IBERIABANK Corporation (NASDAQ:IBKC) was upgraded by investment analysts at Jefferies Group LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other brokerages have also issued reports on IBKC. Piper Jaffray Companies upgraded IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price target on the stock in a report on Tuesday, August 15th. Zacks Investment Research lowered IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. JMP Securities increased their price target on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 25th. Finally, Stephens set a $95.00 price target on IBERIABANK Corporation and gave the stock a “buy” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $90.50.

IBERIABANK Corporation (NASDAQ:IBKC) remained flat at $82.15 during midday trading on Monday. 21,900 shares of the company were exchanged. IBERIABANK Corporation has a 52-week low of $62.65 and a 52-week high of $91.10. The stock’s 50-day moving average is $77.24 and its 200 day moving average is $78.96. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 20.02 and a beta of 1.32.

IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.02). The firm had revenue of $239.61 million during the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. On average, equities analysts forecast that IBERIABANK Corporation will post $4.68 EPS for the current year.

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In related news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.12, for a total transaction of $492,016.92. Following the sale, the insider now directly owns 60,553 shares in the company, valued at $4,851,506.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of IBERIABANK Corporation stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total value of $390,900.00. Following the sale, the director now owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. 2.52% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of IBKC. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in IBERIABANK Corporation by 12.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after acquiring an additional 234 shares during the period. Cubist Systematic Strategies LLC bought a new stake in IBERIABANK Corporation during the second quarter worth $183,000. Nomura Holdings Inc. bought a new stake in IBERIABANK Corporation during the second quarter worth $205,000. Stephens Inc. AR bought a new stake in IBERIABANK Corporation during the first quarter worth $214,000. Finally, Karp Capital Management Corp bought a new stake in IBERIABANK Corporation during the first quarter worth $214,000. Institutional investors and hedge funds own 81.11% of the company’s stock.

About IBERIABANK Corporation

IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory 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 (CDE), which invests in purchased tax credits.

Analyst Recommendations for IBERIABANK Corporation (NASDAQ:IBKC)

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