UPDATE: Jefferies Raises PT on Hancock Holding Company on Flat Near-Term Earnings Trajectory
In a report published Monday, Jefferies analyst Emlen Harmon reiterated a Hold rating on Hancock Holding Company (NASDAQ: HBHC), and raised the price target from $31.00 to $32.00.
In the report, Jefferies noted, “While reported earnings in 2Q13 were a little light on higher than expected expenses, the company maintained longer-term guidance including run-rate annual expense saves of $50mm by 4Q13 and flat-to-down quarterly EPS over the near-term. However, our estimates for '13 and '14 are each down a dime, as cost saves appear to be developing slower than expected, and absolute earning asset growth could be limited by mix-shift.”
Hancock Holding Company closed on Friday at $32.90.
Latest Ratings for HBHC
|Jan 2015||Keefe Bruyette & Woods||Maintains||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.