Iberiabank Corp. (NASDAQ:IBKC) – Investment analysts at Jefferies Group decreased their Q3 2016 earnings estimates for shares of Iberiabank Corp. in a research note issued to investors on Tuesday. Jefferies Group analyst E. Harmon now anticipates that the firm will post earnings per share of $1.17 for the quarter, down from their previous forecast of $1.18. Jefferies Group also issued estimates for Iberiabank Corp.’s FY2016 earnings at $4.58 EPS and FY2017 earnings at $4.95 EPS.
A number of other analysts also recently commented on the company. FIG Partners upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, August 8th. Raymond James Financial Inc. upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research report on Thursday, August 25th. Iberia Capital upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 price objective for the company in a research report on Friday, October 7th. Sandler O’Neill reiterated a “hold” rating and issued a $72.00 price objective (up previously from $70.00) on shares of Iberiabank Corp. in a research report on Tuesday, September 13th. Finally, Piper Jaffray Cos. upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $65.00 to $78.00 in a research report on Friday, October 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $66.50.
Iberiabank Corp. (NASDAQ:IBKC) opened at 68.34 on Friday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 15.91 and a beta of 1.10. Iberiabank Corp. has a 12 month low of $42.20 and a 12 month high of $71.50. The firm’s 50-day moving average price is $68.12 and its 200-day moving average price is $61.80.
Iberiabank Corp. (NASDAQ:IBKC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The company earned $227.70 million during the quarter, compared to analyst estimates of $224.83 million. During the same quarter in the previous year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new stake in Iberiabank Corp. during the second quarter worth $29,246,000. Silvercrest Asset Management Group LLC boosted its stake in Iberiabank Corp. by 24.9% in the second quarter. Silvercrest Asset Management Group LLC now owns 2,328,302 shares of the company’s stock valued at $139,069,000 after buying an additional 463,720 shares during the period. Bank of New York Mellon Corp boosted its stake in Iberiabank Corp. by 152.0% in the second quarter. Bank of New York Mellon Corp now owns 731,424 shares of the company’s stock valued at $43,689,000 after buying an additional 441,224 shares during the period. JPMorgan Chase & Co. boosted its stake in Iberiabank Corp. by 50.1% in the first quarter. JPMorgan Chase & Co. now owns 973,023 shares of the company’s stock valued at $49,888,000 after buying an additional 324,737 shares during the period. Finally, Monarch Partners Asset Management LLC purchased a new stake in Iberiabank Corp. during the second quarter valued at approximately $19,021,000. 81.47% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John R. Davis sold 8,560 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $68.02, for a total transaction of $582,251.20. Following the completion of the sale, the insider now directly owns 57,264 shares of the company’s stock, valued at approximately $3,895,097.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth A. Ardoin sold 2,455 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $68.58, for a total value of $168,363.90. Following the sale, the insider now directly owns 16,978 shares of the company’s stock, valued at $1,164,351.24. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.11%. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, September 28th. Iberiabank Corp.’s dividend payout ratio (DPR) is currently 33.57%.
Iberiabank Corp. Company Profile
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.
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