Hancock Holding (HBHC) Shares Bought by Arizona State Retirement System
Arizona State Retirement System raised its position in shares of Hancock Holding (NASDAQ:HBHC) by 27.6% during the 4th quarter, Holdings Channel reports. The firm owned 61,313 shares of the financial services provider’s stock after buying an additional 13,280 shares during the quarter. Arizona State Retirement System’s holdings in Hancock were worth $3,035,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the business. Macquarie Group Ltd. grew its stake in Hancock by 6.6% during the 3rd quarter. Macquarie Group Ltd. now owns 2,712,351 shares of the financial services provider’s stock valued at $131,414,000 after purchasing an additional 166,902 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hancock by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 1,622,960 shares of the financial services provider’s stock worth $78,633,000 after buying an additional 16,814 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Hancock by 5.2% in the third quarter. Ameriprise Financial Inc. now owns 1,360,353 shares of the financial services provider’s stock worth $65,909,000 after buying an additional 66,884 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Hancock by 12.8% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,309,781 shares of the financial services provider’s stock worth $63,459,000 after buying an additional 148,778 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Hancock by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,183,841 shares of the financial services provider’s stock worth $58,601,000 after buying an additional 17,705 shares during the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.
HBHC has been the topic of a number of recent research reports. Sandler O’Neill upgraded Hancock from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. BidaskClub upgraded Hancock from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded Hancock from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 target price on shares of Hancock in a research note on Friday, January 19th. Finally, SunTrust Banks restated a “hold” rating and issued a $57.00 target price on shares of Hancock in a research note on Tuesday, January 9th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $56.75.
Hancock (NASDAQ:HBHC) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $277.74 million for the quarter, compared to the consensus estimate of $282.68 million. Hancock had a return on equity of 8.96% and a net margin of 18.46%. During the same quarter in the prior year, the business posted $0.64 earnings per share. research analysts expect that Hancock Holding will post 3.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. Hancock’s dividend payout ratio is currently 38.55%.
In other Hancock news, Director Frank E. Bertucci sold 3,031 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $55.00, for a total transaction of $166,705.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert W. Roseberry sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $54.00, for a total value of $1,350,000.00. The disclosure for this sale can be found here. Insiders have sold 29,631 shares of company stock worth $1,603,015 in the last quarter. 1.15% of the stock is currently owned by company insiders.
Hancock 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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