Hancock Holding Company (NASDAQ:HBHC) – Equities researchers at Jefferies Group lowered their Q3 2017 earnings estimates for shares of Hancock Holding in a research note issued on Monday. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.75 per share for the quarter, down from their prior forecast of $0.76. Jefferies Group has a “Hold” rating and a $52.00 price objective on the stock. Jefferies Group also issued estimates for Hancock Holding’s FY2018 earnings at $3.25 EPS and FY2019 earnings at $3.50 EPS.
Hancock Holding (NASDAQ:HBHC) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The business 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 period last year, the firm posted $0.59 earnings per share. COPYRIGHT VIOLATION NOTICE: This piece was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2017/10/12/q3-2017-earnings-forecast-for-hancock-holding-company-issued-by-jefferies-group-hbhc.html.
A number of other analysts have also recently commented on HBHC. BidaskClub cut shares of Hancock Holding from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded shares of Hancock Holding from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, July 7th. Keefe, Bruyette & Woods set a $50.00 target price on shares of Hancock Holding and gave the stock a “hold” rating in a research note on Friday, August 11th. Piper Jaffray Companies set a $52.00 target price on shares of Hancock Holding and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $50.00 target price on shares of Hancock Holding in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.92.
Hancock Holding (NASDAQ:HBHC) opened at 49.05 on Tuesday. The company has a 50-day moving average of $45.56 and a 200-day moving average of $46.53. Hancock Holding has a 52 week low of $31.73 and a 52 week high of $52.94. The company has a market capitalization of $4.16 billion, a PE ratio of 20.47 and a beta of 0.88.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, August 31st. Hancock Holding’s dividend payout ratio is presently 40.00%.
In other news, CEO John M. Hairston sold 12,240 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $46.60, for a total value of $570,384.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cecil W. Knight, Jr. purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $41.40 per share, for a total transaction of $82,800.00. The disclosure for this purchase can be found here. Insiders sold a total of 17,909 shares of company stock worth $827,307 over the last quarter. Corporate insiders own 1.15% of the company’s stock.
Several large investors have recently modified their holdings of HBHC. PNC Financial Services Group Inc. increased its holdings in shares of 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 worth $101,000 after buying an additional 939 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Hancock Holding in the 1st quarter worth $118,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hancock Holding by 14.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock worth $159,000 after buying an additional 404 shares during the last quarter. Hayek Kallen Investment Management bought a new position in shares of Hancock Holding in the 2nd quarter worth $204,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Hancock Holding in the 2nd quarter worth $216,000. 76.98% of the stock is currently owned by hedge funds and other institutional investors.
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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