UPDATE: Wunderlich Upgrades Hancock Holding as Momentum Builds Heading into 2014

In a report published Thursday, Wunderlich Securities analyst Kevin Reynolds upgraded the rating on

from Hold to Buy, and raised the price target from $40.00 to $41.00. In the report, Wunderlich Securities noted, “We are upgrading shares of Hancock Holding Company (HBHC) to Buy from Hold and raising our price target by $1 to $41. Following our onsite visit with management in New Orleans on December 10, we are confident that Hancock will close out 2013 in good shape, with momentum building as the company heads into 2014. With loan growth improving, the NIM stabilizing, and expenses continuing to decline, Hancock is poised to outperform in the coming year due to better bottom line results, which should lead to expansion towards peer-like valuation multiples on projected earnings. As the least expensive of our Southern banks, and with bottom line results strengthening, we are upgrading our rating on HBHC shares to Buy.” Hancock Holding Company closed on Wednesday at $34.14.