IBERIABANK Corporation (IBKC) Rating Lowered to Hold at Zacks Investment Research
IBERIABANK Corporation (NASDAQ:IBKC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
Other equities analysts have also issued reports about the company. BidaskClub lowered IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. JMP Securities upped their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 25th. ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies upgraded IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 target price on the stock in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. IBERIABANK Corporation currently has an average rating of “Buy” and a consensus target price of $90.50.
IBERIABANK Corporation (NASDAQ IBKC) traded down 1.27% on Wednesday, reaching $81.75. The company’s stock had a trading volume of 174,843 shares. The stock’s 50 day moving average price is $76.94 and its 200 day moving average price is $78.92. The firm has a market cap of $4.38 billion, a PE ratio of 19.92 and a beta of 1.32. IBERIABANK Corporation has a 52-week low of $62.66 and a 52-week high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share 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 the consensus estimate of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. Equities research analysts expect that IBERIABANK Corporation will post $4.74 earnings per share for the current fiscal year.
In other news, insider John R. Davis sold 6,141 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.12, for a total transaction of $492,016.92. Following the transaction, the insider now directly owns 60,553 shares in the company, valued at approximately $4,851,506.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $78.18, for a total value of $390,900.00. Following the transaction, the director now owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in IBKC. Nations Financial Group Inc. IA ADV grew its position in IBERIABANK Corporation by 0.4% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock worth $260,000 after acquiring an additional 14 shares during the last quarter. PNC Financial Services Group Inc. grew its position in IBERIABANK Corporation by 0.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after acquiring an additional 20 shares during the last quarter. IFP Advisors Inc grew its position in IBERIABANK Corporation by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after acquiring an additional 20 shares during the last quarter. US Bancorp DE grew its position in IBERIABANK Corporation by 1.4% during the 1st quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock worth $225,000 after acquiring an additional 38 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its position in IBERIABANK Corporation by 0.6% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 81.11% 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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