Marshall Wace North America L.P. purchased a new stake in shares of Hancock Holding Company (NASDAQ:HBHC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,368 shares of the financial services provider’s stock, valued at approximately $753,000.
Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Hancock Holding by 72.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the financial services provider’s stock valued at $101,000 after buying an additional 939 shares during the period. Glen Harbor Capital Management LLC increased its stake in Hancock Holding by 0.7% in the 1st 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. Quantbot Technologies LP acquired a new position in Hancock Holding in the 1st quarter valued at approximately $118,000. Tyers Asset Management LLC increased its stake in Hancock Holding by 0.7% in the 1st quarter. Tyers Asset Management LLC now owns 3,124 shares of the financial services provider’s stock valued at $142,000 after buying an additional 22 shares during the period. Finally, Flinton Capital Management LLC increased its stake in Hancock Holding by 0.7% in the 1st quarter. Flinton Capital Management LLC now owns 3,976 shares of the financial services provider’s stock valued at $181,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 77.00% of the company’s stock.
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Several research firms have weighed in on HBHC. Piper Jaffray Companies set a $52.00 price objective on shares of Hancock Holding and gave the company a “buy” rating in a research note on Thursday, August 24th. Keefe, Bruyette & Woods upgraded shares of Hancock Holding from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, August 21st. BidaskClub lowered shares of Hancock Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research lowered shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of Hancock Holding in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $50.03.
Shares of Hancock Holding Company (NASDAQ:HBHC) opened at 43.05 on Tuesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 17.97 and a beta of 0.87. The firm has a 50-day moving average of $44.54 and a 200 day moving average of $46.46. Hancock Holding Company has a 52-week low of $31.12 and a 52-week high of $52.94.
Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. Hancock Holding had a net margin of 18.91% and a return on equity of 7.85%. The company had revenue of $267.20 million for the quarter, compared to the consensus estimate of $265.03 million. During the same period last year, the company earned $0.59 earnings per share. On average, analysts anticipate that Hancock Holding Company will post $2.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.23%. Hancock Holding’s dividend payout ratio (DPR) is presently 40.00%.
In other news, Director Randall W. Hanna sold 2,300 shares of Hancock Holding stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $43.93, for a total value of $101,039.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John M. Hairston sold 12,240 shares of Hancock Holding stock in a transaction that occurred on 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 sold 17,909 shares of company stock worth $827,307 over the last quarter. 1.15% of the stock is owned by corporate insiders.
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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