Keefe, Bruyette & Woods cut shares of IBERIABANK (NASDAQ:IBKC) from an outperform rating to a market perform rating in a report published on Thursday morning, Briefing.com Automated Import reports. Keefe, Bruyette & Woods currently has $87.00 price objective on the bank’s stock, up from their previous price objective of $85.00.
A number of other equities analysts have also commented on IBKC. BidaskClub raised IBERIABANK from a strong sell rating to a sell rating in a research note on Tuesday, September 17th. Zacks Investment Research raised IBERIABANK from a sell rating to a hold rating in a research report on Tuesday, October 22nd. ValuEngine raised IBERIABANK from a sell rating to a hold rating in a research report on Friday, November 1st. Stephens set a $83.00 target price on IBERIABANK and gave the stock a buy rating in a research report on Friday, October 18th. Finally, Sandler O’Neill lowered IBERIABANK from a buy rating to a hold rating and lowered their target price for the stock from $86.00 to $76.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $83.00.
Shares of NASDAQ IBKC traded down $0.55 during mid-day trading on Thursday, reaching $76.40. The company had a trading volume of 270,501 shares, compared to its average volume of 339,727. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.96. IBERIABANK has a one year low of $60.82 and a one year high of $81.86. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.37 and a beta of 1.53. The business’s 50-day simple moving average is $74.85 and its 200 day simple moving average is $74.77.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Friday, October 18th. The bank reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.03. The company had revenue of $313.01 million for the quarter, compared to analysts’ expectations of $312.94 million. IBERIABANK had a return on equity of 10.16% and a net margin of 28.75%. IBERIABANK’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $1.74 earnings per share. On average, sell-side analysts anticipate that IBERIABANK will post 7.12 EPS for the current year.
In other IBERIABANK news, CEO Daryl G. Byrd sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.44, for a total value of $422,640.00. Following the completion of the transaction, the chief executive officer now owns 254,281 shares in the company, valued at approximately $17,911,553.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.65% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in IBKC. Captrust Financial Advisors grew its position in IBERIABANK by 43.8% during the 2nd quarter. Captrust Financial Advisors now owns 509 shares of the bank’s stock worth $39,000 after acquiring an additional 155 shares during the last quarter. Advisor Group Inc. raised its stake in IBERIABANK by 7.0% during the second quarter. Advisor Group Inc. now owns 2,754 shares of the bank’s stock valued at $209,000 after buying an additional 180 shares during the last quarter. Bailard Inc. raised its stake in IBERIABANK by 2.8% during the second quarter. Bailard Inc. now owns 7,275 shares of the bank’s stock valued at $552,000 after buying an additional 200 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in IBERIABANK by 38.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 726 shares of the bank’s stock valued at $55,000 after buying an additional 203 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in IBERIABANK by 5.3% during the second quarter. Lido Advisors LLC now owns 4,081 shares of the bank’s stock valued at $311,000 after buying an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.
IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.
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