Referenced Stocks

Analyst Actions: Hancock Holding Downgraded, TP Cut $7 at Credit Suisse; Shares Drop 5%

By Midnight Trader,  January 28, 2013, 12:28:46 PM EDT

Hancock Holding Company ( HBHC ) has been downgraded at Credit Suisse to an Underperform rating from Neutral. The price target on the stock has been lowered to $25 from $32 a share.

"We are lowering HBHC to Underperform (from Neutral) partly based on a lower-than-expected core earnings power excluding accretable yield," said Credit Suisse. " A newly disclosed core margin that now excludes both Whitney & Peoples (not just WTNY) is 20-30 bps lower than our prior estimate and creates a larger earnings hole to fill as acquired loans run-off."

The firm also lowered their our 2013E and 2014E EPS to $2.40 and $2.50, from $2.55 and $2.75 respectively due to a lower core margin and higher credit costs.

Shares of HBHC are down 4.7% to $29.98 in mid-day trading, within a 52-week range of $27.95 - $36.73.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: HBHC



Latest News Video

Donald Rumsfeld On Same Sex Marriage
Donald Rumsfeld On Same Sex Marriag...
GOP Party Divisions May Hinder Momentum
GOP Party Divisions May Hinder Mome...
New York Times Criticizes Obama Administration
New York Times Criticizes Obama Adm...
New Home Demand Drives Toll
New Home Demand Drives Toll         


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.62 0.18  1.34%
PFE $ 29.663 0.88  3.07%
CLWR $ 3.38 0.02  0.59%
F $ 15.2751 0.33  2.17%
MSFT $ 34.72 0.13  0.37%
GE $ 24.01 0.35  1.48%
JPM $ 54.59 1.57  2.96%
QQQ $ 74.62 0.35  0.47%