IBERIABANK (NASDAQ:IBKC) Lowered to Market Perform at Keefe, Bruyette & Woods

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Keefe, Bruyette & Woods downgraded shares of IBERIABANK (NASDAQ:IBKC) from an outperform rating to a market perform rating in a research note released on Thursday morning, Briefing.com Automated Import reports. They currently have $87.00 price objective on the bank’s stock, up from their previous price objective of $85.00.

Other equities research analysts also recently issued research reports about the stock. Stephens set a $83.00 price objective on shares of IBERIABANK and gave the stock a buy rating in a report on Friday, October 18th. Zacks Investment Research raised shares of IBERIABANK from a sell rating to a hold rating in a report on Tuesday, October 22nd. ValuEngine raised shares of IBERIABANK from a sell rating to a hold rating in a report on Friday, November 1st. SunTrust Banks set a $80.00 price objective on shares of IBERIABANK and gave the stock a buy rating in a report on Friday, October 18th. Finally, BidaskClub raised shares of IBERIABANK from a strong sell rating to a sell rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $83.00.

Shares of NASDAQ:IBKC traded up $0.25 during midday trading on Thursday, reaching $76.95. The company had a trading volume of 622,900 shares, compared to its average volume of 340,046. The stock has a market capitalization of $4.12 billion, a P/E ratio of 11.50, a PEG ratio of 1.37 and a beta of 1.53. The stock’s fifty day moving average price is $74.83 and its 200-day moving average price is $74.75. IBERIABANK has a one year low of $60.82 and a one year high of $81.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.95.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, October 18th. The bank reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.03. The business had revenue of $313.01 million during the quarter, compared to the consensus estimate of $312.94 million. IBERIABANK had a net margin of 28.75% and a return on equity of 10.16%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.74 earnings per share. As a group, sell-side analysts forecast that IBERIABANK will post 7.12 earnings per share for the current year.

In other IBERIABANK news, CEO Daryl G. Byrd sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.44, for a total value of $422,640.00. Following the sale, the chief executive officer now directly owns 254,281 shares in the company, valued at $17,911,553.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.65% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors raised its holdings in IBERIABANK by 43.8% during the 2nd quarter. Captrust Financial Advisors now owns 509 shares of the bank’s stock worth $39,000 after buying an additional 155 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in IBERIABANK by 38.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 726 shares of the bank’s stock worth $55,000 after buying an additional 203 shares during the period. Tower Research Capital LLC TRC acquired a new stake in IBERIABANK during the 3rd quarter worth about $62,000. Steward Partners Investment Advisory LLC acquired a new stake in IBERIABANK during the 2nd quarter worth about $64,000. Finally, Gamco Investors INC. ET AL acquired a new stake in IBERIABANK during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 85.23% 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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Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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