$313.42 Million in Sales Expected for IBERIABANK Corp (NASDAQ:IBKC) This Quarter

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Brokerages forecast that IBERIABANK Corp (NASDAQ:IBKC) will report $313.42 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for IBERIABANK’s earnings, with estimates ranging from $310.60 million to $318.10 million. IBERIABANK reported sales of $312.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.4%. The business is scheduled to report its next earnings report before the market opens on Friday, October 18th.

On average, analysts expect that IBERIABANK will report full year sales of $1.24 billion for the current year, with estimates ranging from $1.23 billion to $1.25 billion. For the next year, analysts anticipate that the company will post sales of $1.26 billion, with estimates ranging from $1.23 billion to $1.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover IBERIABANK.

IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Friday, July 19th. The bank reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.05. The company had revenue of $315.18 million during the quarter, compared to the consensus estimate of $313.34 million. IBERIABANK had a net margin of 29.38% and a return on equity of 10.33%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Saturday, September 28th. SunTrust Banks lowered their price target on shares of IBERIABANK to $86.00 and set a “buy” rating for the company in a report on Monday, July 22nd. BidaskClub upgraded shares of IBERIABANK from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 17th. Stephens set a $89.00 price target on shares of IBERIABANK and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, ValuEngine upgraded shares of IBERIABANK from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $86.00.

Shares of NASDAQ:IBKC traded up $1.18 during trading on Friday, hitting $74.51. 306,449 shares of the company were exchanged, compared to its average volume of 325,222. The business’s 50 day moving average is $72.73 and its 200-day moving average is $74.60. The company has a market capitalization of $3.78 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.26 and a beta of 1.56. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. IBERIABANK has a 1-year low of $60.82 and a 1-year high of $81.86.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a $0.45 dividend. This is a boost from IBERIABANK’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. IBERIABANK’s payout ratio is currently 26.91%.

In other IBERIABANK news, CEO Daryl G. Byrd sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.44, for a total transaction of $422,640.00. Following the sale, the chief executive officer now owns 254,281 shares of the company’s stock, valued at $17,911,553.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth A. Ardoin sold 4,300 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $77.96, for a total transaction of $335,228.00. Following the sale, the executive vice president now directly owns 39,435 shares in the company, valued at approximately $3,074,352.60. The disclosure for this sale can be found here. In the last three months, insiders sold 34,050 shares of company stock worth $2,584,943. 2.65% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors boosted its position in IBERIABANK by 43.8% during the second quarter. Captrust Financial Advisors now owns 509 shares of the bank’s stock valued at $39,000 after acquiring an additional 155 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in IBERIABANK by 38.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 726 shares of the bank’s stock valued at $55,000 after acquiring an additional 203 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in IBERIABANK during the second quarter valued at $64,000. Advisor Group Inc. boosted its position in IBERIABANK by 7.0% during the second quarter. Advisor Group Inc. now owns 2,754 shares of the bank’s stock valued at $209,000 after acquiring an additional 180 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in IBERIABANK during the second quarter valued at $237,000. 84.87% of the stock is currently owned by institutional investors and hedge funds.

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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