Shares of IBERIABANK Corp (NASDAQ:IBKC) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $80.67.
Several equities research analysts recently issued reports on IBKC shares. ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Keefe, Bruyette & Woods downgraded shares of IBERIABANK from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $85.00 to $87.00 in a research note on Thursday, November 7th. BidaskClub downgraded shares of IBERIABANK from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 8th. Finally, Sandler O’Neill downgraded shares of IBERIABANK from a “buy” rating to a “hold” rating and dropped their price target for the stock from $86.00 to $76.00 in a research note on Tuesday, October 22nd.
In other IBERIABANK news, EVP Robert M. Kottler sold 19,438 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.16, for a total transaction of $1,441,522.08. Following the completion of the transaction, the executive vice president now directly owns 31,973 shares of the company’s stock, valued at approximately $2,371,117.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.65% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in IBKC. D. E. Shaw & Co. Inc. boosted its holdings in shares of IBERIABANK by 41.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 183,441 shares of the bank’s stock valued at $13,914,000 after buying an additional 53,863 shares during the period. Stifel Financial Corp boosted its holdings in shares of IBERIABANK by 45.2% in the 3rd quarter. Stifel Financial Corp now owns 190,509 shares of the bank’s stock valued at $14,401,000 after buying an additional 59,295 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of IBERIABANK in the 3rd quarter valued at about $944,000. California Public Employees Retirement System boosted its holdings in shares of IBERIABANK by 32.9% in the 3rd quarter. California Public Employees Retirement System now owns 143,405 shares of the bank’s stock valued at $10,833,000 after buying an additional 35,464 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of IBERIABANK by 123.1% in the 2nd quarter. Invesco Ltd. now owns 771,501 shares of the bank’s stock valued at $58,518,000 after buying an additional 425,644 shares during the period. 84.64% of the stock is owned by institutional investors.
IBERIABANK stock opened at $74.46 on Wednesday. IBERIABANK has a 12-month low of $66.55 and a 12-month high of $81.86. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.97 and a quick ratio of 0.96. The firm’s fifty day moving average price is $73.97 and its 200 day moving average price is $73.98.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Friday, October 18th. The bank reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.03. IBERIABANK had a net margin of 28.75% and a return on equity of 10.11%. The firm had revenue of $313.01 million for the quarter, compared to the consensus estimate of $312.94 million. During the same quarter in the previous year, the firm posted $1.74 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts forecast that IBERIABANK will post 7.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.42%. The ex-dividend date is Monday, December 30th. IBERIABANK’s dividend payout ratio is currently 26.91%.
About IBERIABANK
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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