IBERIABANK (NASDAQ:IBKC) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.
A number of other equities research analysts also recently issued reports on the stock. Stephens set a $91.00 price target on shares of IBERIABANK and gave the company a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Tuesday, September 25th. ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Finally, Hovde Group raised shares of IBERIABANK from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $82.00 to $86.00 in a research note on Friday, November 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $86.25.
Shares of IBKC stock opened at $71.17 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. IBERIABANK has a 12 month low of $69.61 and a 12 month high of $87.55. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.34 and a beta of 1.34.
IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Friday, October 19th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.06. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The company had revenue of $312.30 million for the quarter, compared to the consensus estimate of $311.77 million. During the same period in the previous year, the firm earned $1.00 earnings per share. IBERIABANK’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, research analysts anticipate that IBERIABANK will post 6.59 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in IBKC. Aperio Group LLC lifted its stake in shares of IBERIABANK by 26.1% in the 2nd quarter. Aperio Group LLC now owns 4,388 shares of the bank’s stock valued at $333,000 after purchasing an additional 907 shares during the period. Comerica Bank lifted its stake in shares of IBERIABANK by 2.4% in the 2nd quarter. Comerica Bank now owns 61,699 shares of the bank’s stock valued at $4,689,000 after purchasing an additional 1,423 shares during the period. First Trust Advisors LP lifted its stake in shares of IBERIABANK by 23.5% in the 2nd quarter. First Trust Advisors LP now owns 89,472 shares of the bank’s stock valued at $6,782,000 after purchasing an additional 17,014 shares during the period. Victory Capital Management Inc. lifted its stake in shares of IBERIABANK by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,128,362 shares of the bank’s stock valued at $85,530,000 after purchasing an additional 24,478 shares during the period. Finally, NJ State Employees Deferred Compensation Plan lifted its stake in shares of IBERIABANK by 16.7% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 7,000 shares of the bank’s stock valued at $531,000 after purchasing an additional 1,000 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.
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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