IBERIABANK (IBKC) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of IBERIABANK (NASDAQ:IBKC) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “

A number of other equities analysts also recently weighed in on IBKC. BidaskClub downgraded shares of IBERIABANK from a buy rating to a hold rating in a research note on Thursday, January 25th. Piper Jaffray Companies set a $95.00 target price on shares of IBERIABANK and gave the stock a buy rating in a research note on Monday, January 29th. Hovde Group downgraded shares of IBERIABANK from an outperform rating to a market perform rating and lowered their target price for the stock from $88.00 to $82.00 in a research note on Monday, October 23rd. Raymond James Financial reissued an outperform rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Finally, SunTrust Banks lowered their target price on shares of IBERIABANK to $80.00 and set a hold rating for the company in a research note on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. IBERIABANK currently has an average rating of Buy and a consensus target price of $89.82.

IBERIABANK (IBKC) opened at $84.30 on Wednesday. The company has a market cap of $4,500.76, a price-to-earnings ratio of 31.81, a PEG ratio of 1.64 and a beta of 1.40. 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 fifty-two week low of $68.55 and a fifty-two week high of $87.55.

IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.07. The company had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. IBERIABANK had a net margin of 12.66% and a return on equity of 6.92%. IBERIABANK’s revenue was up 35.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. research analysts forecast that IBERIABANK will post 6.37 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, December 28th. IBERIABANK’s dividend payout ratio is presently 55.85%.

In other IBERIABANK news, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the sale, the insider now directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.17% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IBKC. Voya Investment Management LLC increased its stake in IBERIABANK by 24.4% in the second quarter. Voya Investment Management LLC now owns 22,835 shares of the bank’s stock valued at $1,861,000 after purchasing an additional 4,475 shares in the last quarter. Stifel Financial Corp increased its stake in IBERIABANK by 12.8% in the second quarter. Stifel Financial Corp now owns 3,444 shares of the bank’s stock valued at $280,000 after purchasing an additional 392 shares in the last quarter. State Street Corp increased its stake in IBERIABANK by 20.2% in the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after purchasing an additional 428,968 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in IBERIABANK in the second quarter valued at $183,000. Finally, The Manufacturers Life Insurance Company increased its stake in IBERIABANK by 12.2% in the second quarter. The Manufacturers Life Insurance Company now owns 37,954 shares of the bank’s stock valued at $3,093,000 after purchasing an additional 4,124 shares in the last quarter. 80.87% of the stock is owned by hedge funds and other institutional investors.

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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.

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