IBERIABANK Corporation (IBKC) Receives Consensus Recommendation of “Buy” from Analysts
IBERIABANK Corporation (NASDAQ:IBKC) has earned a consensus rating of “Buy” from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $88.67.
Several brokerages have recently weighed in on IBKC. Zacks Investment Research upgraded IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine cut IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Jefferies Group LLC upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $89.00 to $94.00 in a report on Monday, October 9th. JMP Securities boosted their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $89.00 target price on shares of IBERIABANK Corporation in a report on Thursday, October 5th.
In other news, insider John R. Davis sold 6,141 shares of the company’s stock in a transaction 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 sale, the insider now owns 60,553 shares of the company’s stock, valued at $4,851,506.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 27,963 shares in the company, valued at approximately $2,186,147.34. The disclosure for this sale can be found here. 3.17% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its stake in shares of IBERIABANK Corporation by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after purchasing an additional 213 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of IBERIABANK Corporation by 49.7% during the second quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock worth $19,431,000 after purchasing an additional 79,178 shares in the last quarter. BlackRock Inc. grew its stake 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 worth $275,765,000 after purchasing an additional 3,461,213 shares in the last quarter. BB&T Corp acquired a new position in shares of IBERIABANK Corporation during the third quarter worth $277,000. Finally, Rhumbline Advisers grew its stake in shares of IBERIABANK Corporation by 6.9% during the second quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock worth $5,303,000 after purchasing an additional 4,205 shares in the last quarter. 80.61% of the stock is currently owned by institutional investors and hedge funds.
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IBERIABANK Corporation (IBKC) traded down $0.35 during mid-day trading on Friday, reaching $74.10. The company had a trading volume of 270,375 shares, compared to its average volume of 602,307. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20. IBERIABANK Corporation has a 12 month low of $64.70 and a 12 month high of $91.10. The firm has a market cap of $3,991.32, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.
IBERIABANK Corporation (NASDAQ:IBKC) last issued its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). The company had revenue of $270.19 million for the quarter, compared to analyst estimates of $276.02 million. IBERIABANK Corporation had a return on equity of 6.79% and a net margin of 17.14%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. equities research analysts anticipate that IBERIABANK Corporation will post 4.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a $0.37 dividend. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a yield of 2.00%. 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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