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.
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.
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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