IBERIABANK Corporation (IBKC) Issues Quarterly Earnings Results, Misses Expectations By $0.13 EPS

IBERIABANK Corporation (NASDAQ:IBKC) announced its earnings results on Thursday. The bank reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13), Bloomberg Earnings reports. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The company had revenue of $270.19 million during the quarter, compared to the consensus estimate of $276.02 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. The business’s revenue was up 21.0% on a year-over-year basis.

Shares of IBERIABANK Corporation (NASDAQ:IBKC) traded down 7.30% during trading on Friday, reaching $74.30. The company’s stock had a trading volume of 460,262 shares. IBERIABANK Corporation has a 52-week low of $62.66 and a 52-week high of $91.10. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 18.10 and a beta of 1.32. The stock’s 50 day moving average price is $78.56 and its 200-day moving average price is $79.25.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.85%. IBERIABANK Corporation’s payout ratio is 36.01%.

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Several brokerages recently commented on IBKC. ValuEngine cut IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Jefferies Group LLC upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $94.00 in a report on Monday, October 9th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK Corporation in a report on Thursday, October 5th. BidaskClub upgraded IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Stephens set a $95.00 target price on IBERIABANK Corporation and gave the company a “buy” rating in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $90.82.

In other news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the transaction, the director now owns 27,963 shares in the company, valued at approximately $2,186,147.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John R. Davis sold 6,141 shares of the firm’s stock in a transaction that occurred 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 approximately $4,851,506.36. The disclosure for this sale can be found here. Company insiders own 3.17% 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 Denni

Shares of IBERIABANK Corporation (NASDAQ:IBKC) traded down 7.30% during trading on Friday, reaching $74.30. The company’s stock had a trading volume of 460,262 shares. IBERIABANK Corporation has a 52-week low of $62.66 and a 52-week high of $91.10. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 18.10 and a beta of 1.32. The stock’s 50 day moving average price is $78.56 and its 200-day moving average price is $79.25.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.85%. IBERIABANK Corporation’s payout ratio is 36.01%.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/20/iberiabank-corporation-ibkc-posts-quarterly-earnings-results-misses-estimates-by-0-15-eps.html.

Several brokerages recently commented on IBKC. ValuEngine cut IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Jefferies Group LLC upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $94.00 in a report on Monday, October 9th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK Corporation in a report on Thursday, October 5th. BidaskClub upgraded IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Stephens set a $95.00 target price on IBERIABANK Corporation and gave the company a “buy” rating in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $90.82.

In other news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the transaction, the director now owns 27,963 shares in the company, valued at approximately $2,186,147.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John R. Davis sold 6,141 shares of the firm’s stock in a transaction that occurred 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 approximately $4,851,506.36. The disclosure for this sale can be found here. Company insiders own 3.17% 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.

Earnings History for IBERIABANK Corporation (NASDAQ:IBKC)

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