IBERIABANK (NASDAQ:IBKC) Downgraded by BidaskClub

BidaskClub downgraded shares of IBERIABANK (NASDAQ:IBKC) from a hold rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.

A number of other analysts have also commented on IBKC. Keefe, Bruyette & Woods lowered shares of IBERIABANK from an outperform rating to a market perform rating and boosted their price objective for the stock from $85.00 to $87.00 in a research report on Thursday, November 7th. ValuEngine lowered shares of IBERIABANK from a hold rating to a sell rating in a research report on Friday, December 20th. Zacks Investment Research raised shares of IBERIABANK from a sell rating to a hold rating in a research report on Tuesday, October 22nd. Stephens set a $83.00 price objective on shares of IBERIABANK and gave the stock a buy rating in a research report on Friday, October 18th. Finally, Sandler O’Neill lowered shares of IBERIABANK from a buy rating to a hold rating and cut their price objective for the stock from $86.00 to $76.00 in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $82.50.

Shares of IBKC opened at $74.74 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.96 and a current ratio of 0.97. IBERIABANK has a twelve month low of $65.38 and a twelve month high of $81.86. The firm’s 50 day moving average price is $73.95 and its two-hundred day moving average price is $74.04. The firm has a market cap of $3.91 billion, a P/E ratio of 11.17, a PEG ratio of 1.38 and a beta of 1.53.

IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Friday, October 18th. The bank reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.03. IBERIABANK had a net margin of 28.75% and a return on equity of 10.11%. The firm had revenue of $313.01 million for the quarter, compared to analyst estimates of $312.94 million. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that IBERIABANK will post 7.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, December 30th. IBERIABANK’s dividend payout ratio is presently 26.91%.

In other news, EVP Robert M. Kottler sold 19,438 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.16, for a total value of $1,441,522.08. Following the sale, the executive vice president now owns 31,973 shares of the company’s stock, valued at $2,371,117.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.65% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in IBERIABANK during the third quarter worth $944,000. Stifel Financial Corp increased its holdings in IBERIABANK by 45.2% during the third quarter. Stifel Financial Corp now owns 190,509 shares of the bank’s stock worth $14,401,000 after buying an additional 59,295 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of IBERIABANK in the third quarter valued at $9,868,000. Boston Advisors LLC acquired a new position in shares of IBERIABANK in the third quarter valued at about $1,906,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of IBERIABANK in the third quarter worth about $62,000. Institutional investors and hedge funds own 84.64% of the company’s stock.

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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Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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