IBERIABANK (NASDAQ:IBKC) was downgraded by analysts at Iberia Capital from a “strong-buy” rating to an “outperform” rating in a research note issued to investors on Wednesday.
A number of other research analysts have also recently weighed in on IBKC. ValuEngine upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Thursday, September 28th. Piper Jaffray Companies restated an “overweight” rating and set a $89.00 target price on shares of IBERIABANK in a research note on Thursday, October 5th. Jefferies Group upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and lifted their target price for the company from $89.00 to $94.00 in a research note on Monday, October 9th. Finally, Hovde Group cut shares of IBERIABANK from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $88.00 to $82.00 in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. IBERIABANK currently has a consensus rating of “Hold” and a consensus price target of $89.27.
IBERIABANK (NASDAQ:IBKC) traded down $0.25 on Wednesday, hitting $78.45. 1,199,774 shares of the company were exchanged, compared to its average volume of 447,538. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91. IBERIABANK has a 52 week low of $68.55 and a 52 week high of $87.30. The stock has a market cap of $4,269.21, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37.
In other IBERIABANK news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total value of $390,900.00. Following the sale, the director now owns 27,963 shares in the company, valued at approximately $2,186,147.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Fenstermaker purchased 2,500 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was bought at an average price of $71.81 per share, for a total transaction of $179,525.00. Following the purchase, the director now 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 owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its holdings in shares of IBERIABANK by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after buying an additional 213 shares during the last quarter. BB&T Corp bought a new stake in shares of IBERIABANK in the 3rd quarter worth about $277,000. Prudential Financial Inc. increased its holdings in shares of IBERIABANK by 49.7% in the 2nd quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock worth $19,431,000 after buying an additional 79,178 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of IBERIABANK in the 3rd quarter worth about $14,888,000. Finally, Rhumbline Advisers increased its holdings in shares of IBERIABANK by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock worth $5,303,000 after buying an additional 4,205 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.
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About IBERIABANK
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.
