IBERIABANK Corp (NASDAQ:IBKC) – Equities research analysts at Jefferies Group boosted their Q4 2017 earnings estimates for IBERIABANK in a research note issued to investors on Monday, Zacks Investment Research reports. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $1.29 per share for the quarter, up from their prior forecast of $1.28. Jefferies Group currently has a “Buy” rating and a $94.00 target price on the stock. Jefferies Group also issued estimates for IBERIABANK’s FY2018 earnings at $6.26 EPS and FY2019 earnings at $6.96 EPS.
Several other equities research analysts have also issued reports on IBKC. Piper Jaffray Companies set a $95.00 price objective on shares of IBERIABANK and gave the stock a “buy” rating in a research report on Monday. BidaskClub lowered shares of IBERIABANK from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Wednesday, January 10th. Raymond James Financial reissued an “outperform” rating on shares of IBERIABANK in a research report on Wednesday, December 20th. Finally, Iberia Capital lowered shares of IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $89.82.
IBERIABANK (IBKC) traded up $1.65 during trading hours on Wednesday, reaching $86.15. 411,440 shares of the company’s stock were exchanged, compared to its average volume of 453,856. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market capitalization of $4,554.63, a P/E ratio of 32.51, a P/E/G ratio of 1.70 and a beta of 1.37. IBERIABANK has a 12 month low of $68.55 and a 12 month high of $87.55.
IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. The company had revenue of $290.16 million for the quarter, compared to the consensus estimate of $285.17 million. IBERIABANK had a net margin of 12.66% and a return on equity of 6.92%. IBERIABANK’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, December 28th. IBERIABANK’s payout ratio is 55.85%.
In other news, Director William H. Fenstermaker purchased 2,500 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average cost of $71.81 per share, with a total value of $179,525.00. Following the acquisition, the director now owns 43,242 shares in the company, valued at $3,105,208.02. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John R. Davis sold 3,263 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new position in IBERIABANK during the 3rd quarter worth $107,000. Cerebellum GP LLC acquired a new position in IBERIABANK during the 4th quarter worth $128,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IBERIABANK by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after acquiring an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in IBERIABANK during the 2nd quarter worth $183,000. Finally, Nomura Holdings Inc. acquired a new position in IBERIABANK during the 2nd quarter worth $205,000. 80.71% of the stock is owned by institutional investors.
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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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