IBERIABANK Corporation (NASDAQ:IBKC)‘s stock had its “overweight” rating reissued by equities researchers at Piper Jaffray Companies in a research report issued on Thursday, October 5th, Marketbeat.com reports. They currently have a $89.00 target price on the bank’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 11.88% from the stock’s previous close.
IBKC has been the subject of several other reports. BidaskClub upgraded IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Stephens set a $95.00 price target on IBERIABANK Corporation and gave the company a “buy” rating in a report on Saturday, July 22nd. Zacks Investment Research upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, July 3rd. Finally, JMP Securities raised their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $90.82.
IBERIABANK Corporation (IBKC) traded up 0.974% during trading on Thursday, reaching $80.325. The company had a trading volume of 137,713 shares. IBERIABANK Corporation has a 52 week low of $62.66 and a 52 week high of $91.10. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 19.572 and a beta of 1.32. The company’s 50-day moving average is $78.13 and its 200 day moving average is $79.21.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.02). The firm had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. Equities analysts anticipate that IBERIABANK Corporation will post $4.62 EPS for the current year.
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In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.12, for a total value of $492,016.92. Following the transaction, the insider now owns 60,553 shares in the company, valued at $4,851,506.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the completion of the transaction, the director now directly owns 27,963 shares of the company’s stock, valued at approximately $2,186,147.34. The disclosure for this sale can be found here. 2.52% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of IBERIABANK Corporation by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after buying an additional 234 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of IBERIABANK Corporation in the 2nd quarter valued at $183,000. Nomura Holdings Inc. acquired a new stake in shares of IBERIABANK Corporation in the 2nd quarter valued at $205,000. Karp Capital Management Corp acquired a new stake in shares of IBERIABANK Corporation in the 1st quarter valued at $214,000. Finally, Stephens Inc. AR acquired a new stake in shares of IBERIABANK Corporation in the 1st quarter valued at $214,000. 81.10% of the stock is owned by institutional investors.
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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