Research Desk Line-up: BancorpSouth Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 20, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Hancock Holding Co. (NASDAQ: HBHC) ("Hancock"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=HBHC, following the Company's release of its financial results on October 17, 2017, for the third quarter fiscal 2017 (Q3 FY17). The Gulfport, Mississippi-based Company's diluted EPS grew on a year-over-year basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
Get more of our free earnings reports coverage from other constituents of the Regional - Southeast Banks industry. Pro-TD has currently selected BancorpSouth, Inc. (NYSE: BXS) for due-diligence and potential coverage as the Company announced on October 18, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on BancorpSouth when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on HBHC; also brushing on BXS. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/?symbol=HBHC
http://protraderdaily.com/optin/?symbol=BXS
Earnings Reviewed
During Q3 FY17, Hancock's net interest income grew to $202.86 million from $163.51 million in Q3 FY16. The Company's net interest income (Tax-equivalent or TE) also rose to $211.44 million in Q3 FY17 from $170.30 million in Q3 FY16. Furthermore, non-interest income also increased to $67.12 million in Q3 FY17 from $63.01 million in the year-ago comparable quarter.
The holding Company for Whitney Bank and Hancock Bank reported net income of $58.90 million, or $0.68 per diluted share, in Q3 FY17 compared to $46.72 million, or $0.59 per diluted share, in Q3 FY16. Meanwhile, excluding non-operating expense of $11.39 million, or $0.08 per share, the Company's adjusted net income for the reported quarter stood at $0.76 per diluted share, outperforming Wall Street's net income forecasts of $0.74 per diluted share.
Earnings Metrics
During the reported quarter, the Company's return on average assets increased to 0.88% from 0.80% in the prior year's comparable quarter. The return on average common equity came in at 8.23% in Q3 FY17 versus the 7.52% reported in the year-ago same period. The Company's efficiency ratio was 57.50% in Q3 FY17, compared to 61.80% in Q3 FY16. Net interest margin (TE) improved during Q3 FY17 to 3.44% from 3.37% in Q3 FY16. Average loan/deposit ratio stood at 87.08% during Q3 FY17 versus 85.64% in the year-ago same period.
The Company's tangible common equity ratio was 7.80% at September 30, 2017, compared to 7.94% as on September 30, 2016. During Q3 FY17, return on average tangible common equity was 11.68% versus 9.92% in the prior year's same quarter.
Balance Sheet Analyzed
Hancock's average loans balance at the end of Q3 FY17 was $18.59 billion, up from $17.30 billion at the end of Q3 FY16. Additionally, average earnings asset balance in Q3 FY17 was $24.49 billion, rising from $22.77 billion in Q3 FY16. Total average deposits as on September 30, 2017, were $21.35 billion versus $19.25 billion recorded as on September 30, 2016. Moreover, average noninterest-bearing deposits also increased to $7.78 billion in Q3 FY17 from $7.46 billion in Q3 FY16.
The Company had total non-performing assets of $388 million at September 30, 2017, up $41 million from June 30, 2017. Non-performing assets as a percent of total loans, ORE, and other foreclosed assets came in flat at 2.06% as on September 30, 2017, rising 18 bps as on June 30, 2017. The Company's provision for loan losses declined to $13.04 million during the reported quarter from $15.99 million in the year-ago same quarter. Furthermore, the Company's exposure to energy industry totaled $1.1 billion, or 6.0% of total loans, as on September 30, 2017.
Stock Performance
At the closing bell, on Thursday, October 19, 2017, Hancock's stock rose 2.95%, ending the trading session at $50.60. A total volume of 511.61 thousand shares have exchanged hands. The Company's stock price skyrocketed 9.41% in the last three months, 9.76% in the past six months, and 50.19% in the previous twelve months. Moreover, the stock rallied 17.40% since the start of the year. The stock is trading at a PE ratio of 21.12 and has a dividend yield of 1.90%. The stock currently has a market cap of $4.35 billion.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
ReleaseID: 478351
