IBERIABANK Corp (NASDAQ:IBKC) – Equities researchers at Jefferies Group increased their FY2017 earnings per share estimates for shares of IBERIABANK in a note issued to investors on Tuesday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $3.64 per share for the year, up from their previous forecast of $3.63. Jefferies Group has a “Buy” rating and a $94.00 price target 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, January 25th. The bank reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. IBERIABANK had a return on equity of 6.92% and a net margin of 12.66%. The firm had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. During the same quarter last year, the company posted $1.16 earnings per share. The business’s revenue was up 35.0% on a year-over-year basis.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Wednesday, January 10th. Robert W. Baird lowered IBERIABANK from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $97.00 to $78.00 in a report on Monday, October 23rd. Iberia Capital lowered IBERIABANK from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, December 20th. SunTrust Banks raised IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. Finally, BidaskClub lowered IBERIABANK from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $89.82.
IBERIABANK (NASDAQ:IBKC) traded down $3.80 during midday trading on Friday, hitting $80.95. The company had a trading volume of 576,424 shares, compared to its average volume of 452,330. 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 52-week low of $68.55 and a 52-week high of $87.55. The stock has a market capitalization of $4,565.40, a price-to-earnings ratio of 30.55, a P/E/G ratio of 1.66 and a beta of 1.40.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, December 29th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, December 28th. IBERIABANK’s dividend payout ratio is presently 55.85%.
In other news, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 57,886 shares in the company, valued at approximately $4,297,456.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William H. Fenstermaker purchased 2,500 shares of IBERIABANK stock in a transaction dated Friday, November 17th. The shares were bought at an average price of $71.81 per share, with a total value of $179,525.00. Following the completion of the transaction, the director now owns 43,242 shares in the company, valued at approximately $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 have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of IBERIABANK by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,141,740 shares of the bank’s stock valued at $337,551,000 after acquiring an additional 52,383 shares during the period. State Street Corp lifted its position in shares of IBERIABANK by 20.2% during the 2nd quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after acquiring an additional 428,968 shares during the period. Northern Trust Corp lifted its position in shares of IBERIABANK by 18.0% during the 2nd quarter. Northern Trust Corp now owns 1,104,662 shares of the bank’s stock valued at $90,030,000 after acquiring an additional 168,174 shares during the period. Victory Capital Management Inc. lifted its position in shares of IBERIABANK by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,093,514 shares of the bank’s stock valued at $84,748,000 after acquiring an additional 236,669 shares during the period. Finally, FMR LLC lifted its position in shares of IBERIABANK by 25.9% during the 2nd quarter. FMR LLC now owns 724,652 shares of the bank’s stock valued at $59,059,000 after acquiring an additional 148,952 shares during the period. Institutional investors own 80.67% 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.
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