Iberiabank Corp. (IBKC) Forecasted to Post Q4 2016 Earnings of $1.22 Per Share
Iberiabank Corp. (NASDAQ:IBKC) – Investment analysts at Jefferies Group cut their Q4 2016 earnings per share estimates for shares of Iberiabank Corp. in a research note issued on Tuesday. Jefferies Group analyst E. Harmon now expects that the firm will earn $1.22 per share for the quarter, down from their prior estimate of $1.23. Jefferies Group also issued estimates for Iberiabank Corp.’s Q1 2017 earnings at $1.05 EPS, Q2 2017 earnings at $1.28 EPS, Q3 2017 earnings at $1.26 EPS, Q4 2017 earnings at $1.35 EPS and FY2018 earnings at $5.30 EPS.
Other equities analysts have also recently issued research reports about the stock. Iberia Capital upgraded shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research report on Friday, August 26th. Zacks Investment Research upgraded shares of Iberiabank Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, July 6th. FBR & Co lifted their target price on shares of Iberiabank Corp. from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Piper Jaffray Cos. upgraded shares of Iberiabank Corp. from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $65.00 to $78.00 in a research report on Friday, October 7th. Finally, FIG Partners upgraded shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $66.50.
Iberiabank Corp. (NASDAQ:IBKC) traded down 3.38% during trading on Thursday, hitting $67.39. 221,030 shares of the company were exchanged. The company has a 50-day moving average of $68.10 and a 200-day moving average of $61.64. Iberiabank Corp. has a 12 month low of $42.20 and a 12 month high of $71.50. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 15.69 and a beta of 1.10.
Iberiabank Corp. (NASDAQ:IBKC) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. The firm earned $227.70 million during the quarter, compared to analysts’ expectations of $224.83 million. Iberiabank Corp. had a net margin of 19.32% and a return on equity of 7.40%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.06%. This is an increase from Iberiabank Corp.’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, September 28th. Iberiabank Corp.’s payout ratio is presently 33.57%.
In related news, insider John R. Davis sold 8,560 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $68.02, for a total value of $582,251.20. Following the completion of the sale, the insider now directly owns 57,264 shares in the company, valued at $3,895,097.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Elizabeth A. Ardoin sold 2,455 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $68.58, for a total transaction of $168,363.90. Following the completion of the sale, the insider now owns 16,978 shares of the company’s stock, valued at $1,164,351.24. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC increased its stake in Iberiabank Corp. by 32.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,864,582 shares of the company’s stock worth $95,597,000 after buying an additional 459,120 shares during the last quarter. State Street Corp increased its stake in Iberiabank Corp. by 12.4% in the first quarter. State Street Corp now owns 1,297,781 shares of the company’s stock valued at $66,538,000 after buying an additional 143,594 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Iberiabank Corp. by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 938,201 shares of the company’s stock valued at $48,102,000 after buying an additional 29,085 shares in the last quarter. BlackRock Group LTD increased its stake in Iberiabank Corp. by 123.0% in the first quarter. BlackRock Group LTD now owns 43,275 shares of the company’s stock valued at $2,218,000 after buying an additional 23,872 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Iberiabank Corp. by 5.3% in the second quarter. JPMorgan Chase & Co. now owns 1,024,392 shares of the company’s stock valued at $61,187,000 after buying an additional 51,369 shares in the last quarter. Hedge funds and other institutional investors own 81.47% of the company’s stock.
About Iberiabank Corp.
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.
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