IBERIABANK Corp (NASDAQ:IBKC) – Equities research analysts at Jefferies Financial Group raised their Q2 2019 earnings per share estimates for shares of IBERIABANK in a research note issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Haire now forecasts that the bank will post earnings per share of $1.83 for the quarter, up from their prior forecast of $1.80. Jefferies Financial Group also issued estimates for IBERIABANK’s FY2020 earnings at $7.10 EPS.
Other analysts have also recently issued research reports about the company. Stephens set a $100.00 price target on Cullen/Frost Bankers and gave the company a “hold” rating in a report on Friday, April 26th. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine cut Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. Finally, BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $86.25.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, April 25th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.08. IBERIABANK had a return on equity of 10.34% and a net margin of 28.29%. The firm had revenue of $302.99 million for the quarter, compared to analysts’ expectations of $304.28 million. During the same quarter last year, the firm posted $1.37 EPS.
Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in IBERIABANK by 20.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,892 shares of the bank’s stock worth $122,000 after purchasing an additional 319 shares during the period. Hodges Capital Management Inc. bought a new stake in shares of IBERIABANK in the 1st quarter worth approximately $215,000. Starr International Co. Inc. bought a new stake in shares of IBERIABANK in the 1st quarter worth approximately $231,000. Lido Advisors LLC grew its position in shares of IBERIABANK by 17.9% in the 4th quarter. Lido Advisors LLC now owns 3,886 shares of the bank’s stock worth $251,000 after buying an additional 590 shares during the last quarter. Finally, Cerebellum GP LLC grew its position in shares of IBERIABANK by 16.4% in the 1st quarter. Cerebellum GP LLC now owns 4,622 shares of the bank’s stock worth $331,000 after buying an additional 652 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director John E. Koerner III acquired 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $74.81 per share, with a total value of $972,530.00. Following the acquisition, the director now owns 7,800 shares in the company, valued at approximately $583,518. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry V. Barton, Jr. sold 6,812 shares of IBERIABANK stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $74.47, for a total value of $507,289.64. Following the completion of the transaction, the director now directly owns 29,158 shares in the company, valued at $2,171,396.26. The disclosure for this sale can be found here. Company insiders own 2.65% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.23%. IBERIABANK’s dividend payout ratio is 25.71%.
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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