IBERIABANK (NASDAQ:IBKC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
A number of other equities analysts have also recently weighed in on the company. SunTrust Banks raised IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Iberia Capital cut IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies set a $95.00 target price on IBERIABANK and gave the company a “buy” rating in a research note on Monday, January 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Finally, BidaskClub raised IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. IBERIABANK presently has an average rating of “Buy” and an average price target of $90.27.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. The firm had revenue of $290.16 million for the quarter, compared to analysts’ expectations of $285.17 million. IBERIABANK had a return on equity of 6.86% and a net margin of 12.66%. IBERIABANK’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. analysts expect that IBERIABANK will post 6.37 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in IBKC. Canada Pension Plan Investment Board purchased a new position in IBERIABANK during the 3rd quarter valued at about $107,000. Cerebellum GP LLC acquired a new stake in shares of IBERIABANK during the 4th quarter valued at about $128,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of IBERIABANK by 41.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock valued at $233,000 after buying an additional 879 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of IBERIABANK by 139.9% during the 4th quarter. Bank of Montreal Can now owns 3,076 shares of the bank’s stock valued at $239,000 after buying an additional 1,794 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of IBERIABANK during the 3rd quarter valued at about $361,000. 88.34% of the stock is currently owned by 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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