IBERIABANK Corporation (NASDAQ:IBKC) Given a $95.00 Price Target by Stephens Analysts

Stephens set a $95.00 price target on IBERIABANK Corporation (NASDAQ:IBKC) in a research note published on Saturday, July 22nd. The firm currently has a buy rating on the bank’s stock.

Several other research firms have also issued reports on IBKC. Zacks Investment Research raised IBERIABANK Corporation from a hold rating to a buy rating and set a $90.00 target price on the stock in a report on Tuesday, May 16th. Keefe, Bruyette & Woods set a $90.00 price objective on IBERIABANK Corporation and gave the company a buy rating in a research note on Monday, April 3rd. ValuEngine raised IBERIABANK Corporation from a hold rating to a buy rating in a research note on Friday, June 2nd. BidaskClub lowered IBERIABANK Corporation from a hold rating to a sell rating in a research note on Thursday, June 22nd. Finally, Iberia Capital raised IBERIABANK Corporation from an outperform rating to a strong-buy rating and set a $93.00 price objective on the stock in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $86.92.

Shares of IBERIABANK Corporation (IBKC) traded down 0.68% on Friday, hitting $80.50. 218,839 shares of the stock traded hands. IBERIABANK Corporation has a 12-month low of $60.89 and a 12-month high of $91.10. The stock has a 50-day moving average price of $80.94 and a 200 day moving average price of $80.58. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 19.62 and a beta of 1.28.

IBERIABANK Corporation (NASDAQ:IBKC) last released its 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 company had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 7.14% and a net margin of 20.08%. On average, analysts anticipate that IBERIABANK Corporation will post $4.71 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 30th were paid a $0.36 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.79%. IBERIABANK Corporation’s dividend payout ratio (DPR) is presently 35.04%.

In other IBERIABANK Corporation news, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $78.82, for a total value of $1,970,500.00. Following the transaction, the insider now owns 93,878 shares of the company’s stock, valued at $7,399,463.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director E Stewart Shea III sold 4,147 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $80.65, for a total value of $334,455.55. Following the completion of the transaction, the director now directly owns 13,179 shares in the company, valued at approximately $1,062,886.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,364 shares of company stock worth $2,650,159. 2.52% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of IBERIABANK Corporation by 13,809.5% in the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock valued at $275,765,000 after buying an additional 3,461,213 shares during the last quarter. EJF Capital LLC raised its stake in shares of IBERIABANK Corporation by 3,391.7% in the first quarter. EJF Capital LLC now owns 925,925 shares of the bank’s stock valued at $73,241,000 after buying an additional 899,407 shares during the last quarter. FMR LLC purchased a new stake in shares of IBERIABANK Corporation during the first quarter valued at about $45,538,000. Vanguard Group Inc. raised its stake in shares of IBERIABANK Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 4,089,357 shares of the bank’s stock valued at $323,469,000 after buying an additional 502,701 shares during the last quarter. Finally, State Street Corp raised its stake in shares of IBERIABANK Corporation by 27.1% in the first quarter. State Street Corp now owns 2,126,739 shares of the bank’s stock valued at $168,230,000 after buying an additional 454,085 shares during the last quarter. Hedge funds and other institutional investors own 86.06% 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.