Wall Street brokerages predict that IBERIABANK Corporation (NASDAQ:IBKC) will announce sales of $273.99 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for IBERIABANK Corporation’s earnings. The lowest sales estimate is $249.50 million and the highest is $290.40 million. IBERIABANK Corporation posted sales of $223.24 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The company is expected to report its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that IBERIABANK Corporation will report full year sales of $273.99 million for the current financial year, with estimates ranging from $989.00 million to $1.05 billion. For the next financial year, analysts forecast that the company will report sales of $1.21 billion per share, with estimates ranging from $1.15 billion to $1.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for IBERIABANK Corporation.
IBERIABANK Corporation (NASDAQ:IBKC) last issued its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by $0.02. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 7.14%. The company had revenue of $239.61 million during the quarter, compared to analysts’ expectations of $236.73 million.
IBKC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods set a $90.00 price target on IBERIABANK Corporation and gave the stock a “buy” rating in a report on Monday, June 5th. Zacks Investment Research upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Wednesday, June 7th. ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Stephens set a $95.00 price target on IBERIABANK Corporation and gave the stock a “buy” rating in a report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. IBERIABANK Corporation currently has an average rating of “Buy” and an average price target of $86.92.
IBERIABANK Corporation (NASDAQ IBKC) opened at 79.55 on Thursday. The stock has a market capitalization of $4.06 billion, a PE ratio of 19.39 and a beta of 1.28. IBERIABANK Corporation has a one year low of $62.65 and a one year high of $91.10. The firm has a 50-day moving average of $80.68 and a 200-day moving average of $80.57.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, June 28th. IBERIABANK Corporation’s payout ratio is 35.04%.
In other news, Vice Chairman Michael J. Brown sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $78.82, for a total transaction of $1,970,500.00. Following the transaction, the insider now directly owns 93,878 shares of the company’s stock, valued at $7,399,463.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Davis sold 6,141 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.12, for a total value of $492,016.92. Following the transaction, the insider now directly owns 60,553 shares in the company, valued at $4,851,506.36. The disclosure for this sale can be found here. Insiders have sold 35,288 shares of company stock worth $2,796,972 over the last ninety days. 3.17% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of IBKC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock worth $150,000 after buying an additional 520 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of IBERIABANK Corporation during the first quarter worth $214,000. Stephens Inc. AR purchased a new position in shares of IBERIABANK Corporation during the first quarter worth $214,000. US Bancorp DE raised its position 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 worth $225,000 after buying an additional 38 shares during the last quarter. Finally, IFP Advisors Inc raised its position 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 worth $229,000 after buying an additional 20 shares during the last quarter. 87.34% of the stock is currently owned by institutional investors.
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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