Zacks: Brokerages Expect IBERIABANK Corp (IBKC) Will Announce Quarterly Sales of $286.28 Million
Wall Street analysts expect that IBERIABANK Corp (NASDAQ:IBKC) will announce $286.28 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for IBERIABANK’s earnings, with the lowest sales estimate coming in at $284.00 million and the highest estimate coming in at $288.00 million. IBERIABANK posted sales of $214.90 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.2%. The company is scheduled to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that IBERIABANK will report full-year sales of $286.28 million for the current financial year, with estimates ranging from $1.01 billion to $1.03 billion. For the next year, analysts forecast that the business will report sales of $1.24 billion per share, with estimates ranging from $1.21 billion to $1.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow IBERIABANK.
IBERIABANK (NASDAQ:IBKC) last released its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.13). IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The firm had revenue of $270.19 million during the quarter, compared to the consensus estimate of $276.02 million. During the same period in the prior year, the business posted $1.08 earnings per share. IBERIABANK’s quarterly revenue was up 21.0% compared to the same quarter last year.
IBERIABANK (NASDAQ IBKC) opened at $77.75 on Friday. IBERIABANK has a 12-month low of $68.55 and a 12-month high of $91.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. The stock has a market capitalization of $4,270.00, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.37.
In related news, Director Ernest P. Breaux, Jr. sold 5,000 shares of IBERIABANK 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 completion of the sale, the director now owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the sale, the insider now directly owns 57,886 shares of the company’s stock, valued at approximately $4,297,456.64. 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 stock. Aperio Group LLC raised its holdings in shares of IBERIABANK by 33.4% in the second quarter. Aperio Group LLC now owns 3,611 shares of the bank’s stock valued at $294,000 after buying an additional 905 shares during the last quarter. US Bancorp DE raised its holdings in shares of IBERIABANK by 45.4% in the second quarter. US Bancorp DE now owns 4,146 shares of the bank’s stock valued at $338,000 after buying an additional 1,295 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of IBERIABANK by 19.4% in the second quarter. Russell Investments Group Ltd. now owns 325,167 shares of the bank’s stock valued at $26,502,000 after buying an additional 52,733 shares during the last quarter. Rothschild Asset Management Inc. purchased a new position in IBERIABANK during the second quarter worth about $36,923,000. Finally, Sei Investments Co. raised its holdings in IBERIABANK by 1,910.3% during the second quarter. Sei Investments Co. now owns 79,911 shares of the bank’s stock worth $6,513,000 after purchasing an additional 75,936 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Zacks: Brokerages Expect IBERIABANK Corp (IBKC) Will Announce Quarterly Sales of $286.28 Million” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.americanbankingnews.com/2017/12/01/zacks-brokerages-expect-iberiabank-corp-ibkc-will-announce-quarterly-sales-of-286-28-million.html.
IBERIABANK 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for IBERIABANK Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK Corp and related companies with MarketBeat.com's FREE daily email newsletter.