IBERIABANK Corp (NASDAQ:IBKC) – Equities research analysts at SunTrust Banks raised their Q2 2018 earnings estimates for shares of IBERIABANK in a research note issued on Monday. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings of $1.61 per share for the quarter, up from their previous estimate of $1.40. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for IBERIABANK’s Q3 2018 earnings at $1.64 EPS, Q4 2018 earnings at $1.67 EPS, FY2018 earnings at $6.38 EPS and FY2019 earnings at $7.28 EPS.
Several other research analysts also recently issued reports on the company. Zacks Investment Research raised IBERIABANK from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Raymond James Financial reissued an “outperform” rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Iberia Capital downgraded shares of IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, December 20th. Hovde Group downgraded shares of IBERIABANK from an “outperform” rating to a “market perform” rating and cut their target price for the company from $88.00 to $82.00 in a research note on Monday, October 23rd. Finally, Robert W. Baird downgraded shares of IBERIABANK from an “outperform” rating to a “neutral” rating and cut their target price for the company from $97.00 to $78.00 in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. IBERIABANK has an average rating of “Buy” and an average price target of $89.27.
IBERIABANK (NASDAQ:IBKC) last released its quarterly 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 firm had revenue of $270.19 million for the quarter, compared to analyst estimates of $276.02 million. IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS.
Several large investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of IBERIABANK during the 3rd quarter worth about $1,021,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of IBERIABANK during the 3rd quarter worth about $2,300,000. Jacobs Asset Management LLC grew its holdings in shares of IBERIABANK by 16.4% during the 3rd quarter. Jacobs Asset Management LLC now owns 160,000 shares of the bank’s stock worth $13,144,000 after purchasing an additional 22,500 shares during the period. Maltese Capital Management LLC grew its holdings in shares of IBERIABANK by 18.8% during the 3rd quarter. Maltese Capital Management LLC now owns 237,500 shares of the bank’s stock worth $19,511,000 after purchasing an additional 37,500 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of IBERIABANK by 6.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 222,059 shares of the bank’s stock worth $18,242,000 after purchasing an additional 13,750 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.
In other IBERIABANK news, Director William H. Fenstermaker purchased 2,500 shares of the stock in a transaction on Friday, November 17th. The stock was bought at an average price of $71.81 per share, for a total transaction of $179,525.00. Following the acquisition, the director now directly owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Davis sold 3,263 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value 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 disclosure for this sale can be found here. 2.52% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is 43.27%.
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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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