SunTrust Banks Reiterates Hold Rating for Hancock (HBHC)
SunTrust Banks reiterated their hold rating on shares of Hancock (NASDAQ:HBHC) in a research report released on Tuesday morning. SunTrust Banks currently has a $57.00 price objective on the financial services provider’s stock. SunTrust Banks also issued estimates for Hancock’s Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $0.93 EPS, Q3 2018 earnings at $0.96 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.68 EPS and FY2019 earnings at $4.08 EPS.
Several other equities analysts have also weighed in on HBHC. Sandler O’Neill upgraded Hancock from a hold rating to a buy rating in a research note on Thursday, January 4th. BidaskClub lowered Hancock from a buy rating to a hold rating in a research note on Friday, December 29th. Jefferies Group restated a hold rating and issued a $52.00 price target on shares of Hancock in a research note on Thursday, October 12th. ValuEngine lowered Hancock from a buy rating to a hold rating in a research note on Friday, November 17th. Finally, Piper Jaffray Companies restated an overweight rating and issued a $52.00 price target on shares of Hancock in a research note on Thursday, October 5th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $53.23.
Hancock (NASDAQ:HBHC) traded up $0.80 during midday trading on Tuesday, hitting $53.90. The company’s stock had a trading volume of 595,700 shares, compared to its average volume of 640,450. The stock has a market cap of $4,630.00, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.88 and a beta of 0.91. Hancock has a twelve month low of $41.05 and a twelve month high of $54.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.82 and a quick ratio of 0.82.
Hancock (NASDAQ:HBHC) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $269.97 million during the quarter, compared to analyst estimates of $279.80 million. Hancock had a return on equity of 8.27% and a net margin of 19.08%. During the same quarter last year, the business posted $0.59 EPS. sell-side analysts expect that Hancock will post 2.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, December 5th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.78%. Hancock’s dividend payout ratio is presently 38.55%.
In related news, insider Samuel B. Kendricks sold 2,982 shares of Hancock stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $48.62, for a total value of $144,984.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.15% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its holdings in Hancock by 25.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the financial services provider’s stock worth $137,000 after buying an additional 581 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hancock 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. Sabal Trust CO acquired a new stake in Hancock in the 3rd quarter worth about $216,000. Adviser Investments LLC acquired a new stake in Hancock in the 3rd quarter worth about $224,000. Finally, Quantbot Technologies LP boosted its holdings in Hancock by 82.0% in the 2nd quarter. Quantbot Technologies LP now owns 4,745 shares of the financial services provider’s stock worth $232,000 after buying an additional 2,138 shares during the last quarter. Institutional investors own 77.21% of the company’s stock.
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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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