Wall Street analysts expect IBERIABANK Corp (NASDAQ:IBKC) to report earnings of $1.27 per share for the current quarter, Zacks reports. Five analysts have issued estimates for IBERIABANK’s earnings. The highest EPS estimate is $1.31 and the lowest is $1.23. IBERIABANK posted earnings of $1.16 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The firm is expected to announce its next quarterly earnings report on Thursday, January 25th.
On average, analysts expect that IBERIABANK will report full-year earnings of $4.25 per share for the current year, with EPS estimates ranging from $3.63 to $4.40. For the next fiscal year, analysts forecast that the company will report earnings of $5.56 per share, with EPS estimates ranging from $5.29 to $5.74. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for IBERIABANK.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.13). IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. The business had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. During the same period in the prior year, the business posted $1.08 earnings per share. IBERIABANK’s revenue was up 21.0% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised IBERIABANK from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Jefferies Group raised IBERIABANK from a “hold” rating to a “buy” rating and lifted their target price for the company from $89.00 to $94.00 in a research report on Monday, October 9th. ValuEngine lowered IBERIABANK from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $89.00 target price on shares of IBERIABANK in a research report on Thursday, October 5th. Finally, Stephens lowered IBERIABANK from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. IBERIABANK presently has a consensus rating of “Buy” and an average target price of $89.27.
In other news, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the transaction, the insider now directly owns 57,886 shares in the company, valued at approximately $4,297,456.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of IBERIABANK stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the transaction, the director now owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of IBERIABANK in the 3rd quarter valued at $1,021,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of IBERIABANK in the 3rd quarter valued at $2,300,000. Jacobs Asset Management LLC increased its holdings in shares of IBERIABANK by 16.4% in the 3rd quarter. Jacobs Asset Management LLC now owns 160,000 shares of the bank’s stock valued at $13,144,000 after acquiring an additional 22,500 shares during the period. Maltese Capital Management LLC increased its holdings in shares of IBERIABANK by 18.8% in the 3rd quarter. Maltese Capital Management LLC now owns 237,500 shares of the bank’s stock valued at $19,511,000 after acquiring an additional 37,500 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of IBERIABANK by 6.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 222,059 shares of the bank’s stock valued at $18,242,000 after acquiring an additional 13,750 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.
Shares of IBERIABANK (IBKC) traded up $2.25 during mid-day trading on Friday, hitting $78.70. The company had a trading volume of 1,192,746 shares, compared to its average volume of 433,852. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $87.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market cap of $4,239.57, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.31 and a beta of 1.37.
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IBERIABANK 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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