IBERIABANK Corp (NASDAQ:IBKC) has been given an average rating of “Buy” by the eleven ratings firms that are presently covering the stock. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $79.17.
Several brokerages recently commented on IBKC. Keefe, Bruyette & Woods set a $90.00 price target on shares of IBERIABANK Corp and gave the company a “buy” rating in a research report on Monday, April 3rd. JMP Securities upgraded shares of IBERIABANK Corp from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research report on Friday, March 10th. Zacks Investment Research downgraded shares of IBERIABANK Corp from a “buy” rating to a “hold” rating in a research report on Saturday, March 4th. Finally, Piper Jaffray Companies downgraded shares of IBERIABANK Corp from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $89.00 in a research report on Wednesday, March 1st.
In related news, EVP Haddon Spurgeon Mackie, Jr. sold 1,490 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $79.93, for a total value of $119,095.70. Following the transaction, the executive vice president now directly owns 13,912 shares in the company, valued at approximately $1,111,986.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.17% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of IBERIABANK Corp by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 1,199,591 shares of the bank’s stock worth $80,517,000 after buying an additional 175,199 shares during the period. BlackRock Investment Management LLC increased its stake in shares of IBERIABANK Corp by 0.6% in the third quarter. BlackRock Investment Management LLC now owns 178,055 shares of the bank’s stock worth $11,951,000 after buying an additional 994 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of IBERIABANK Corp by 8.8% in the third quarter. Bank of New York Mellon Corp now owns 795,706 shares of the bank’s stock worth $53,407,000 after buying an additional 64,282 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of IBERIABANK Corp by 23.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 18,013 shares of the bank’s stock worth $1,509,000 after buying an additional 3,452 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of IBERIABANK Corp during the third quarter worth $3,292,000. 75.99% of the stock is owned by hedge funds and other institutional investors.
Shares of IBERIABANK Corp (NASDAQ:IBKC) traded down 0.160% during trading on Wednesday, hitting $77.875. The stock had a trading volume of 224,507 shares. The stock’s 50-day moving average is $78.60 and its 200-day moving average is $79.03. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 18.098 and a beta of 1.22. IBERIABANK Corp has a 12-month low of $55.15 and a 12-month high of $91.10.
IBERIABANK Corp (NASDAQ:IBKC) last released its earnings results on Thursday, January 26th. The bank reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. IBERIABANK Corp had a net margin of 19.65% and a return on equity of 7.65%. The business earned $214.90 million during the quarter, compared to analyst estimates of $224.65 million. On average, equities research analysts expect that IBERIABANK Corp will post $4.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be paid a $0.36 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $1.44 dividend on an annualized basis and a yield of 1.85%. IBERIABANK Corp’s payout ratio is presently 33.49%.
IBERIABANK Corp Company Profile
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.
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