Soleil Securities Initiates Coverage on Hancock Holding (HBHC) with a Hold; A Solid Institution, But Fairly Valued
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Soleil Securities initiates coverage on Hancock Holding (Nasdaq: HBHC) with a Hold. Price target $37.
Soleil analyst says, "Initiate coverage with a Hold. $7.1B bank holding company whose 109 banking offices are located in four states (Mississippi, Louisiana, Alabama, and Florida) and operates primarily along the I-10 corridor across the four states. This high-quality financial institution is in solid markets that have had relatively less strain from the recession and the stock has outperformed the group over the past 12 months. Given its valuation at 2X 1Q09 TBV $17.52 and 16.7X10E$2.10, we believe the stock is fairly priced at current levels."
To see more analyst ratings on HBHC Click Here.
Hancock Holding Company is a bank holding company.
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