IBERIABANK (NASDAQ:IBKC) Lowered to “Outperform” at Iberia Capital

Iberia Capital downgraded shares of IBERIABANK (NASDAQ:IBKC) from a strong-buy rating to an outperform rating in a research note issued to investors on Wednesday, December 20th, MarketBeat reports.

A number of other brokerages have also commented on IBKC. ValuEngine upgraded IBERIABANK from a hold rating to a buy rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded IBERIABANK from a hold rating to a buy rating and set a $89.00 target price for the company in a research note on Thursday, September 28th. Piper Jaffray Companies reiterated an overweight rating and set a $89.00 price objective on shares of IBERIABANK in a research note on Thursday, October 5th. Jefferies Group upgraded IBERIABANK from a hold rating to a buy rating and increased their price objective for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. Finally, Hovde Group lowered IBERIABANK from an outperform rating to a market perform rating and dropped their price objective for the stock from $88.00 to $82.00 in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. IBERIABANK has a consensus rating of Buy and an average target price of $89.27.

Shares of IBERIABANK (NASDAQ IBKC) traded up $1.75 during trading on Wednesday, reaching $81.55. The company’s stock had a trading volume of 457,511 shares, compared to its average volume of 453,276. The company has a market capitalization of $4,310.00, a PE ratio of 23.85, a P/E/G ratio of 1.75 and a beta of 1.37. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $86.40.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.13). IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The business had revenue of $270.19 million during the quarter, compared to the consensus estimate of $276.02 million. During the same period in the prior year, the company posted $1.08 earnings per share. The firm’s revenue was up 21.0% compared to the same quarter last year. analysts expect that IBERIABANK will post 4.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is currently 43.27%.

In other news, insider John R. Davis sold 3,263 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William H. Fenstermaker purchased 2,500 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were acquired at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the transaction, the director now owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The disclosure for this purchase can be found here. 2.52% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBKC. Ameritas Investment Partners Inc. raised its position in IBERIABANK by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock valued at $362,000 after buying an additional 213 shares during the last quarter. BB&T Corp acquired a new stake in IBERIABANK in the 3rd quarter valued at approximately $277,000. Prudential Financial Inc. raised its position in IBERIABANK by 49.7% in the 2nd quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock valued at $19,431,000 after buying an additional 79,178 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in IBERIABANK in the 3rd quarter valued at approximately $14,888,000. Finally, Rhumbline Advisers raised its position in IBERIABANK by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock valued at $5,303,000 after buying an additional 4,205 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

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About IBERIABANK

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.

Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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