IBERIABANK Corporation (IBKC) Rating Increased to Buy at Jefferies Group LLC
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.
COPYRIGHT VIOLATION WARNING: “IBERIABANK Corporation (IBKC) Rating Increased to Buy at Jefferies Group LLC” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/10/09/iberiabank-corporation-ibkc-rating-increased-to-buy-at-jefferies-group-llc.html.
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.
Receive News & Stock Ratings for IBERIABANK Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK Corporation and related stocks with our FREE daily email newsletter.