First Mercantile Trust Co Lowers stake in Hancock Holding Company (HBHC)

Hancock Holding Company (HBHC) : First Mercantile Trust Co reduced its stake in Hancock Holding Company by 44.55% during the most recent quarter end. The investment management company now holds a total of 17,065 shares of Hancock Holding Company which is valued at $559,049 after selling 13,710 shares in Hancock Holding Company , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Hancock Holding Company makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in HBHC in the latest quarter, The investment management firm added 44 additional shares and now holds a total of 143 shares of Hancock Holding Company which is valued at $4,685.Independent Portfolio Consultants reduced its stake in HBHC by selling 10 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 1,195 shares of HBHC which is valued at $39,507. Hancock Holding Company makes up approx 0.01% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in HBHC by selling 24,711 shares or 62.51% in the most recent quarter. The Hedge Fund company now holds 14,822 shares of HBHC which is valued at $490,015.

Hancock Holding Company closed down -0.12 points or -0.36% at $32.76 with 7,35,617 shares getting traded on Friday. Post opening the session at $32.9, the shares hit an intraday low of $32.29 and an intraday high of $33.08 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Hancock Holding Company reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.44. The company had revenue of $229.00 million for the quarter, compared to analysts expectations of $229.26 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on Hancock Holding Company. Hancock Holding Company was Downgraded by SunTrust to ” Neutral” on Sep 19, 2016. Company shares were Reiterated by Hovde Group on Jul 26, 2016 to “Market Perform”, Firm has raised the Price Target to $ 32 from a previous price target of $27 .Hancock Holding Company was Upgraded by BofA/Merrill to ” Neutral” on Jul 22, 2016.

Hancock Holding Company (Hancock) is a financial services company that provides a network of service financial choices to the Gulf South region through its bank subsidiary Whitney Bank a Mississippi state bank. Whitney Bank operates under brands: Hancock Bank in Mississippi Alabama and Florida and Whitney Bank in Louisiana and Texas. 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. The Bank offers a range of traditional and online community banking services to commercial small business and retail customers providing a variety of transaction and savings deposit products treasury management services investment brokerage services secured and unsecured loan products and letters of credit and financial guarantees. It also provides trust and investment management services to retirement plans corporations and individuals.

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