SunTrust Banks Weighs in on IBERIABANK Corporation’s Q3 2017 Earnings (NASDAQ:IBKC)

IBERIABANK Corporation (NASDAQ:IBKC) – Stock analysts at SunTrust Banks increased their Q3 2017 earnings estimates for IBERIABANK Corporation in a research report issued on Tuesday. SunTrust Banks analyst J. Demba now forecasts that the bank will post earnings per share of $1.21 for the quarter, up from their previous forecast of $1.13. SunTrust Banks also issued estimates for IBERIABANK Corporation’s FY2017 earnings at $4.66 EPS, Q3 2018 earnings at $1.53 EPS and Q4 2018 earnings at $1.53 EPS.

IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by $0.02. The firm had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 7.14%.

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Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods set a $90.00 price objective on shares of IBERIABANK Corporation and gave the stock a “buy” rating in a research report on Monday, June 5th. Zacks Investment Research upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday, May 16th. ValuEngine upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Stephens set a $95.00 price objective on shares of IBERIABANK Corporation and gave the stock a “buy” rating in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $86.92.

IBERIABANK Corporation (NASDAQ IBKC) opened at 80.60 on Wednesday. The stock has a market capitalization of $4.11 billion, a PE ratio of 19.64 and a beta of 1.28. IBERIABANK Corporation has a 1-year low of $60.88 and a 1-year high of $91.10. The company’s 50-day moving average is $81.09 and its 200 day moving average is $80.68.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, June 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, June 28th. IBERIABANK Corporation’s dividend payout ratio is currently 35.04%.

In other IBERIABANK Corporation news, Vice Chairman Michael J. Brown sold 25,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $78.82, for a total transaction of $1,970,500.00. Following the completion of the transaction, the insider now owns 93,878 shares of the company’s stock, valued at $7,399,463.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Stewart Shea III sold 4,147 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $80.65, for a total transaction of $334,455.55. Following the transaction, the director now directly owns 13,179 shares of the company’s stock, valued at approximately $1,062,886.35. The disclosure for this sale can be found here. Insiders sold 68,720 shares of company stock valued at $5,485,713 in the last three months. 3.17% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in IBKC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock valued at $150,000 after buying an additional 520 shares during the period. Karp Capital Management Corp bought a new position in shares of IBERIABANK Corporation during the first quarter valued at $214,000. Stephens Inc. AR bought a new position in shares of IBERIABANK Corporation during the first quarter valued at $214,000. US Bancorp DE raised its position in shares of IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after buying an additional 38 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of IBERIABANK Corporation by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock valued at $248,000 after buying an additional 20 shares during the period. 85.94% of the stock is owned by institutional investors.

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.