IBERIABANK Corp (IBKC) Given Consensus Recommendation of “Buy” by Analysts

IBERIABANK Corp (NASDAQ:IBKC) has been given a consensus rating of “Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $89.25.

IBKC has been the topic of a number of recent research reports. ValuEngine upgraded IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Stephens cut IBERIABANK from an “overweight” rating to an “equal weight” rating in a report on Friday, October 20th. Zacks Investment Research cut IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Raymond James Financial reiterated an “outperform” rating on shares of IBERIABANK in a report on Wednesday, December 20th. Finally, Hovde Group cut IBERIABANK from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $88.00 to $82.00 in a report on Monday, October 23rd.

In other news, insider John R. Davis sold 3,263 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William H. Fenstermaker bought 2,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were acquired at an average cost of $71.81 per share, with a total value of $179,525.00. Following the completion of the transaction, the director now owns 43,242 shares in the company, valued at $3,105,208.02. The disclosure for this purchase can be found here. 3.17% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in IBKC. Summit Financial Wealth Advisors LLC increased its holdings in IBERIABANK by 0.6% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after acquiring an additional 52 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in IBERIABANK by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after acquiring an additional 213 shares during the last quarter. Stifel Financial Corp increased its holdings in IBERIABANK by 12.8% in the 2nd quarter. Stifel Financial Corp now owns 3,444 shares of the bank’s stock worth $280,000 after acquiring an additional 392 shares during the last quarter. Amalgamated Bank increased its holdings in IBERIABANK by 10.6% in the 2nd quarter. Amalgamated Bank now owns 6,179 shares of the bank’s stock worth $504,000 after acquiring an additional 590 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in IBERIABANK by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 30,457 shares of the bank’s stock worth $2,482,000 after acquiring an additional 607 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

IBERIABANK (NASDAQ:IBKC) traded down $0.65 during trading on Friday, hitting $81.95. The company’s stock had a trading volume of 242,700 shares, compared to its average volume of 419,100. The company has a market cap of $4,410.00, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.37. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $86.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). The business had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. IBERIABANK’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. sell-side analysts expect that IBERIABANK will post 4.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is presently 43.27%.

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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.

Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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