IBERIABANK (NASDAQ:IBKC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
A number of other research firms have also issued reports on IBKC. Piper Jaffray Companies set a $95.00 target price on shares of IBERIABANK and gave the company a “buy” rating in a research note on Monday, January 29th. BidaskClub lowered shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Raymond James Financial reiterated an “outperform” rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Iberia Capital lowered shares of IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, December 20th. Finally, SunTrust Banks upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. IBERIABANK presently has a consensus rating of “Buy” and a consensus target price of $90.27.
IBERIABANK (NASDAQ:IBKC) opened at $82.60 on Tuesday. IBERIABANK has a 12 month low of $68.55 and a 12 month high of $87.55. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4,450.00, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.64 and a beta of 1.39.
IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.07. IBERIABANK had a net margin of 12.66% and a return on equity of 6.86%. The business had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. During the same period last year, the business posted $1.16 EPS. IBERIABANK’s revenue was up 35.0% compared to the same quarter last year. equities analysts anticipate that IBERIABANK will post 6.4 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new stake in IBERIABANK in the 3rd quarter valued at $107,000. Cerebellum GP LLC bought a new stake in IBERIABANK in the 4th quarter valued at $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in IBERIABANK by 41.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock valued at $233,000 after purchasing an additional 879 shares during the period. Bank of Montreal Can boosted its holdings in IBERIABANK by 139.9% in the 4th quarter. Bank of Montreal Can now owns 3,076 shares of the bank’s stock valued at $239,000 after purchasing an additional 1,794 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in IBERIABANK in the 3rd quarter valued at $361,000. 88.34% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Zacks Investment Research Downgrades IBERIABANK (IBKC) to Hold” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/03/15/zacks-investment-research-downgrades-iberiabank-ibkc-to-hold.html.
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.
Receive News & Ratings for IBERIABANK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK and related companies with MarketBeat.com's FREE daily email newsletter.