Zacks Investment Research upgraded shares of IBERIABANK Corporation (NASDAQ:IBKC) from a sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
Several other analysts also recently commented on IBKC. BidaskClub downgraded shares of IBERIABANK Corporation from a hold rating to a sell rating in a research report on Thursday, June 22nd. Stephens set a $95.00 price objective on shares of IBERIABANK Corporation and gave the stock a buy rating in a research report on Saturday, July 22nd. JMP Securities upped their price objective on shares of IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a market outperform rating in a research report on Tuesday, July 25th. Piper Jaffray Companies upgraded shares of IBERIABANK Corporation from a neutral rating to an overweight rating and set a $89.00 price objective for the company in a research report on Tuesday, August 15th. Finally, ValuEngine upgraded shares of IBERIABANK Corporation from a hold rating to a buy rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $90.82.
IBERIABANK Corporation (NASDAQ:IBKC) traded down 1.27% during mid-day trading on Wednesday, hitting $81.95. 125,583 shares of the stock were exchanged. IBERIABANK Corporation has a 52-week low of $62.65 and a 52-week high of $91.10. The company has a 50 day moving average price of $77.83 and a 200 day moving average price of $79.12. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 19.97 and a beta of 1.32.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The business had revenue of $239.61 million during the quarter, compared to analysts’ expectations of $236.73 million. On average, analysts anticipate that IBERIABANK Corporation will post $4.62 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, September 28th. IBERIABANK Corporation’s dividend payout ratio is presently 36.01%.
In related news, insider John R. Davis sold 6,141 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $80.12, for a total value of $492,016.92. Following the sale, the insider now directly owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the completion of the sale, the director now directly owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in IBERIABANK Corporation by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after acquiring an additional 234 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in IBERIABANK Corporation in the 2nd quarter valued at about $183,000. Nomura Holdings Inc. acquired a new stake in IBERIABANK Corporation in the 2nd quarter valued at about $205,000. Stephens Inc. AR purchased a new position in IBERIABANK Corporation in the 1st quarter valued at about $214,000. Finally, Karp Capital Management Corp purchased a new position in IBERIABANK Corporation in the 1st quarter valued at about $214,000. 81.11% of the stock is currently owned by hedge funds and other institutional investors.
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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