Iberiabank Corp. (IBKC) Receives $66.38 Consensus PT from Brokerages
Shares of Iberiabank Corp. (NASDAQ:IBKC) have been assigned an average rating of “Buy” from the thirteen ratings firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $66.38.
A number of research analysts recently issued reports on the stock. FIG Partners raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, August 8th. Zacks Investment Research cut shares of Iberiabank Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Iberia Capital raised shares of Iberiabank Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 price objective on the stock in a research note on Friday, October 7th. Raymond James Financial Inc. raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Thursday, August 25th. Finally, Piper Jaffray Cos. raised shares of Iberiabank Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $65.00 to $78.00 in a research note on Friday, October 7th.
Shares of Iberiabank Corp. (NASDAQ:IBKC) opened at 74.70 on Friday. The company has a market cap of $3.07 billion, a PE ratio of 17.21 and a beta of 1.14. Iberiabank Corp. has a 12 month low of $42.20 and a 12 month high of $75.00. The firm’s 50 day moving average is $68.14 and its 200 day moving average is $64.09.
Iberiabank Corp. (NASDAQ:IBKC) last announced its earnings results on Wednesday, October 26th. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.12. Iberiabank Corp. had a return on equity of 7.53% and a net margin of 19.67%. The business had revenue of $223.23 million for the quarter, compared to the consensus estimate of $41.83 million. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Iberiabank Corp. will post $4.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, September 30th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Wednesday, September 28th. This is a positive change from Iberiabank Corp.’s previous quarterly dividend of $0.34. Iberiabank Corp.’s payout ratio is 33.18%.
In other news, EVP Anthony J. Restel sold 3,342 shares of Iberiabank Corp. stock in a transaction on Monday, August 29th. The shares were sold at an average price of $69.22, for a total transaction of $231,333.24. Following the transaction, the executive vice president now owns 36,405 shares in the company, valued at $2,519,954.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daryl G. Byrd sold 11,744 shares of Iberiabank Corp. stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $70.00, for a total transaction of $822,080.00. Following the transaction, the chief executive officer now owns 201,722 shares in the company, valued at approximately $14,120,540. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Iberiabank Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,783 shares of the company’s stock valued at $106,000 after buying an additional 778 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Iberiabank Corp. by 7,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $123,000 after buying an additional 2,030 shares during the last quarter. Advisor Group Inc. purchased a new position in Iberiabank Corp. during the second quarter valued at about $125,000. Johnson Financial Group Inc. raised its position in Iberiabank Corp. by 25.0% in the second quarter. Johnson Financial Group Inc. now owns 2,550 shares of the company’s stock valued at $152,000 after buying an additional 510 shares during the last quarter. Finally, Sei Investments Co. raised its position in Iberiabank Corp. by 368.3% in the second quarter. Sei Investments Co. now owns 2,604 shares of the company’s stock valued at $155,000 after buying an additional 2,048 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.
Iberiabank Corp. Company Profile
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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