Zacks: Brokerages Anticipate IBERIABANK Corporation (IBKC) to Announce $1.24 Earnings Per Share
Equities analysts expect IBERIABANK Corporation (NASDAQ:IBKC) to announce $1.24 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for IBERIABANK Corporation’s earnings. The highest EPS estimate is $1.31 and the lowest is $1.20. IBERIABANK Corporation reported earnings per share of $1.08 in the same quarter last year, which suggests a positive year-over-year growth rate of 14.8%. The company is scheduled to report its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that IBERIABANK Corporation will report full year earnings of $4.73 per share for the current year, with EPS estimates ranging from $4.60 to $4.90. For the next year, analysts forecast that the business will post earnings of $5.87 per share, with EPS estimates ranging from $5.75 to $6.00. Zacks’ EPS averages are an average based on a survey of analysts that follow IBERIABANK Corporation.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The business had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million.
Several brokerages have recently weighed in on IBKC. Hovde Group upgraded shares of IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a research report on Monday, June 5th. Zacks Investment Research downgraded shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. BidaskClub upgraded shares of IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. IBERIABANK Corporation has a consensus rating of “Buy” and a consensus target price of $90.70.
In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the completion of the transaction, the insider now owns 60,553 shares in the company, valued at approximately $4,851,506.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.17% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of IBKC. Profund Advisors LLC grew its stake in shares of IBERIABANK Corporation by 5.0% during the 1st quarter. Profund Advisors LLC now owns 3,949 shares of the bank’s stock worth $312,000 after purchasing an additional 187 shares during the period. Wells Fargo & Company MN grew its stake in shares of IBERIABANK Corporation by 2.5% during the 1st quarter. Wells Fargo & Company MN now owns 389,368 shares of the bank’s stock worth $30,799,000 after purchasing an additional 9,526 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of IBERIABANK Corporation by 37.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,612 shares of the bank’s stock worth $443,000 after purchasing an additional 1,521 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of IBERIABANK Corporation by 2.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,493 shares of the bank’s stock worth $1,463,000 after purchasing an additional 480 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of IBERIABANK Corporation by 11.5% during the 1st quarter. First Trust Advisors LP now owns 97,131 shares of the bank’s stock worth $7,683,000 after purchasing an additional 10,036 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.
IBERIABANK Corporation (NASDAQ:IBKC) traded down 1.65% during midday trading on Thursday, reaching $74.70. 281,469 shares of the company were exchanged. The firm has a 50-day moving average price of $77.59 and a 200-day moving average price of $79.30. The company has a market capitalization of $4.01 billion, a PE ratio of 18.20 and a beta of 1.30. IBERIABANK Corporation has a 52 week low of $62.66 and a 52 week high of $91.10.
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About IBERIABANK Corporation
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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