Iberiabank Corp. (IBKC) Forecasted to Post Q4 2016 Earnings of $1.22 Per Share
Iberiabank Corp. (NASDAQ:IBKC) – Jefferies Group cut their Q4 2016 earnings estimates for Iberiabank Corp. in a research report issued on Tuesday. Jefferies Group analyst E. Harmon now anticipates that the firm will post earnings of $1.22 per share for the quarter, down from their previous forecast of $1.23. Jefferies Group also issued estimates for Iberiabank Corp.’s Q1 2017 earnings at $1.05 EPS, Q2 2017 earnings at $1.28 EPS, Q3 2017 earnings at $1.26 EPS, Q4 2017 earnings at $1.35 EPS and FY2018 earnings at $5.30 EPS.
Iberiabank Corp. (NASDAQ:IBKC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The business earned $227.70 million during the quarter, compared to the consensus estimate of $224.83 million. During the same period in the prior year, the company earned $1.05 EPS. Iberiabank Corp.’s revenue for the quarter was up 4.8% on a year-over-year basis.
Other analysts have also issued reports about the company. Iberia Capital upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Friday, August 26th. Zacks Investment Research upgraded Iberiabank Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, July 6th. FBR & Co boosted their target price on Iberiabank Corp. from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Piper Jaffray Cos. upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $78.00 in a research note on Friday, October 7th. Finally, FIG Partners upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Iberiabank Corp. currently has an average rating of “Buy” and an average target price of $66.50.
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Shares of Iberiabank Corp. (NASDAQ:IBKC) traded down 3.38% during mid-day trading on Thursday, hitting $67.39. The company had a trading volume of 221,030 shares. The company’s 50-day moving average is $68.10 and its 200 day moving average is $61.64. Iberiabank Corp. has a one year low of $42.20 and a one year high of $71.50. The company has a market capitalization of $2.77 billion, a PE ratio of 15.69 and a beta of 1.10.
Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Iberiabank Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,783 shares of the company’s stock worth $106,000 after buying an additional 778 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Iberiabank Corp. by 7,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock worth $123,000 after buying an additional 2,030 shares during the last quarter. Advisor Group Inc. purchased a new position in Iberiabank Corp. during the second quarter worth about $125,000. Johnson Financial Group Inc. boosted its position in Iberiabank Corp. by 25.0% in the second quarter. Johnson Financial Group Inc. now owns 2,550 shares of the company’s stock worth $152,000 after buying an additional 510 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Iberiabank Corp. by 368.3% in the second quarter. Sei Investments Co. now owns 2,604 shares of the company’s stock worth $155,000 after buying an additional 2,048 shares during the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.
In related news, EVP Anthony J. Restel sold 3,342 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $69.22, for a total transaction of $231,333.24. Following the completion of the transaction, the executive vice president now directly owns 36,405 shares in the company, valued at $2,519,954.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John R. Davis sold 8,560 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $68.02, for a total value of $582,251.20. Following the transaction, the insider now owns 57,264 shares of the company’s stock, valued at $3,895,097.28. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.06%. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, September 28th. Iberiabank Corp.’s payout ratio is presently 33.57%.
Iberiabank Corp. Company Profile
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE LLC., which invests in purchased tax credits.
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