Iberia Capital Lowers IBERIABANK (IBKC) to Outperform

Iberia Capital downgraded shares of IBERIABANK (NASDAQ:IBKC) from a strong-buy rating to an outperform rating in a research report sent to investors on Wednesday, Marketbeat reports.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised IBERIABANK from a hold rating to a buy rating and set a $89.00 price target on the stock in a research report on Thursday, September 28th. Robert W. Baird downgraded IBERIABANK from an outperform rating to a neutral rating and cut their price target for the stock from $97.00 to $78.00 in a research report on Monday, October 23rd. SunTrust Banks raised IBERIABANK from a hold rating to a buy rating in a research report on Tuesday, November 28th. Piper Jaffray Companies reaffirmed an overweight rating and set a $89.00 price target on shares of IBERIABANK in a research report on Thursday, October 5th. Finally, Jefferies Group raised IBERIABANK from a hold rating to a buy rating and increased their price target for the stock from $89.00 to $94.00 in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $89.27.

IBERIABANK (NASDAQ:IBKC) traded up $0.05 during midday trading on Wednesday, hitting $79.35. The company had a trading volume of 250,446 shares, compared to its average volume of 556,810. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $87.20. The firm has a market cap of $4,271.90, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37.

IBERIABANK (NASDAQ:IBKC) last released its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.13). IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The firm had revenue of $270.19 million during the quarter, compared to analyst estimates of $276.02 million. During the same period in the previous year, the company earned $1.08 earnings per share. IBERIABANK’s revenue was up 21.0% on a year-over-year basis. sell-side analysts predict that IBERIABANK will post 4.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, December 28th. IBERIABANK’s payout ratio is currently 42.05%.

In other news, insider John R. Davis sold 3,263 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now directly owns 57,886 shares of the company’s stock, valued at approximately $4,297,456.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following 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. Corporate insiders own 3.17% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new position in IBERIABANK in the 3rd quarter valued at about $107,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in IBERIABANK 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 buying an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in IBERIABANK in the 2nd quarter valued at about $183,000. Nomura Holdings Inc. purchased a new position in IBERIABANK in the 2nd quarter valued at about $205,000. Finally, Nations Financial Group Inc. IA ADV lifted its stake in IBERIABANK 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 in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

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About IBERIABANK

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.

Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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