Zacks: Brokerages Expect IBERIABANK Corp (IBKC) to Announce $1.77 EPS

Wall Street brokerages forecast that IBERIABANK Corp (NASDAQ:IBKC) will report $1.77 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for IBERIABANK’s earnings. The lowest EPS estimate is $1.71 and the highest is $1.90. IBERIABANK reported earnings per share of $1.33 in the same quarter last year, which suggests a positive year over year growth rate of 33.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, January 24th.

According to Zacks, analysts expect that IBERIABANK will report full-year earnings of $6.60 per share for the current fiscal year, with EPS estimates ranging from $6.54 to $6.73. For the next financial year, analysts expect that the firm will report earnings of $7.19 per share, with EPS estimates ranging from $6.95 to $7.55. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for IBERIABANK.

IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Friday, October 19th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.06. The firm had revenue of $312.30 million during the quarter, compared to analyst estimates of $311.77 million. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS.

Several analysts have recently weighed in on the stock. BidaskClub lowered shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 6th. ValuEngine lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Hovde Group upgraded shares of IBERIABANK from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $82.00 to $86.00 in a research note on Friday, November 16th. Finally, Stephens set a $91.00 price target on shares of IBERIABANK and gave the company a “hold” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. IBERIABANK currently has a consensus rating of “Hold” and an average price target of $86.25.

Shares of NASDAQ:IBKC traded up $0.45 during mid-day trading on Friday, hitting $71.62. The company had a trading volume of 424,671 shares, compared to its average volume of 288,066. The firm has a market capitalization of $3.95 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.35 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. IBERIABANK has a one year low of $69.61 and a one year high of $87.55.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s payout ratio is 34.90%.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in IBERIABANK by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,910,522 shares of the bank’s stock valued at $399,471,000 after purchasing an additional 61,188 shares in the last quarter. BlackRock Inc. boosted its holdings in IBERIABANK by 13.4% during the 2nd quarter. BlackRock Inc. now owns 3,951,506 shares of the bank’s stock worth $299,525,000 after acquiring an additional 468,347 shares during the last quarter. Millennium Management LLC boosted its holdings in IBERIABANK by 25.2% during the 2nd quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock worth $172,607,000 after acquiring an additional 458,810 shares during the last quarter. FMR LLC boosted its holdings in IBERIABANK by 48.8% during the 2nd quarter. FMR LLC now owns 1,351,625 shares of the bank’s stock worth $102,453,000 after acquiring an additional 443,127 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in IBERIABANK by 30,291.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 650,068 shares of the bank’s stock worth $52,882,000 after acquiring an additional 647,929 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

IBERIABANK Company Profile

IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.

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Earnings History and Estimates for IBERIABANK (NASDAQ:IBKC)

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