Jefferies Group LLC upgraded shares of IBERIABANK Corporation (NASDAQ:IBKC) from a hold rating to a buy rating in a report published on Monday morning, Marketbeat reports. The brokerage currently has $94.00 target price on the bank’s stock, up from their previous target price of $89.00. Jefferies Group also issued estimates for IBERIABANK Corporation’s Q3 2017 earnings at $1.15 EPS, Q4 2017 earnings at $1.39 EPS, FY2017 earnings at $4.66 EPS, Q1 2018 earnings at $1.31 EPS, Q2 2018 earnings at $1.46 EPS, Q3 2018 earnings at $1.51 EPS, Q4 2018 earnings at $1.57 EPS, FY2018 earnings at $5.85 EPS and FY2019 earnings at $6.30 EPS.
IBKC has been the subject of a number of other reports. ValuEngine downgraded shares of IBERIABANK Corporation from a buy rating to a hold rating in a research report on Friday, October 6th. Piper Jaffray Companies reiterated an overweight rating and issued a $89.00 price target on shares of IBERIABANK Corporation in a research report on Thursday, October 5th. BidaskClub upgraded shares of IBERIABANK Corporation from a sell rating to a hold rating in a research report on Thursday, June 29th. Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a buy rating in a research report on Saturday, July 22nd. Finally, Zacks Investment Research upgraded shares of IBERIABANK Corporation from a hold rating to a buy rating and set a $91.00 price target for the company in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. IBERIABANK Corporation has an average rating of Buy and a consensus price target of $90.82.
IBERIABANK Corporation (NASDAQ:IBKC) opened at 81.95 on Monday. The firm has a market cap of $4.39 billion, a PE ratio of 19.97 and a beta of 1.32. The firm has a 50-day moving average price of $77.98 and a 200 day moving average price of $79.14. IBERIABANK Corporation has a 12-month low of $62.65 and a 12-month high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.02). IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The business had revenue of $239.61 million during the quarter, compared to analyst estimates of $236.73 million. Equities research analysts forecast that IBERIABANK Corporation will post $4.62 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, September 28th. IBERIABANK Corporation’s dividend payout ratio (DPR) is 36.01%.
In other IBERIABANK Corporation news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the sale, the director now owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.12, for a total transaction of $492,016.92. Following the sale, the insider now directly owns 60,553 shares in the company, 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.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of IBERIABANK Corporation by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after buying an additional 234 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of IBERIABANK Corporation in the second quarter worth $183,000. Nomura Holdings Inc. bought a new stake in shares of IBERIABANK Corporation in the second quarter worth $205,000. Karp Capital Management Corp bought a new stake in shares of IBERIABANK Corporation in the first quarter worth $214,000. Finally, Stephens Inc. AR bought a new stake in shares of IBERIABANK Corporation in the first quarter worth $214,000. 81.11% of the stock is currently owned by hedge funds and other institutional investors.
About IBERIABANK Corporation
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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