Downgrade Alert for Hancock Holding (HBHC)
Hancock Holding (NASDAQ:HBHC) was downgraded from Buy to Neutral at SunTrust today. The stock closed yesterday at $31.62 on volume of 867,000 shares, above average daily volume of 685,000.
Based on a current price of $31.62, Hancock Holding is currently 4.1% above its average consensus analyst price target of $30.33. The stock should find initial support at its 200-day moving average (MA) of $25.94 and further support at its 50-day MA of $24.35.
Hancock Holding Company is a multi-bank holding company. The Banks are community oriented and focus on offering commercial loans, consumer loans, mortgage loans, deposit services, investment management, trust services, insurance, and cash management to individuals and businesses. Hancock operates through a network of offices in Mississippi, Louisiana, Alabama, and Florida.
Hancock Holding share prices have moved between a 52-week high of $32.98 and a 52-week low of $20.01 and closed yesterday at 58% above that low price at $31.62 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Hancock Holding on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.72. Since that recommendation, shares of Hancock Holding have risen 14.2%. We continue to monitor HBHC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades hancock holding