IBERIABANK Corporation (NASDAQ:IBKC) – Research analysts at Jefferies Group upped their FY2018 EPS estimates for IBERIABANK Corporation in a research report issued on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $5.85 for the year, up from their prior forecast of $5.80. Jefferies Group currently has a “Buy” rating and a $94.00 target price on the stock. Jefferies Group also issued estimates for IBERIABANK Corporation’s FY2019 earnings at $6.30 EPS.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.02). IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The firm had revenue of $239.61 million during the quarter, compared to the consensus estimate of $236.73 million.
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IBERIABANK Corporation (NASDAQ IBKC) traded up 0.18% during trading on Tuesday, reaching $82.60. The company’s stock had a trading volume of 80,848 shares. IBERIABANK Corporation has a one year low of $62.66 and a one year high of $91.10. The stock has a 50-day moving average of $77.42 and a 200 day moving average of $79.04. The firm has a market capitalization of $4.43 billion, a P/E ratio of 20.13 and a beta of 1.32.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be paid a $0.37 dividend. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, September 28th. IBERIABANK Corporation’s dividend payout ratio is currently 36.01%.
In related news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the sale, the director now owns 27,963 shares in the company, valued at approximately $2,186,147.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John R. Davis sold 6,141 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the completion of the sale, the insider now owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The disclosure for this sale can be found here. Corporate insiders own 2.52% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Nations Financial Group Inc. IA ADV increased its stake in IBERIABANK Corporation by 0.4% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock valued at $260,000 after buying an additional 14 shares during the period. PNC Financial Services Group Inc. increased its stake in IBERIABANK Corporation by 0.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock valued at $248,000 after buying an additional 20 shares during the period. IFP Advisors Inc increased its stake in IBERIABANK Corporation by 0.7% in the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock valued at $229,000 after buying an additional 20 shares during the period. US Bancorp DE increased its stake in IBERIABANK Corporation by 1.4% in the 1st quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after buying an additional 38 shares during the period. Finally, Summit Financial Wealth Advisors LLC increased its stake in IBERIABANK Corporation by 0.6% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock valued at $759,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 81.11% of the company’s stock.
IBERIABANK Corporation 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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