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.
COPYRIGHT VIOLATION NOTICE: “IBERIABANK (IBKC) Cut to Hold at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at https://ledgergazette.com/2018/02/17/iberiabank-ibkc-cut-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for IBERIABANK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK and related companies with MarketBeat.com's FREE daily email newsletter.