IBERIABANK Corp (IBKC) Forecasted to Earn FY2017 Earnings of $3.64 Per Share
IBERIABANK Corp (NASDAQ:IBKC) – Stock analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for shares of IBERIABANK in a research note issued to investors on Tuesday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $3.64 for the year, up from their previous estimate of $3.63. Jefferies Group currently has a “Buy” rating and a $94.00 target price on the stock. Jefferies Group also issued estimates for IBERIABANK’s Q1 2018 earnings at $1.37 EPS, Q2 2018 earnings at $1.54 EPS, Q3 2018 earnings at $1.64 EPS and Q4 2018 earnings at $1.71 EPS.
IBERIABANK (NASDAQ:IBKC) last announced its quarterly 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 return on equity of 6.57% and a net margin of 17.14%. The business had revenue of $270.19 million during the quarter, compared to the consensus estimate of $276.02 million. During the same quarter in the prior year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis.
Shares of IBERIABANK (NASDAQ:IBKC) opened at $81.55 on Friday. IBERIABANK has a 1 year low of $68.55 and a 1 year high of $86.40. The firm has a market cap of $4,310.00, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.75 and a beta of 1.37. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is 43.27%.
In related news, Director William H. Fenstermaker bought 2,500 shares of the stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of $71.81 per share, with a total value of $179,525.00. Following the completion of the purchase, the director now owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John R. Davis sold 3,263 shares of the business’s stock in a transaction 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 directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The disclosure for this sale can be found here. Insiders own 2.52% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of IBKC. Schwab Charles Investment Management Inc. boosted its stake in shares of IBERIABANK by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 252,895 shares of the bank’s stock valued at $20,611,000 after purchasing an additional 11,888 shares during the period. Legal & General Group Plc boosted its stake in shares of IBERIABANK by 2.0% during the second quarter. Legal & General Group Plc now owns 30,457 shares of the bank’s stock valued at $2,482,000 after purchasing an additional 607 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $174,000 after purchasing an additional 234 shares during the period. Swiss National Bank boosted its stake in shares of IBERIABANK by 1.2% during the second quarter. Swiss National Bank now owns 84,923 shares of the bank’s stock valued at $6,921,000 after purchasing an additional 1,000 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of IBERIABANK by 41.6% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,087 shares of the bank’s stock valued at $741,000 after purchasing an additional 2,670 shares during the period. 80.39% of the stock is owned by hedge funds and other institutional investors.
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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.
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