Hancock Holding downgraded to Underperform from Neutral at Credit Suisse Credit Suisse downgraded Hancock Holding due to lower than expected margins and earnings, and lower quality loan growth. Price target cut to $25 from $32.
Hancock Holding reports Q1 operating EPS 55c, consensus 55c Reports allowance for loan losses $128.4M. Reports $3.7M net charge-offs from the non-FDIC acquired loan portfolio, or 0.11% of average total loans on an annualized basis, up from $2.6M, or 0.08% of average total loans last quarter. Reports total provision for loan losses $6.2M, down $3.6M from last quarter.