10 and a 200 day moving average of $46.83.

Hancock Holding (NASDAQ:HBHC) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The company had revenue of $267.20 million for the quarter, compared to analysts’ expectations of $265.03 million. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. During the same quarter last year, the company earned $0.59 EPS. On average, analysts expect that Hancock Holding Company will post $2.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 31st. Hancock Holding’s payout ratio is presently 40.00%.

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Several brokerages have recently issued reports on HBHC. Zacks Investment Research downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price target on shares of Hancock Holding in a report on Friday, July 14th. ValuEngine upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Piper Jaffray Companies upgraded shares of Hancock Holding from a “neutral” rating to an “overweight” rating in a report on Friday, May 12th. Finally, BidaskClub downgraded shares of Hancock Holding from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $49.41.

In related news, insider George A. Schloegel sold 4,953 shares of Hancock Holding stock in a transaction on Friday, June 9th. The shares were sold at an average price of $50.78, for a total value of $251,513.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph S. Exnicios sold 3,369 shares of Hancock Holding stock in a transaction on Monday, July 31st. The stock was sold at an average price of $46.27, for a total transaction of $155,883.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,962 shares of company stock worth $1,743,235. 1.15% of the stock is owned by corporate insiders.

Hancock Holding Company Profile

Hancock Holding Company is a financial services company that provides a network of service financial choices to the Gulf South region, through its bank subsidiary, Whitney Bank (the Bank), a Mississippi state bank. The Company operates through overall banking operations segment. The Bank operates under brands, such as Hancock Bank in Mississippi, Alabama and Florida, and Whitney Bank in Louisiana and Texas.

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Institutional Ownership by Quarter for Hancock Holding (NASDAQ:HBHC)

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