Wall Street brokerages predict that IBERIABANK Corp (NASDAQ:IBKC) will report sales of $312.20 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for IBERIABANK’s earnings, with the lowest sales estimate coming in at $310.60 million and the highest estimate coming in at $313.90 million. IBERIABANK reported sales of $310.05 million in the same quarter last year, which indicates a positive year over year growth rate of 0.7%. The company is scheduled to report its next quarterly earnings results on Friday, July 19th.
On average, analysts expect that IBERIABANK will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.24 billion to $1.26 billion. For the next financial year, analysts expect that the business will report sales of $1.30 billion, with estimates ranging from $1.26 billion to $1.32 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover IBERIABANK.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, April 25th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.08. IBERIABANK had a return on equity of 10.34% and a net margin of 28.29%. The company had revenue of $302.99 million for the quarter, compared to analysts’ expectations of $304.28 million. During the same period in the prior year, the firm earned $1.37 earnings per share.
Shares of NASDAQ IBKC traded up $0.16 during mid-day trading on Wednesday, hitting $75.02. The company had a trading volume of 10,273 shares, compared to its average volume of 321,974. The stock has a market cap of $3.99 billion, a P/E ratio of 11.28, a PEG ratio of 1.28 and a beta of 1.54. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. IBERIABANK has a 1-year low of $60.82 and a 1-year high of $87.50.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 27th. IBERIABANK’s dividend payout ratio is presently 25.71%.
In other IBERIABANK news, Director Harry V. Barton, Jr. sold 6,812 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $74.47, for a total transaction of $507,289.64. Following the transaction, the director now owns 29,158 shares of the company’s stock, valued at $2,171,396.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John E. Koerner III acquired 13,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $74.81 per share, for a total transaction of $972,530.00. Following the acquisition, the director now owns 7,800 shares of the company’s stock, valued at approximately $583,518. The disclosure for this purchase can be found here. 2.65% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of IBKC. Oppenheimer Asset Management Inc. purchased a new position in shares of IBERIABANK during the fourth quarter worth about $53,000. Toronto Dominion Bank purchased a new position in shares of IBERIABANK during the fourth quarter worth about $65,000. PNC Financial Services Group Inc. grew its holdings in shares of IBERIABANK by 20.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,892 shares of the bank’s stock worth $122,000 after purchasing an additional 319 shares during the last quarter. Kings Point Capital Management purchased a new position in shares of IBERIABANK during the fourth quarter worth about $197,000. Finally, Hodges Capital Management Inc. purchased a new position in shares of IBERIABANK during the first quarter worth about $215,000. 84.13% of the stock is currently owned by institutional investors.
IBERIABANK Company Profile
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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