Jefferies Updating Estimates On Hancock

According to Jefferies, Hancock Holding HBHC estimates have been changed. Jefferies reported that it is updating our EPS estimates for the WTNY acquisition and 4Q10 earnings following the completion of the $200mm capital raise the company indicated it would undergo at the time of the deal. “Our updated estimate is 7% above our prior 2013 EPS estimate (to $3.05 from $2.85), and also incorporates revenue lost from interchange legislation in addition to the deal. We are raising our price target to $35 (from $33).” Hancock Holding closed yesterday at $32.84.