According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
IBKC has been the topic of several other reports. Iberia Capital upgraded Iberiabank Corp. from a market perform rating to an outperform rating and set a $64.00 price objective on the stock in a research note on Friday, August 26th. FBR & Co raised their price target on Iberiabank Corp. from $65.00 to $70.00 and gave the company an outperform rating in a research note on Friday, July 29th. Piper Jaffray Cos. upgraded Iberiabank Corp. from a neutral rating to an overweight rating and raised their price target for the company from $65.00 to $78.00 in a research note on Friday, October 7th. FIG Partners upgraded Iberiabank Corp. from a market perform rating to an outperform rating in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods raised their price target on Iberiabank Corp. from $62.00 to $67.00 and gave the company a market perform rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $66.50.
Shares of Iberiabank Corp. (NASDAQ:IBKC) traded down 0.48% during trading on Tuesday, hitting $70.33. The stock had a trading volume of 21,720 shares. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 16.37 and a beta of 1.10. Iberiabank Corp. has a 52-week low of $42.20 and a 52-week high of $71.50. The firm’s 50-day moving average is $68.02 and its 200 day moving average is $61.58.
Iberiabank Corp. (NASDAQ:IBKC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $227.70 million for the quarter, compared to analysts’ expectations of $224.83 million. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. On average, analysts expect that Iberiabank Corp. will post $4.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. Iberiabank Corp.’s payout ratio is 33.57%.
In related news, insider John R. Davis sold 8,560 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $68.02, for a total transaction of $582,251.20. Following the transaction, the insider now owns 57,264 shares of the company’s stock, valued at $3,895,097.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Elizabeth A. Ardoin sold 2,455 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $68.58, for a total value of $168,363.90. Following the transaction, the insider now directly owns 16,978 shares in the company, valued at approximately $1,164,351.24. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Iberiabank Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,783 shares of the company’s stock worth $106,000 after buying an additional 778 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Iberiabank Corp. by 7,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock worth $123,000 after buying an additional 2,030 shares in the last quarter. Advisor Group Inc. bought a new position in Iberiabank Corp. during the second quarter worth about $125,000. Johnson Financial Group Inc. raised its position in Iberiabank Corp. by 25.0% in the second quarter. Johnson Financial Group Inc. now owns 2,550 shares of the company’s stock worth $152,000 after buying an additional 510 shares in the last quarter. Finally, Sei Investments Co. raised its position in Iberiabank Corp. by 368.3% in the second quarter. Sei Investments Co. now owns 2,604 shares of the company’s stock worth $155,000 after buying an additional 2,048 shares in the last quarter. 81.47% of the stock is currently owned by hedge funds and other institutional investors.
About Iberiabank Corp.
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Iberiabank Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iberiabank Corp. and related companies with MarketBeat.com's FREE daily email newsletter.