Hancock Holding Company (HBHC) Stock Rating Reaffirmed by Piper Jaffray Companies

Piper Jaffray Companies reissued their overweight rating on shares of Hancock Holding Company (NASDAQ:HBHC) in a report released on Thursday, October 5th, MarketBeat reports. The brokerage currently has a $52.00 price target on the financial services provider’s stock.

HBHC has been the topic of several other research reports. Keefe, Bruyette & Woods raised Hancock Holding from a market perform rating to an outperform rating and set a $50.00 price objective on the stock in a research report on Monday, August 21st. Zacks Investment Research cut Hancock Holding from a hold rating to a sell rating in a research report on Tuesday, September 19th. SunTrust Banks, Inc. reissued a hold rating and issued a $50.00 price objective on shares of Hancock Holding in a research report on Wednesday, October 4th. BidaskClub cut Hancock Holding from a hold rating to a sell rating in a research report on Saturday, August 12th. Finally, Jefferies Group LLC reissued a hold rating and issued a $51.00 price objective on shares of Hancock Holding in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $51.92.

Hancock Holding (NASDAQ HBHC) traded down 0.31% during midday trading on Thursday, hitting $48.85. The stock had a trading volume of 31,825 shares. Hancock Holding has a 1-year low of $31.94 and a 1-year high of $52.94. The stock has a market capitalization of $4.14 billion, a PE ratio of 20.39 and a beta of 0.88. The stock’s 50-day moving average is $45.86 and its 200-day moving average is $46.61.

Hancock Holding (NASDAQ:HBHC) last posted its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. Hancock Holding had a return on equity of 7.85% and a net margin of 18.91%. The business had revenue of $267.20 million for the quarter, compared to analysts’ expectations of $265.03 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, equities research analysts anticipate that Hancock Holding will post $2.70 EPS for the current fiscal year.

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In related news, insider Cecil W. Knight, Jr. acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $41.40 per share, for a total transaction of $82,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John M. Hairston sold 12,240 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold a total of 17,909 shares of company stock worth $827,307 in the last ninety days. Insiders own 1.15% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HBHC. PNC Financial Services Group Inc. raised its stake in shares of Hancock Holding by 72.2% during 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 purchasing an additional 939 shares during the period. Quantbot Technologies LP bought a new stake in shares of Hancock Holding during the 1st quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hancock Holding by 14.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,248 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 404 shares during the period. Hayek Kallen Investment Management bought a new stake in shares of Hancock Holding during the 2nd quarter valued at $204,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Hancock Holding during the 2nd quarter valued at $216,000. Institutional investors own 76.98% of the company’s stock.

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.

Analyst Recommendations for Hancock Holding (NASDAQ:HBHC)

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