Q1 2018 EPS Estimates for IBERIABANK Corp Boosted by SunTrust Banks (IBKC)

IBERIABANK Corp (NASDAQ:IBKC) – Research analysts at SunTrust Banks raised their Q1 2018 earnings per share estimates for IBERIABANK in a note issued to investors on Wednesday. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings per share of $1.27 for the quarter, up from their prior estimate of $1.24. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for IBERIABANK’s Q4 2018 earnings at $1.46 EPS.

IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $276.02 million. During the same period in the previous year, the company earned $1.08 EPS. The company’s revenue was up 21.0% on a year-over-year basis.

IBKC has been the subject of several other research reports. ValuEngine upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Stephens downgraded shares of IBERIABANK from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 20th. Zacks Investment Research downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Hovde Group downgraded shares of IBERIABANK from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $88.00 to $82.00 in a research report on Monday, October 23rd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of IBERIABANK in a research report on Wednesday. One 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 stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.27.

Shares of IBERIABANK (NASDAQ IBKC) opened at $79.35 on Friday. The company has a market cap of $4,271.90, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.33 and a beta of 1.37. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $87.20.

A number of hedge funds and other institutional investors have recently modified their holdings of IBKC. Nations Financial Group Inc. IA ADV lifted its holdings 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 purchasing an additional 14 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its holdings in IBERIABANK 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 purchasing an additional 52 shares in the last quarter. Commerce Bank lifted its holdings in IBERIABANK by 1.0% in the 2nd quarter. Commerce Bank now owns 6,015 shares of the bank’s stock valued at $490,000 after purchasing an additional 60 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in IBERIABANK by 3.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,096 shares of the bank’s stock valued at $334,000 after purchasing an additional 124 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in IBERIABANK by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock valued at $362,000 after purchasing an additional 213 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

In related news, 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 value of $390,900.00. Following the sale, the director now directly owns 27,963 shares of the company’s stock, valued at approximately $2,186,147.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 57,886 shares in the company, valued at $4,297,456.64. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. IBERIABANK’s dividend payout ratio (DPR) is presently 42.05%.

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IBERIABANK 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.

Earnings History and Estimates for IBERIABANK (NASDAQ:IBKC)

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