Brokers Issue Forecasts for IBERIABANK Corporation’s FY2017 Earnings (IBKC)
IBERIABANK Corporation (NASDAQ:IBKC) – Investment analysts at FIG Partners dropped their FY2017 earnings per share estimates for shares of IBERIABANK Corporation in a research note issued to investors on Tuesday. FIG Partners analyst C. Marinac now forecasts that the bank will post earnings of $4.40 per share for the year, down from their previous forecast of $4.66. FIG Partners also issued estimates for IBERIABANK Corporation’s Q1 2018 earnings at $1.28 EPS and Q2 2018 earnings at $1.39 EPS.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.13). The company had revenue of $270.19 million during the quarter, compared to analyst estimates of $276.02 million. IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.79%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 earnings per share.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Tuesday, August 1st. Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Monday, July 31st. ValuEngine raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Jefferies Group LLC raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. Finally, BidaskClub raised shares of IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. IBERIABANK Corporation has an average rating of “Buy” and a consensus target price of $87.92.
Shares of IBERIABANK Corporation (NASDAQ:IBKC) opened at 73.65 on Thursday. IBERIABANK Corporation has a 12-month low of $62.65 and a 12-month high of $91.10. The company has a 50-day moving average price of $78.26 and a 200-day moving average price of $79.15. The firm has a market capitalization of $3.95 billion, a P/E ratio of 17.95 and a beta of 1.32.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of IBERIABANK Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 4,141,740 shares of the bank’s stock valued at $337,551,000 after buying an additional 52,383 shares during the period. BlackRock Inc. increased its position in shares of IBERIABANK Corporation by 13,809.5% during the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock valued at $275,765,000 after buying an additional 3,461,213 shares during the period. State Street Corp increased its position in shares of IBERIABANK Corporation by 20.2% during the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after buying an additional 428,968 shares during the period. Northern Trust Corp increased its position in shares of IBERIABANK Corporation by 18.0% during the second quarter. Northern Trust Corp now owns 1,104,662 shares of the bank’s stock valued at $90,030,000 after buying an additional 168,174 shares during the period. Finally, FMR LLC increased its position in shares of IBERIABANK Corporation by 25.9% during the second quarter. FMR LLC now owns 724,652 shares of the bank’s stock valued at $59,059,000 after buying an additional 148,952 shares during the period. Institutional investors own 80.86% of the company’s stock.
In other IBERIABANK Corporation news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were 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 owns 60,553 shares in the company, valued at approximately $4,851,506.36. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.37 dividend. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. 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 2.01%. IBERIABANK Corporation’s payout ratio is presently 42.05%.
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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