IBERIABANK Corporation (IBKC) Receives Average Recommendation of “Buy” from Brokerages
Shares of IBERIABANK Corporation (NASDAQ:IBKC) have been assigned a consensus rating of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $90.70.
A number of research analysts recently weighed in on the stock. Hovde Group upgraded shares of IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a research note on Monday, June 5th. Zacks Investment Research cut shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. BidaskClub upgraded shares of IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Stephens set a $95.00 target price on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research note on Saturday, July 22nd.
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IBERIABANK Corporation (NASDAQ IBKC) traded down 0.27% on Friday, hitting $74.50. 1,220,416 shares of the stock traded hands. The company’s 50 day moving average price is $77.08 and its 200-day moving average price is $79.16. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 18.15 and a beta of 1.30. IBERIABANK Corporation has a 52-week low of $62.66 and a 52-week high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). The business had revenue of $239.61 million for the quarter, compared to analysts’ expectations of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. On average, analysts forecast that IBERIABANK Corporation will post $4.76 earnings per share for the current fiscal year.
In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.12, for a total value of $492,016.92. Following the sale, the insider now owns 60,553 shares in the company, valued at approximately $4,851,506.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.17% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in IBKC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in IBERIABANK Corporation by 37.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock worth $150,000 after purchasing an additional 520 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in IBERIABANK Corporation in the 2nd quarter worth $183,000. Nomura Holdings Inc. purchased a new stake in IBERIABANK Corporation in the 2nd quarter worth $205,000. Karp Capital Management Corp purchased a new stake in IBERIABANK Corporation in the 1st quarter worth $214,000. Finally, Stephens Inc. AR purchased a new stake in IBERIABANK Corporation in the 1st quarter worth $214,000. Institutional investors and hedge funds own 81.13% of the company’s stock.
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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