Today: The Iberia Capital Downgrades Iberiabank Corp. (IBKC) to Outperform

The Iberia Capital Downgrades Iberiabank Corp. (IBKC) to Outperform

Iberiabank Corp. (NASDAQ:IBKC) was downgraded by equities researchers at Iberia Capital from a “strong-buy” rating to an “outperform” rating in a research report issued on Thursday. They presently have a $72.00 price target on the stock, down from their prior price target of $78.00. Iberia Capital’s target price indicates a potential upside of 9.71% from the company’s current price.

Several other analysts have also issued reports on IBKC. Zacks Investment Research upgraded Iberiabank Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, July 6th. FBR & Co boosted their target price on Iberiabank Corp. from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Keefe, Bruyette & Woods boosted their target price on Iberiabank Corp. from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. FIG Partners upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, August 8th. Finally, Raymond James Financial Inc. upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $65.90.

Shares of Iberiabank Corp. (NASDAQ:IBKC) opened at 65.625 on Thursday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 15.121 and a beta of 1.10. Iberiabank Corp. has a 12-month low of $42.20 and a 12-month high of $71.50. The stock’s 50 day moving average price is $68.13 and its 200 day moving average price is $63.14.

Iberiabank Corp. (NASDAQ:IBKC) last issued its earnings results on Wednesday, October 26th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.12. The firm earned $223.23 million during the quarter, compared to the consensus estimate of $41.83 million. Iberiabank Corp. had a net margin of 19.67% and a return on equity of 7.58%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Equities research analysts expect that Iberiabank Corp. will post $4.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 30th were paid a $0.36 dividend. This is a positive change from Iberiabank Corp.’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, September 28th. Iberiabank Corp.’s dividend payout ratio is currently 33.18%.

In other news, insider Elizabeth A. Ardoin sold 2,455 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $68.58, for a total value of $168,363.90. Following the completion of the transaction, the insider now directly owns 16,978 shares in the company, valued at approximately $1,164,351.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Davis sold 8,560 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $68.02, for a total value of $582,251.20. Following the completion of the transaction, the insider now owns 57,264 shares of the company’s stock, valued at $3,895,097.28. The disclosure for this sale can be found here. 3.17% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its position in Iberiabank Corp. by 0.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 7,523 shares of the company’s stock worth $450,000 after buying an additional 19 shares during the last quarter. Ronald Blue & Co. LLC boosted its position in Iberiabank Corp. by 0.3% in the third quarter. Ronald Blue & Co. LLC now owns 12,356 shares of the company’s stock worth $829,000 after buying an additional 32 shares during the last quarter. Commerce Bank boosted its position in Iberiabank Corp. by 0.8% in the second quarter. Commerce Bank now owns 6,040 shares of the company’s stock worth $361,000 after buying an additional 45 shares during the last quarter. 1st Global Advisors Inc. boosted its position in Iberiabank Corp. by 1.5% in the second quarter. 1st Global Advisors Inc. now owns 6,013 shares of the company’s stock worth $359,000 after buying an additional 86 shares during the last quarter. Finally, Pitcairn Co. boosted its position in Iberiabank Corp. by 2.7% in the second quarter. Pitcairn Co. now owns 5,194 shares of the company’s stock worth $310,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 81.61% of the company’s stock.

Iberiabank Corp. Company Profile

Related posts

Leave a Comment