Iberiabank (NASDAQ:IBKC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
A number of other research analysts also recently issued reports on the company. Piper Jaffray set a $95.00 price objective on Iberiabank and gave the company a “buy” rating in a research note on Monday, January 29th. BidaskClub upgraded Iberiabank from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $89.27.
NASDAQ IBKC opened at $76.80 on Tuesday. The firm has a market capitalization of $4,127.42, a P/E ratio of 17.18, a P/E/G ratio of 1.49 and a beta of 1.41. 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.
Iberiabank (NASDAQ:IBKC) last announced its quarterly earnings data on Thursday, April 19th. The bank reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.05). The business had revenue of $277.50 million during the quarter, compared to the consensus estimate of $285.71 million. Iberiabank had a net margin of 12.96% and a return on equity of 7.53%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 EPS. equities analysts expect that Iberiabank will post 6.41 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Swiss National Bank grew its stake in shares of Iberiabank by 7.7% during the 4th quarter. Swiss National Bank now owns 91,423 shares of the bank’s stock worth $7,085,000 after acquiring an additional 6,500 shares during the period. Suntrust Banks Inc. bought a new position in shares of Iberiabank during the 4th quarter worth $487,000. Sun Life Financial INC bought a new position in shares of Iberiabank during the 4th quarter worth $791,000. State of Wisconsin Investment Board grew its stake in shares of Iberiabank by 6.6% during the 4th quarter. State of Wisconsin Investment Board now owns 130,100 shares of the bank’s stock worth $10,083,000 after acquiring an additional 8,100 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Iberiabank by 7.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 294,566 shares of the bank’s stock worth $22,829,000 after acquiring an additional 19,880 shares during the period. Institutional investors own 88.21% of the company’s stock.
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Iberiabank Company Profile
IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.
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