IBERIABANK Corp. Coverage Initiated by Analysts at Merrill Lynch (IBKC)
Stock analysts at Merrill Lynch started coverage on shares of IBERIABANK Corp. (NASDAQ:IBKC) in a report issued on Wednesday, AmericanBankingNews.com reports. The firm set a “buy” rating on the stock.
A number of other firms have also recently commented on IBKC. Analysts at Bank of America Corp. initiated coverage on shares of IBERIABANK Corp. in a research note to investors on Wednesday. They set a “buy” rating and a $66.00 price target on the stock. Separately, analysts at Oppenheimer downgraded shares of IBERIABANK Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday. They now have a $0.85 price target on the stock. Finally, analysts at Sandler O’Neill initiated coverage on shares of IBERIABANK Corp. in a research note to investors on Tuesday, August 27th. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.54.
Shares of IBERIABANK Corp. (NASDAQ:IBKC) traded down 2.29% during mid-day trading on Wednesday, hitting $53.01. 281,046 shares of the company’s stock traded hands. IBERIABANK Corp. has a 1-year low of $44.28 and a 1-year high of $59.81. The stock has a 50-day moving average of $53.95 and a 200-day moving average of $52.72. The company has a market cap of $1.576 billion and a P/E ratio of 26.40.
IBERIABANK Corp. (NASDAQ:IBKC) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.08. During the same quarter in the prior year, the company posted $0.73 earnings per share. Analysts expect that IBERIABANK Corp. will post $2.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Investors of record on Monday, September 30th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, September 26th.
IBERIABANK Corporation (NASDAQ:IBKC), incorporated on November 21, 1994, is a financial holding company.
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