IBERIABANK Corporation (IBKC) Given Average Rating of “Buy” by Brokerages
IBERIABANK Corporation (NASDAQ:IBKC) has been assigned an average recommendation of “Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $91.00.
A number of equities research analysts have weighed in on the stock. Jefferies Group LLC upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $89.00 to $94.00 in a research report on Monday. Zacks Investment Research upgraded shares of IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Jaffray Companies reiterated an “overweight” rating and set a $89.00 price target on shares of IBERIABANK Corporation in a research report on Thursday, October 5th. ValuEngine cut shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Finally, BidaskClub cut shares of IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th.
IBERIABANK Corporation (IBKC) traded down 0.60% during midday trading on Wednesday, reaching $82.75. 128,407 shares of the company’s stock traded hands. The firm’s 50-day moving average is $77.63 and its 200-day moving average is $79.10. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 20.13 and a beta of 1.32. IBERIABANK Corporation has a 1-year low of $62.65 and a 1-year high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly 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). IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The company had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. Analysts forecast that IBERIABANK Corporation will post $4.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s payout ratio is 36.01%.
In related news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction that occurred 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 completion of the transaction, the insider now owns 60,553 shares in the company, valued at $4,851,506.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of IBERIABANK Corporation stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the completion of the transaction, the director now owns 27,963 shares of the company’s stock, valued at approximately $2,186,147.34. The disclosure for this sale can be found here. Insiders own 2.52% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Menta Capital LLC purchased a new position in IBERIABANK Corporation in the first quarter worth approximately $1,044,000. Prudential Financial Inc. lifted its stake in IBERIABANK Corporation by 49.7% in the second quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock worth $19,431,000 after acquiring an additional 79,178 shares during the last quarter. BlackRock Inc. lifted 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 acquiring an additional 3,461,213 shares during the last quarter. Rhumbline Advisers lifted its stake in IBERIABANK Corporation by 6.9% in the second quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock worth $5,303,000 after acquiring an additional 4,205 shares during the last quarter. Finally, Stieven Capital Advisors L.P. lifted its stake in IBERIABANK Corporation by 7.8% in the second quarter. Stieven Capital Advisors L.P. now owns 134,800 shares of the bank’s stock worth $10,986,000 after acquiring an additional 9,800 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.
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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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