FIG Partners Analysts Increase Earnings Estimates for IBERIABANK Corp (IBKC)

IBERIABANK Corp (NASDAQ:IBKC) – Research analysts at FIG Partners raised their Q1 2018 earnings per share estimates for IBERIABANK in a research report issued to clients and investors on Wednesday. FIG Partners analyst C. Marinac now expects that the bank will earn $1.29 per share for the quarter, up from their prior forecast of $1.28. FIG Partners also issued estimates for IBERIABANK’s Q4 2018 earnings at $1.50 EPS.

IBERIABANK (NASDAQ:IBKC) last announced its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.13). The company had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS.

A number of other brokerages have also issued reports on IBKC. Zacks Investment Research upgraded IBERIABANK from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Jefferies Group upgraded IBERIABANK from a “hold” rating to a “buy” rating and lifted their price objective for the company from $89.00 to $94.00 in a research note on Monday, October 9th. ValuEngine lowered IBERIABANK from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Piper Jaffray Companies reiterated an “overweight” rating and set a $89.00 price objective on shares of IBERIABANK in a research note on Thursday, October 5th. Finally, Stephens lowered IBERIABANK from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $89.27.

Shares of IBERIABANK (NASDAQ:IBKC) opened at $79.35 on Monday. 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 firm has a market capitalization of $4,271.90, a price-to-earnings ratio of 22.54, a PEG ratio of 2.33 and a beta of 1.37. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $87.20.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s dividend payout ratio is currently 42.05%.

In other news, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now owns 57,886 shares of the company’s stock, valued at approximately $4,297,456.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Fenstermaker purchased 2,500 shares of IBERIABANK stock in a transaction dated Friday, November 17th. The shares were purchased at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the transaction, the director now owns 43,242 shares in the company, valued at approximately $3,105,208.02. The disclosure for this purchase can be found here. Insiders own 3.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in IBKC. Canada Pension Plan Investment Board acquired a new position in shares of IBERIABANK during the third quarter worth $107,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of IBERIABANK by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after purchasing an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in IBERIABANK in the second quarter valued at $183,000. Nomura Holdings Inc. acquired a new position in IBERIABANK in the second quarter valued at $205,000. Finally, Nations Financial Group Inc. IA ADV boosted its stake in IBERIABANK by 0.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock valued at $260,000 after acquiring an additional 14 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

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About IBERIABANK

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.

Earnings History and Estimates for IBERIABANK (NASDAQ:IBKC)

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