IBERIABANK Corporation to Post Q3 2017 Earnings of $1.15 Per Share, Jefferies Group Forecasts (IBKC)
IBERIABANK Corporation (NASDAQ:IBKC) – Equities research analysts at Jefferies Group cut their Q3 2017 EPS estimates for IBERIABANK Corporation in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings of $1.15 per share for the quarter, down from their prior estimate of $1.27. Jefferies Group currently has a “Buy” rating and a $94.00 target price on the stock. Jefferies Group also issued estimates for IBERIABANK Corporation’s Q4 2017 earnings at $1.39 EPS, FY2017 earnings at $4.66 EPS, Q1 2018 earnings at $1.31 EPS, Q2 2018 earnings at $1.46 EPS, Q3 2018 earnings at $1.51 EPS and Q4 2018 earnings at $1.57 EPS.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. The firm had revenue of $239.61 million during the quarter, compared to analysts’ expectations of $236.73 million.
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A number of other research firms also recently weighed in on IBKC. Piper Jaffray Companies raised IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 target price on the stock in a report on Tuesday, August 15th. Zacks Investment Research raised IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised IBERIABANK Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. JMP Securities increased their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, July 25th. Finally, Stephens set a $95.00 target price on IBERIABANK Corporation and gave the company a “buy” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.82.
Shares of IBERIABANK Corporation (NASDAQ IBKC) opened at 83.25 on Wednesday. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 20.29 and a beta of 1.32. IBERIABANK Corporation has a one year low of $62.66 and a one year high of $91.10. The company has a 50-day moving average price of $77.63 and a 200 day moving average price of $79.10.
A number of institutional investors have recently made changes to their positions in IBKC. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in IBERIABANK Corporation by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after buying an additional 234 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in IBERIABANK Corporation during the second quarter valued at approximately $183,000. Nomura Holdings Inc. bought a new position in IBERIABANK Corporation during the second quarter valued at approximately $205,000. Stephens Inc. AR bought a new position in IBERIABANK Corporation during the first quarter valued at approximately $214,000. Finally, Karp Capital Management Corp bought a new position in IBERIABANK Corporation during the first quarter valued at approximately $214,000. 81.11% of the stock is owned by institutional investors.
In related news, insider John R. Davis sold 6,141 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was 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 directly owns 60,553 shares of the company’s stock, valued at $4,851,506.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The disclosure for this sale can be found here. Company insiders own 2.52% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 36.01%.
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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