IBERIABANK (NASDAQ:IBKC) Downgraded by Keefe, Bruyette & Woods

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Keefe, Bruyette & Woods lowered shares of IBERIABANK (NASDAQ:IBKC) from an outperform rating to a market perform rating in a research note released on Thursday morning, Briefing.com Automated Import reports. They currently have $87.00 price target on the bank’s stock, up from their previous price target of $85.00.

Other analysts also recently issued research reports about the company. ValuEngine upgraded IBERIABANK from a sell rating to a hold rating in a report on Friday, November 1st. Stephens set a $83.00 price objective on IBERIABANK and gave the stock a buy rating in a report on Friday, October 18th. Sandler O’Neill downgraded IBERIABANK from a buy rating to a hold rating and cut their price objective for the stock from $86.00 to $76.00 in a report on Tuesday, October 22nd. BidaskClub upgraded IBERIABANK from a strong sell rating to a sell rating in a report on Tuesday, September 17th. Finally, SunTrust Banks set a $80.00 price objective on IBERIABANK and gave the stock a buy rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $83.00.

Shares of IBKC traded up $0.25 during midday trading on Thursday, hitting $76.95. 622,900 shares of the stock traded hands, compared to its average volume of 340,046. The business’s 50 day moving average price is $74.83 and its two-hundred day moving average price is $74.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $4.12 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. IBERIABANK has a 1-year low of $60.82 and a 1-year high of $81.86.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, October 18th. The bank reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.03. The firm had revenue of $313.01 million for the quarter, compared to the consensus estimate of $312.94 million. IBERIABANK had a return on equity of 10.16% and a net margin of 28.75%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS. As a group, equities research analysts forecast that IBERIABANK will post 7.12 EPS for the current fiscal year.

In other news, CEO Daryl G. Byrd sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.44, for a total value of $422,640.00. Following the transaction, the chief executive officer now owns 254,281 shares in the company, valued at approximately $17,911,553.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.65% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System acquired a new position in shares of IBERIABANK in the 2nd quarter valued at about $372,000. D. E. Shaw & Co. Inc. increased its holdings in shares of IBERIABANK by 41.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 183,441 shares of the bank’s stock valued at $13,914,000 after purchasing an additional 53,863 shares during the period. Invesco Ltd. grew its stake in shares of IBERIABANK by 123.1% in the 2nd quarter. Invesco Ltd. now owns 771,501 shares of the bank’s stock valued at $58,518,000 after buying an additional 425,644 shares in the last quarter. IFG Advisory LLC bought a new stake in shares of IBERIABANK in the 2nd quarter valued at approximately $859,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IBERIABANK by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 501,733 shares of the bank’s stock valued at $38,057,000 after buying an additional 3,625 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

About IBERIABANK

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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Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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