Zacks Investment Research upgraded shares of Iberiabank (NASDAQ:IBKC) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $86.00 target price on the bank’s stock.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
A number of other brokerages have also commented on IBKC. Iberia Capital lowered Iberiabank from a strong-buy rating to an outperform rating in a report on Wednesday, December 20th. BidaskClub lowered Iberiabank from a buy rating to a hold rating in a report on Thursday, January 25th. Raymond James Financial reissued an outperform rating on shares of Iberiabank in a report on Wednesday, December 20th. Finally, Piper Jaffray set a $95.00 price objective on Iberiabank and gave the stock a buy rating in a report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Iberiabank presently has an average rating of Buy and a consensus price target of $89.55.
Iberiabank (NASDAQ:IBKC) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.07. The firm had revenue of $290.16 million during the quarter, compared to analyst estimates of $285.17 million. Iberiabank had a return on equity of 6.86% and a net margin of 12.66%. The company’s revenue for the quarter was up 35.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. analysts expect that Iberiabank will post 6.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, March 30th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, March 28th. This is a positive change from Iberiabank’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.95%. Iberiabank’s dividend payout ratio is currently 34.00%.
Hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new position in shares of Iberiabank in the fourth quarter valued at approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Iberiabank by 41.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock valued at $233,000 after acquiring an additional 879 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Iberiabank by 139.9% in the fourth quarter. Bank of Montreal Can now owns 3,076 shares of the bank’s stock valued at $239,000 after acquiring an additional 1,794 shares in the last quarter. Jefferies Group LLC grew its holdings in shares of Iberiabank by 70.5% in the fourth quarter. Jefferies Group LLC now owns 4,744 shares of the bank’s stock valued at $368,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Iberiabank in the fourth quarter valued at approximately $389,000. 88.36% of the stock is owned by institutional investors.
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IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.
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