IBERIABANK Corporation (IBKC) Expected to Post Q1 2018 Earnings of $1.22 Per Share
IBERIABANK Corporation (NASDAQ:IBKC) – Research analysts at Jefferies Group reduced their Q1 2018 earnings per share estimates for shares of IBERIABANK Corporation in a report released on Monday. Jefferies Group analyst C. Haire now expects that the bank will earn $1.22 per share for the quarter, down from their previous forecast of $1.31. Jefferies Group currently has a “Buy” rating and a $94.00 price target on the stock. Jefferies Group also issued estimates for IBERIABANK Corporation’s Q2 2018 earnings at $1.35 EPS, Q3 2018 earnings at $1.43 EPS, Q4 2018 earnings at $1.49 EPS and FY2019 earnings at $6.00 EPS.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Tuesday, August 1st. Robert W. Baird lowered IBERIABANK Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $97.00 to $78.00 in a research report on Monday. Hovde Group lowered IBERIABANK Corporation from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $88.00 to $82.00 in a research report on Monday. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, JMP Securities lifted their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $88.64.
TRADEMARK VIOLATION WARNING: “IBERIABANK Corporation (IBKC) Expected to Post Q1 2018 Earnings of $1.22 Per Share” was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/24/iberiabank-corporation-ibkc-expected-to-post-q1-2018-earnings-of-1-22-per-share.html.
Shares of IBERIABANK Corporation (NASDAQ:IBKC) traded up 1.201% during midday trading on Tuesday, hitting $73.725. The company had a trading volume of 142,558 shares. IBERIABANK Corporation has a 12-month low of $62.66 and a 12-month high of $91.10. The firm has a market capitalization of $3.95 billion, a P/E ratio of 17.964 and a beta of 1.32. The firm’s 50-day moving average is $78.41 and its 200-day moving average is $79.23.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). The firm had revenue of $270.19 million during the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.79%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.03%. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, September 28th. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 42.05%.
In other IBERIABANK Corporation news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the transaction, the director now directly owns 27,963 shares in the company, valued at $2,186,147.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Davis sold 6,141 shares of the firm’s 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 of the company’s stock, valued at $4,851,506.36. The disclosure for this sale can be found here. 2.52% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in IBERIABANK Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,141,740 shares of the bank’s stock valued at $337,551,000 after purchasing an additional 52,383 shares in the last quarter. BlackRock Inc. grew 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 valued at $275,765,000 after purchasing an additional 3,461,213 shares in the last quarter. State Street Corp grew its stake in IBERIABANK Corporation by 20.2% in the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after purchasing an additional 428,968 shares in the last quarter. Northern Trust Corp grew its stake in IBERIABANK Corporation by 18.0% in the second quarter. Northern Trust Corp now owns 1,104,662 shares of the bank’s stock valued at $90,030,000 after purchasing an additional 168,174 shares in the last quarter. Finally, FMR LLC grew its stake in IBERIABANK Corporation by 25.9% in the second quarter. FMR LLC now owns 724,652 shares of the bank’s stock valued at $59,059,000 after purchasing an additional 148,952 shares in the last quarter. Hedge funds and other institutional investors own 80.86% 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.
Receive News & Ratings for IBERIABANK Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK Corporation and related companies with MarketBeat.com's FREE daily email newsletter.