IBERIABANK Corp (IBKC) Receives Consensus Recommendation of “Buy” from Analysts

IBERIABANK Corp (NASDAQ:IBKC) has earned an average rating of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $90.14.

A number of analysts have recently issued reports on the company. SunTrust Banks raised IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Zacks Investment Research raised IBERIABANK from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies set a $95.00 price target on IBERIABANK and gave the stock a “buy” rating in a research note on Monday, January 29th. Hovde Group lowered IBERIABANK from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $88.00 to $82.00 in a research note on Monday, October 23rd. Finally, BidaskClub raised IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th.

In related news, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total transaction of $242,245.12. Following the transaction, the insider now owns 57,886 shares in the company, valued at $4,297,456.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.17% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its position in IBERIABANK by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after buying an additional 213 shares in the last quarter. BB&T Corp purchased a new stake in IBERIABANK in the third quarter valued at $277,000. Monarch Partners Asset Management LLC purchased a new stake in IBERIABANK in the third quarter valued at $14,888,000. American International Group Inc. raised its position in IBERIABANK by 8.1% in the third quarter. American International Group Inc. now owns 33,923 shares of the bank’s stock valued at $2,787,000 after purchasing an additional 2,537 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in IBERIABANK by 10.5% in the second quarter. Goldman Sachs Group Inc. now owns 179,709 shares of the bank’s stock valued at $14,647,000 after purchasing an additional 17,045 shares during the period. Hedge funds and other institutional investors own 80.87% of the company’s stock.

Shares of IBERIABANK (NASDAQ:IBKC) traded up $0.75 during trading hours on Tuesday, hitting $84.30. The stock had a trading volume of 219,015 shares, compared to its average volume of 444,872. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market capitalization of $4,541.16, a price-to-earnings ratio of 31.81, a PEG ratio of 1.65 and a beta of 1.40. IBERIABANK has a 12-month low of $68.55 and a 12-month high of $87.55.

IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. The firm had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. IBERIABANK had a return on equity of 6.92% and a net margin of 12.66%. The business’s revenue was up 35.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. analysts forecast that IBERIABANK will post 6.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a yield of 1.76%. IBERIABANK’s payout ratio is 55.85%.

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About IBERIABANK

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.

Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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