Analysts Anticipate IBERIABANK Corporation (NASDAQ:IBKC) Will Post Earnings of $1.22 Per Share
Analysts forecast that IBERIABANK Corporation (NASDAQ:IBKC) will announce earnings per share of $1.22 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for IBERIABANK Corporation’s earnings, with the highest EPS estimate coming in at $1.31 and the lowest estimate coming in at $1.13. IBERIABANK Corporation reported earnings per share of $1.08 during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The company is scheduled to issue its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that IBERIABANK Corporation will report full year earnings of $4.67 per share for the current year, with EPS estimates ranging from $4.40 to $4.90. For the next financial year, analysts expect that the business will report earnings of $5.84 per share, with EPS estimates ranging from $5.53 to $6.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover IBERIABANK Corporation.
IBERIABANK Corporation (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by $0.02. The business had revenue of $239.61 million during the quarter, compared to analysts’ expectations of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 7.14%.
IBKC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Stephens set a $95.00 price objective on IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Keefe, Bruyette & Woods set a $90.00 price objective on IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Monday, June 5th. Iberia Capital upgraded IBERIABANK Corporation from an “outperform” rating to a “strong-buy” rating and set a $93.00 price objective on the stock in a research note on Friday, May 19th. Finally, BidaskClub lowered IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $86.92.
In related news, Vice Chairman Michael J. Brown sold 25,000 shares of IBERIABANK Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $78.82, for a total transaction of $1,970,500.00. Following the sale, the insider now directly owns 93,878 shares of the company’s stock, valued at $7,399,463.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director E Stewart Shea III sold 4,147 shares of IBERIABANK Corporation stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $80.65, for a total value of $334,455.55. Following the sale, the director now directly owns 13,179 shares in the company, valued at $1,062,886.35. The disclosure for this sale can be found here. 2.52% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in IBKC. BlackRock Inc. increased its stake in IBERIABANK Corporation by 13,809.5% in the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock worth $275,765,000 after buying an additional 3,461,213 shares during the last quarter. EJF Capital LLC increased its stake in IBERIABANK Corporation by 3,391.7% in the first quarter. EJF Capital LLC now owns 925,925 shares of the bank’s stock worth $73,241,000 after buying an additional 899,407 shares during the last quarter. FMR LLC bought a new stake in IBERIABANK Corporation during the first quarter worth $45,538,000. Vanguard Group Inc. increased its stake in IBERIABANK Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 4,089,357 shares of the bank’s stock worth $323,469,000 after buying an additional 502,701 shares during the last quarter. Finally, State Street Corp increased its stake in IBERIABANK Corporation by 27.1% in the first quarter. State Street Corp now owns 2,126,739 shares of the bank’s stock worth $168,230,000 after buying an additional 454,085 shares during the last quarter. 87.34% of the stock is currently owned by institutional investors and hedge funds.
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Shares of IBERIABANK Corporation (NASDAQ IBKC) traded up 0.31% on Tuesday, reaching $80.85. The company had a trading volume of 250,519 shares. IBERIABANK Corporation has a 52-week low of $62.66 and a 52-week high of $91.10. The company has a 50-day moving average price of $80.77 and a 200-day moving average price of $80.58. The firm has a market capitalization of $4.12 billion, a PE ratio of 19.71 and a beta of 1.28.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Wednesday, June 28th. IBERIABANK Corporation’s dividend payout ratio (DPR) is presently 35.04%.
IBERIABANK Corporation Company Profile
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory 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 (CDE), which invests in purchased tax credits.
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