IBERIABANK Corporation Expected to Post Q3 2017 Earnings of $1.08 Per Share (IBKC)
IBERIABANK Corporation (NASDAQ:IBKC) – Investment analysts at SunTrust Banks dropped their Q3 2017 EPS estimates for IBERIABANK Corporation in a report released on Wednesday. SunTrust Banks analyst J. Demba now expects that the bank will earn $1.08 per share for the quarter, down from their prior estimate of $1.21. SunTrust Banks also issued estimates for IBERIABANK Corporation’s FY2017 earnings at $4.53 EPS.
IBERIABANK Corporation (NASDAQ:IBKC) last released its earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.02). The company had revenue of $239.61 million during the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. ILLEGAL ACTIVITY WARNING: “IBERIABANK Corporation Expected to Post Q3 2017 Earnings of $1.08 Per Share (IBKC)” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/10/iberiabank-corporation-expected-to-post-q3-2017-earnings-of-1-08-per-share-ibkc.html.
Several other equities analysts have also commented on the stock. Jefferies Group LLC upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $89.00 to $94.00 in a research note on Monday. ValuEngine lowered shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 price target on shares of IBERIABANK Corporation in a research note on Thursday, October 5th. Zacks Investment Research lowered shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub lowered shares of IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $90.82.
Shares of IBERIABANK Corporation (NASDAQ IBKC) opened at 82.45 on Monday. The company has a 50-day moving average of $77.42 and a 200-day moving average of $79.04. The firm has a market capitalization of $4.42 billion, a PE ratio of 20.09 and a beta of 1.32. IBERIABANK Corporation has a 1-year low of $62.66 and a 1-year high of $91.10.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. IBERIABANK Corporation’s dividend payout ratio (DPR) is 36.01%.
In other news, insider John R. Davis sold 6,141 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the transaction, the insider now directly owns 60,553 shares in the company, valued at $4,851,506.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the transaction, 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. Company insiders own 2.52% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV grew its position in shares of IBERIABANK Corporation by 0.4% during the second quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock worth $260,000 after acquiring an additional 14 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of IBERIABANK Corporation by 0.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after purchasing an additional 20 shares during the period. IFP Advisors Inc lifted its holdings in shares of IBERIABANK Corporation by 0.7% during the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after purchasing an additional 20 shares during the period. US Bancorp DE lifted its holdings in shares of IBERIABANK Corporation by 1.4% during the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock worth $225,000 after purchasing an additional 38 shares during the period. Finally, Summit Financial Wealth Advisors LLC lifted its holdings in shares of IBERIABANK Corporation by 0.6% during the second quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 81.11% of the company’s stock.
IBERIABANK Corporation Company Profile
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.
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