IBERIABANK Corporation (NASDAQ:IBKC) had its target price decreased by SunTrust Banks, Inc. to $80.00 in a research report report published on Wednesday, October 25th. SunTrust Banks, Inc. currently has a hold rating on the bank’s stock. SunTrust Banks also issued estimates for IBERIABANK Corporation’s Q4 2017 earnings at $1.26 EPS, FY2017 earnings at $4.39 EPS, Q1 2018 earnings at $1.24 EPS, Q2 2018 earnings at $1.42 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.60 EPS, FY2018 earnings at $5.74 EPS and FY2019 earnings at $6.33 EPS.
Several other equities analysts also recently commented on IBKC. ValuEngine upgraded shares of IBERIABANK Corporation from a hold rating to a buy rating in a research note on Tuesday, September 26th. Zacks Investment Research raised shares of IBERIABANK Corporation from a hold rating to a buy rating and set a $89.00 price objective for the company in a research report on Thursday, September 28th. Piper Jaffray Companies raised shares of IBERIABANK Corporation from a neutral rating to an overweight rating and set a $89.00 price target for the company in a research report on Tuesday, August 15th. BidaskClub cut shares of IBERIABANK Corporation from a sell rating to a strong sell rating in a research report on Saturday, August 19th. Finally, Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a buy rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $89.27.
IBERIABANK Corporation (IBKC) traded up $0.05 on Wednesday, reaching $70.70. 285,900 shares of the company’s stock were exchanged, compared to its average volume of 440,111. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. IBERIABANK Corporation has a twelve month low of $69.60 and a twelve month high of $91.10. The stock has a market cap of $3,860.00, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.37.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). The company had revenue of $270.19 million during the quarter, compared to analyst estimates of $276.02 million. IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.57%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. sell-side analysts forecast that IBERIABANK Corporation will post 4.3 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Thursday, September 28th. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio is 41.93%.
In related news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the transaction, the director now owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.52% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in IBKC. Nations Financial Group Inc. IA ADV raised its stake in IBERIABANK Corporation by 0.4% during the second quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock worth $260,000 after purchasing an additional 14 shares during the period. PNC Financial Services Group Inc. raised its stake in IBERIABANK Corporation by 0.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after purchasing an additional 20 shares during the period. IFP Advisors Inc raised its stake in IBERIABANK Corporation by 0.7% during the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after purchasing an additional 20 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in IBERIABANK Corporation by 0.6% during the second quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after purchasing an additional 52 shares during the period. Finally, Commerce Bank raised its stake in IBERIABANK Corporation by 1.0% during the second quarter. Commerce Bank now owns 6,015 shares of the bank’s stock worth $490,000 after purchasing an additional 60 shares during the period. 80.60% of the stock is currently owned by institutional investors and hedge funds.
IBERIABANK Corporation 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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