Zacks Investment Research downgraded shares of IBERIABANK Corporation (NASDAQ:IBKC) from a buy rating to a hold rating in a report released on Monday, July 31st.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
Other equities analysts have also issued research reports about the company. BidaskClub lowered IBERIABANK Corporation from a hold rating to a sell rating in a report on Thursday, June 22nd. Hovde Group raised IBERIABANK Corporation from a market perform rating to an outperform rating and set a $87.00 price target on the stock in a report on Monday, June 5th. Barclays PLC raised IBERIABANK Corporation to an outperform rating and set a $97.00 price target on the stock in a report on Monday, May 1st. Robert W. Baird raised IBERIABANK Corporation from a neutral rating to an outperform rating and raised their price target for the stock from $88.00 to $97.00 in a report on Monday, May 1st. Finally, ValuEngine raised IBERIABANK Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $86.92.
Shares of IBERIABANK Corporation (NASDAQ IBKC) opened at 75.90 on Monday. IBERIABANK Corporation has a 52-week low of $62.65 and a 52-week high of $91.10. The stock has a market capitalization of $4.07 billion, a PE ratio of 18.49 and a beta of 1.28. The company’s 50 day moving average price is $80.39 and its 200 day moving average price is $80.34.
IBERIABANK Corporation (NASDAQ:IBKC) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by $0.02. The firm had revenue of $239.61 million for the quarter, compared to analysts’ expectations of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. On average, equities research analysts anticipate that IBERIABANK Corporation will post $4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 30th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.44 annualized dividend and a dividend yield of 1.90%. IBERIABANK Corporation’s dividend payout ratio is currently 35.04%.
In other IBERIABANK Corporation news, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $78.82, for a total value of $1,970,500.00. Following the completion of the transaction, the insider now directly owns 93,878 shares in the company, valued at approximately $7,399,463.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.12, for a total value of $492,016.92. Following the completion of the transaction, the insider now owns 60,553 shares of the company’s stock, valued at $4,851,506.36. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nations Financial Group Inc. IA ADV boosted its stake in shares of IBERIABANK Corporation by 0.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,171 shares of the bank’s stock valued at $251,000 after buying an additional 14 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of IBERIABANK Corporation by 0.6% in the first 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 in the last quarter. IFP Advisors Inc boosted its stake in shares of IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock valued at $229,000 after buying an additional 20 shares in the last quarter. US Bancorp DE boosted its stake in shares of IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after buying an additional 38 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC boosted its stake in shares of IBERIABANK Corporation by 0.6% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after buying an additional 52 shares during the period. Institutional investors own 86.06% 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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