ValuEngine Lowers IBERIABANK (IBKC) to Sell

IBERIABANK (NASDAQ:IBKC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other equities analysts also recently weighed in on the company. BidaskClub downgraded IBERIABANK from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 14th. Zacks Investment Research upgraded IBERIABANK from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, March 13th. Finally, Stephens lifted their target price on IBERIABANK from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Monday, January 28th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $88.25.

Shares of IBKC stock traded down $2.44 on Wednesday, reaching $73.28. The stock had a trading volume of 414,875 shares, compared to its average volume of 363,365. The company has a market cap of $4.15 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.35 and a beta of 1.53. IBERIABANK has a 1 year low of $60.82 and a 1 year high of $87.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.92 and a quick ratio of 0.91.

IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Friday, January 25th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.08. The firm had revenue of $265.99 million for the quarter, compared to the consensus estimate of $308.20 million. IBERIABANK had a return on equity of 9.98% and a net margin of 26.94%. During the same period last year, the business posted $1.33 EPS. As a group, analysts expect that IBERIABANK will post 7.18 earnings per share for the current year.

In other IBERIABANK news, insider Haddon Spurgeon Mackie, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $77.61, for a total transaction of $77,610.00. Following the sale, the insider now directly owns 10,860 shares of the company’s stock, valued at $842,844.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ricky E. Maples purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, January 29th. The shares were acquired at an average cost of $75.60 per share, for a total transaction of $189,000.00. Following the completion of the acquisition, the director now owns 6,100 shares of the company’s stock, valued at $461,160. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 8,500 shares of company stock worth $645,450 and have sold 21,502 shares worth $1,609,475. 2.53% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P raised its holdings in IBERIABANK by 1.6% during the third quarter. Loomis Sayles & Co. L P now owns 221,206 shares of the bank’s stock valued at $17,995,000 after acquiring an additional 3,476 shares during the period. Fox Run Management L.L.C. raised its holdings in IBERIABANK by 131.9% during the fourth quarter. Fox Run Management L.L.C. now owns 6,593 shares of the bank’s stock valued at $424,000 after acquiring an additional 3,750 shares during the period. Virtu Financial LLC bought a new stake in IBERIABANK during the fourth quarter valued at about $201,000. State Board of Administration of Florida Retirement System raised its holdings in IBERIABANK by 32.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 18,798 shares of the bank’s stock valued at $1,208,000 after acquiring an additional 4,552 shares during the period. Finally, Citigroup Inc. raised its holdings in IBERIABANK by 1.4% during the fourth quarter. Citigroup Inc. now owns 863,812 shares of the bank’s stock valued at $55,527,000 after acquiring an additional 12,148 shares during the period. 85.27% of the stock is currently owned by institutional investors and hedge funds.

About IBERIABANK

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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