Hancock Holding Company (NASDAQ:HBHC) Receives a Downgrade
In analysts note revealed today, Stephens lowered shares of Hancock Holding Company (NASDAQ:HBHC) to a Equal-weight rating from the previous Overweight rating.
From a total of 11 analysts covering Hancock Holding Company (NASDAQ:HBHC) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 6 a ”Hold”. This means that 36% of the ratings are positive. The highest target price is $34 while the lowest target price is $27. The mean of all analyst targets is $30.3 with a 22.09% above today’s ($25.12) stock price. Hancock Holding Company was the topic of 5 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray initiated shares on December 8 with “Neutral” rating. Stephens upgraded HBHC stock in a recent report from July 24 to “Overweight” rating.
Approximately 729,176 shares of stock traded hands or 25.61% up from the average. Hancock Holding Company (NASDAQ:HBHC) has declined 14.21% since May 6, 2015 and is downtrending. It has underperformed by 13.42% the S&P500.
The overall sentiment of institutions has increased to 1.17 in Q2 2015. Its up 0.23, from 0.94 in 2015Q2. The ratio is positive, as 20 institutions have sold all the shares of Hancock Holding Company that they owned while 67 funds have taken shares off the table. 27 funds have purchased shares for the first time while 75 added to their positions. These institutions now hold 69.56 million shares or 17.25% more than the 59.32 million shares they owned in 2015Q2.
The Fund Forest Hill Capital Llc currently is holding shares equating to 4.15% of its total portfolio in Hancock Holding Company representing a total of 1.62 million shares. Another fund,Orleans Capital Management Corp La, is holding a total of 118,511 shares equating to 2.55% of their holdings. Additionally, Hancock Holding Co has a 1.90 million share stake in Hancock Holding Company which represents 2.15% of their total portfolio. The Fund, Rdl Financial Inc, based out of Virginia, has also built up a stake in the stock, which represents a total of 1.41% of their total portfolio. Finally Carl Domino Inc, a fund which is based in the state of Florida reported a total holdings of 57,755 shares.
Hancock Holding Company is a financial services firm that provides a network of service financial choices to the Gulf South region through its bank subsidiary, Whitney Bank, a Mississippi state bank. The company has a market cap of $1.97 billion. Whitney Bank operates under brands: Hancock Bank in Mississippi, Alabama and Florida and Whitney Bank in Louisiana and Texas. It has 13.04 P/E ratio. The Bank operates across the Gulf South region consisting of southern Mississippi; southern and central Alabama; southern Louisiana; the northern, central, and panhandle regions of Florida, and Houston, Texas.
According to Zacks Investment Research, “Hancock Holding operates banking offices automated teller machines in the states of Mississippi and Louisiana through two wholly-owned bank subsidiaries, Hancock Bank, Gulfport, Mississippi and Hancock Bank of Louisiana, Baton Rouge, Louisiana. Hancock Bank MS and Hancock Bank LA are referred to collectively as the Banks. The Banks are community oriented and focus primarily on offering commercial, consumer and mortgage loans and deposit services to individuals and small to middle market businesses in their respective market areas.” Get a free copy of the Zacks research report on Hancock Holding Company (HBHC).