Zacks: Brokerages Expect Hancock Holding Company (HBHC) Will Announce Earnings of $0.74 Per Share
Wall Street brokerages expect Hancock Holding Company (NASDAQ:HBHC) to post earnings of $0.74 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Hancock Holding’s earnings. The highest EPS estimate is $0.76 and the lowest is $0.71. Hancock Holding reported earnings per share of $0.59 during the same quarter last year, which would indicate a positive year over year growth rate of 25.4%. The firm is scheduled to report its next earnings report on Tuesday, October 17th.
On average, analysts expect that Hancock Holding will report full-year earnings of $2.70 per share for the current fiscal year, with EPS estimates ranging from $2.65 to $2.73. For the next financial year, analysts forecast that the business will report earnings of $3.24 per share, with EPS estimates ranging from $3.03 to $3.35. Zacks’ EPS calculations are an average based on a survey of analysts that cover Hancock Holding.
Hancock Holding (NASDAQ:HBHC) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. The firm had revenue of $267.20 million for the quarter, compared to analysts’ expectations of $265.03 million. During the same period last year, the firm earned $0.59 EPS.
A number of brokerages have recently issued reports on HBHC. Zacks Investment Research lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Piper Jaffray Companies upgraded shares of Hancock Holding from a “neutral” rating to an “overweight” rating in a research note on Friday, May 12th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price target on shares of Hancock Holding in a research note on Friday, July 14th. BidaskClub lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Stephens restated a “hold” rating on shares of Hancock Holding in a research report on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $49.41.
Shares of Hancock Holding (NASDAQ:HBHC) opened at 46.20 on Friday. Hancock Holding has a 52-week low of $28.18 and a 52-week high of $52.94. The firm has a market capitalization of $3.91 billion, a PE ratio of 19.31 and a beta of 0.85. The stock’s 50 day moving average price is $48.10 and its 200-day moving average price is $46.83.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.96 annualized dividend and a yield of 2.08%. Hancock Holding’s payout ratio is currently 40.00%.
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In other Hancock Holding news, insider Joseph S. Exnicios sold 3,369 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $46.27, for a total value of $155,883.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John M. Hairston sold 12,240 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $46.60, for a total transaction of $570,384.00. The disclosure for this sale can be found here. Insiders have sold 35,962 shares of company stock worth $1,743,235 over the last 90 days. 1.15% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Hancock Holding by 18,052.0% in the first quarter. BlackRock Inc. now owns 9,069,853 shares of the financial services provider’s stock valued at $413,132,000 after buying an additional 9,019,887 shares during the period. Vanguard Group Inc. increased its stake in shares of Hancock Holding by 8.1% in the first quarter. Vanguard Group Inc. now owns 7,229,758 shares of the financial services provider’s stock valued at $329,316,000 after buying an additional 544,041 shares during the period. State Street Corp increased its stake in shares of Hancock Holding by 27.6% in the first quarter. State Street Corp now owns 5,110,898 shares of the financial services provider’s stock valued at $232,799,000 after buying an additional 1,103,976 shares during the period. Macquarie Group Ltd. increased its stake in shares of Hancock Holding by 2.2% in the first quarter. Macquarie Group Ltd. now owns 2,483,043 shares of the financial services provider’s stock valued at $113,103,000 after buying an additional 53,383 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Hancock Holding by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 1,532,140 shares of the financial services provider’s stock valued at $69,789,000 after buying an additional 450,787 shares during the period. 77.57% of the stock is currently owned by institutional investors.
About Hancock Holding
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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