IBERIABANK (IBKC) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of IBERIABANK (NASDAQ:IBKC) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
Other equities research analysts have also issued research reports about the stock. Iberia Capital lowered shares of IBERIABANK from a strong-buy rating to an outperform rating in a research note on Wednesday, December 20th. SunTrust Banks raised shares of IBERIABANK from a hold rating to a buy rating in a research note on Tuesday, November 28th. BidaskClub lowered shares of IBERIABANK from a buy rating to a hold rating in a research note on Thursday, January 25th. Piper Jaffray Companies set a $95.00 price objective on shares of IBERIABANK and gave the stock a buy rating in a research note on Monday, January 29th. Finally, Raymond James Financial reissued an outperform rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. IBERIABANK presently has a consensus rating of Buy and an average target price of $90.27.
IBERIABANK (NASDAQ:IBKC) last announced its earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.07. IBERIABANK had a net margin of 12.66% and a return on equity of 6.86%. The firm had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. sell-side analysts forecast that IBERIABANK will post 6.37 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of IBKC. Victory Capital Management Inc. lifted its stake in shares of IBERIABANK by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,093,514 shares of the bank’s stock worth $84,748,000 after buying an additional 236,669 shares in the last quarter. Strs Ohio lifted its stake in shares of IBERIABANK by 887.9% in the fourth quarter. Strs Ohio now owns 220,300 shares of the bank’s stock worth $17,073,000 after buying an additional 198,000 shares in the last quarter. Millennium Management LLC lifted its stake in shares of IBERIABANK by 10.6% in the fourth quarter. Millennium Management LLC now owns 1,982,114 shares of the bank’s stock worth $153,614,000 after buying an additional 190,374 shares in the last quarter. Ascend Capital LLC lifted its stake in shares of IBERIABANK by 72.2% in the fourth quarter. Ascend Capital LLC now owns 418,650 shares of the bank’s stock worth $32,446,000 after buying an additional 175,536 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of IBERIABANK by 72.6% in the fourth quarter. Thrivent Financial For Lutherans now owns 389,946 shares of the bank’s stock worth $30,220,000 after buying an additional 163,965 shares in the last quarter. Hedge funds and other institutional investors own 88.34% of the company’s stock.
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IBERIABANK 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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