IBERIABANK Corp Expected to Earn FY2017 Earnings of $3.64 Per Share (IBKC)

IBERIABANK Corp (NASDAQ:IBKC) – Jefferies Group upped their FY2017 earnings per share (EPS) estimates for shares of IBERIABANK in a report released on Tuesday. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $3.64 for the year, up from their previous forecast of $3.63. Jefferies Group has a “Buy” rating and a $94.00 price objective on the stock. Jefferies Group also issued estimates for IBERIABANK’s Q1 2018 earnings at $1.37 EPS, Q2 2018 earnings at $1.54 EPS, Q3 2018 earnings at $1.64 EPS and Q4 2018 earnings at $1.71 EPS.

IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Wednesday. Raymond James Financial restated an “outperform” rating on shares of IBERIABANK in a research report on Wednesday, December 20th. Iberia Capital lowered IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, December 20th. SunTrust Banks upgraded IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Finally, Hovde Group lowered IBERIABANK from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $88.00 to $82.00 in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. IBERIABANK currently has a consensus rating of “Buy” and a consensus price target of $89.27.

Shares of IBERIABANK (NASDAQ IBKC) opened at $82.45 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91. IBERIABANK has a 1 year low of $68.55 and a 1 year high of $86.40. The firm has a market capitalization of $4,393.11, a P/E ratio of 23.42, a P/E/G ratio of 1.66 and a beta of 1.37.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s payout ratio is 42.05%.

In other news, insider John R. Davis sold 3,263 shares of the business’s 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 completion of the transaction, the insider now owns 57,886 shares in the company, valued at $4,297,456.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Fenstermaker purchased 2,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was acquired at an average price of $71.81 per share, with a total value of $179,525.00. Following the purchase, the director now directly owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The disclosure for this purchase can be found here. 3.17% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC raised its stake in shares of IBERIABANK by 0.6% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after purchasing an additional 52 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of IBERIABANK by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after purchasing an additional 213 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of IBERIABANK by 12.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after purchasing an additional 234 shares during the last quarter. Stifel Financial Corp raised its stake in shares of IBERIABANK by 12.8% in the second quarter. Stifel Financial Corp now owns 3,444 shares of the bank’s stock worth $280,000 after purchasing an additional 392 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of IBERIABANK by 10.6% in the second quarter. Amalgamated Bank now owns 6,179 shares of the bank’s stock worth $504,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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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.

Earnings History and Estimates for IBERIABANK (NASDAQ:IBKC)

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