Jefferies Group Weighs in on Iberiabank Corp.’s Q3 2016 Earnings (IBKC)

Iberiabank Corp. (NASDAQ:IBKC) – Equities research analysts at Jefferies Group dropped their Q3 2016 earnings estimates for Iberiabank Corp. in a research report issued on Tuesday. Jefferies Group analyst E. Harmon now anticipates that the firm will post earnings per share of $1.17 for the quarter, down from their previous estimate of $1.18. Jefferies Group also issued estimates for Iberiabank Corp.’s FY2016 earnings at $4.58 EPS and FY2017 earnings at $4.95 EPS.

Iberiabank Corp. (NASDAQ:IBKC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.04. The company had revenue of $227.70 million for the quarter, compared to the consensus estimate of $224.83 million. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS.

Earnings History and Estimates for Iberiabank Corp. (NASDAQ:IBKC)

A number of other equities research analysts also recently weighed in on IBKC. Iberia Capital raised Iberiabank Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 target price on the stock in a report on Friday, October 7th. Zacks Investment Research downgraded Iberiabank Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Piper Jaffray Cos. raised Iberiabank Corp. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $65.00 to $78.00 in a report on Friday, October 7th. Sandler O’Neill reaffirmed a “hold” rating and issued a $72.00 target price (up previously from $70.00) on shares of Iberiabank Corp. in a report on Tuesday, September 13th. Finally, FBR & Co raised their target price on Iberiabank Corp. from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Iberiabank Corp. presently has an average rating of “Buy” and a consensus price target of $66.50.

Shares of Iberiabank Corp. (NASDAQ:IBKC) traded up 1.918% on Friday, reaching $68.275. The company’s stock had a trading volume of 115,318 shares. Iberiabank Corp. has a 1-year low of $42.20 and a 1-year high of $71.50. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 15.893 and a beta of 1.10. The company’s 50 day moving average is $68.10 and its 200-day moving average is $61.68.

A number of hedge funds and other institutional investors have recently made changes to their positions in IBKC. Dynamic Technology Lab Private Ltd raised its position in Iberiabank Corp. by 0.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 7,523 shares of the company’s stock valued at $450,000 after buying an additional 19 shares during the period. Commerce Bank raised its position in Iberiabank Corp. by 0.8% in the second quarter. Commerce Bank now owns 6,040 shares of the company’s stock valued at $361,000 after buying an additional 45 shares during the period. 1st Global Advisors Inc. raised its position in Iberiabank Corp. by 1.5% in the second quarter. 1st Global Advisors Inc. now owns 6,013 shares of the company’s stock valued at $359,000 after buying an additional 86 shares during the period. Pitcairn Co. raised its position in Iberiabank Corp. by 2.7% in the second quarter. Pitcairn Co. now owns 5,194 shares of the company’s stock valued at $310,000 after buying an additional 137 shares during the period. Finally, Amalgamated Bank raised its position in Iberiabank Corp. by 9.1% in the second quarter. Amalgamated Bank now owns 4,472 shares of the company’s stock valued at $288,000 after buying an additional 372 shares during the period. 81.47% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Anthony J. Restel sold 3,342 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $69.22, for a total transaction of $231,333.24. Following the completion of the transaction, the executive vice president now directly owns 36,405 shares of the company’s stock, valued at approximately $2,519,954.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Davis sold 8,560 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $68.02, for a total value of $582,251.20. Following the transaction, the insider now directly owns 57,264 shares of the company’s stock, valued at $3,895,097.28. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be given a dividend of $0.36 per share. This is a positive change from Iberiabank Corp.’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, September 28th. Iberiabank Corp.’s dividend payout ratio (DPR) is currently 33.57%.

About Iberiabank Corp.

IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.

5 Day Chart for NASDAQ:IBKC

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