IBERIABANK Corp (IBKC) Expected to Announce Quarterly Sales of $284.25 Million

Wall Street brokerages predict that IBERIABANK Corp (NASDAQ:IBKC) will announce sales of $284.25 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for IBERIABANK’s earnings, with estimates ranging from $281.20 million to $288.00 million. IBERIABANK posted sales of $214.90 million in the same quarter last year, which indicates a positive year over year growth rate of 32.3%. The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, January 25th.

On average, analysts expect that IBERIABANK will report full-year sales of $284.25 million for the current financial year, with estimates ranging from $1.01 billion to $1.02 billion. For the next fiscal year, analysts expect that the company will report sales of $1.22 billion per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of 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 (EPS) 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 for the quarter, compared to analysts’ expectations of $276.02 million. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year.

IBKC has been the subject of several research analyst reports. SunTrust Banks upgraded IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Zacks Investment Research upgraded IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Thursday, September 28th. ValuEngine upgraded IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Jefferies Group upgraded IBERIABANK from a “hold” rating to a “buy” rating and increased their target price for the stock from $89.00 to $94.00 in a research report on Monday, October 9th. Finally, BidaskClub upgraded IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.27.

IBERIABANK (NASDAQ:IBKC) traded up $1.10 during trading hours on Monday, hitting $83.05. The company had a trading volume of 222,200 shares, compared to its average volume of 403,954. 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 has a 12-month low of $68.55 and a 12-month high of $86.40. The stock has a market capitalization of $4,470.00, a PE ratio of 24.28, a P/E/G ratio of 1.70 and a beta of 1.37.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s payout ratio is presently 43.27%.

In related news, insider John R. Davis sold 3,263 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William H. Fenstermaker acquired 2,500 shares of the stock in a transaction dated Friday, November 17th. The stock was bought 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 directly owns 43,242 shares in the company, valued at $3,105,208.02. The disclosure for this purchase can be found here. 2.52% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of IBERIABANK by 7.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 294,566 shares of the bank’s stock valued at $22,829,000 after purchasing an additional 19,880 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of IBERIABANK by 139.9% in the 4th quarter. Bank of Montreal Can now owns 3,076 shares of the bank’s stock valued at $239,000 after purchasing an additional 1,794 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of IBERIABANK in the 3rd quarter valued at approximately $1,021,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of IBERIABANK in the 3rd quarter valued at approximately $2,300,000. Finally, Jacobs Asset Management LLC lifted its stake in shares of IBERIABANK by 16.4% in the 3rd quarter. Jacobs Asset Management LLC now owns 160,000 shares of the bank’s stock valued at $13,144,000 after purchasing an additional 22,500 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for IBERIABANK (NASDAQ:IBKC)

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