American International Group Inc. Boosts Position in Hancock Holding (HBHC)
American International Group Inc. increased its stake in Hancock Holding (NASDAQ:HBHC) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,909 shares of the financial services provider’s stock after purchasing an additional 6,600 shares during the quarter. American International Group Inc. owned approximately 0.27% of Hancock worth $11,139,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Hancock by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,606,146 shares of the financial services provider’s stock worth $78,702,000 after purchasing an additional 74,006 shares during the period. Sei Investments Co. raised its holdings in shares of Hancock by 21.8% in the 2nd quarter. Sei Investments Co. now owns 20,948 shares of the financial services provider’s stock worth $1,026,000 after purchasing an additional 3,747 shares during the period. Federated Investors Inc. PA raised its holdings in shares of Hancock by 6.2% in the 2nd quarter. Federated Investors Inc. PA now owns 126,899 shares of the financial services provider’s stock worth $6,218,000 after purchasing an additional 7,370 shares during the period. Legal & General Group Plc raised its holdings in shares of Hancock by 11.8% in the 2nd quarter. Legal & General Group Plc now owns 100,332 shares of the financial services provider’s stock worth $4,914,000 after purchasing an additional 10,621 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Hancock by 4.6% in the 2nd quarter. Principal Financial Group Inc. now owns 361,366 shares of the financial services provider’s stock worth $17,706,000 after purchasing an additional 15,886 shares during the period. 75.35% of the stock is currently owned by institutional investors.
HBHC has been the topic of a number of research reports. Piper Jaffray Companies set a $52.00 price target on shares of Hancock and gave the stock a “buy” rating in a report on Thursday, August 24th. ValuEngine cut shares of Hancock from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Jefferies Group LLC reissued a “hold” rating and set a $52.00 target price on shares of Hancock in a report on Thursday, October 12th. Keefe, Bruyette & Woods set a $50.00 target price on shares of Hancock and gave the company a “hold” rating in a report on Friday, August 11th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $50.00 target price on shares of Hancock in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $51.92.
Shares of Hancock Holding (HBHC) opened at $48.80 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.12. Hancock Holding has a 1-year low of $39.75 and a 1-year high of $52.94. The stock has a market cap of $4,156.83, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90.
Hancock (NASDAQ:HBHC) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Hancock had a net margin of 21.82% and a return on equity of 8.15%. The business had revenue of $269.97 million for the quarter, compared to analysts’ expectations of $279.80 million. During the same quarter in the previous year, the firm posted $0.59 EPS. equities research analysts forecast that Hancock Holding will post 2.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. Hancock’s payout ratio is 38.55%.
In other news, insider Cecil W. Knight, Jr. purchased 2,000 shares of Hancock stock in a transaction dated Thursday, September 7th. The stock was purchased at an average cost of $41.40 per share, for a total transaction of $82,800.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samuel B. Kendricks sold 2,982 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.62, for a total transaction of $144,984.84. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.
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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