BidaskClub Lowers IBERIABANK (IBKC) to Hold

IBERIABANK (NASDAQ:IBKC) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other research analysts have also issued research reports about the stock. SunTrust Banks raised shares of IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Jefferies Group raised shares of IBERIABANK from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Thursday, September 28th. Stephens lowered shares of IBERIABANK from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 20th. Finally, ValuEngine lowered shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $89.27.

Shares of IBERIABANK (NASDAQ:IBKC) opened at $87.00 on Thursday. IBERIABANK has a 1 year low of $68.55 and a 1 year high of $87.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91. The company has a market cap of $4,419.96, a P/E ratio of 32.83, a PEG ratio of 1.68 and a beta of 1.37.

IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.07. IBERIABANK had a net margin of 12.66% and a return on equity of 6.92%. The business had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. During the same quarter last year, the firm earned $1.16 EPS. IBERIABANK’s quarterly revenue was up 35.0% compared to the same quarter last year. research analysts expect that IBERIABANK will post 6.1 earnings per share for the current year.

In other IBERIABANK 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 value of $242,245.12. Following the transaction, the insider now owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Fenstermaker purchased 2,500 shares of the business’s stock in a transaction on Friday, November 17th. The stock was bought at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the purchase, the director now owns 43,242 shares of the company’s stock, 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.

Hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of IBERIABANK in the third quarter worth $107,000. Cerebellum GP LLC bought a new stake in shares of IBERIABANK in the fourth quarter worth $128,000. Cubist Systematic Strategies LLC bought a new stake in shares of IBERIABANK in the second quarter worth $183,000. Nomura Holdings Inc. bought a new stake in shares of IBERIABANK in the second quarter worth $205,000. Finally, Bank of Montreal Can lifted its position in shares of IBERIABANK by 139.9% in the fourth quarter. Bank of Montreal Can now owns 3,076 shares of the bank’s stock worth $239,000 after purchasing an additional 1,794 shares in the last quarter. 80.40% of the stock is currently 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.

Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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