Iberiabank Corp. (IBKC) Reaches New 52-Week High at $66.00
Iberiabank Corp. (NASDAQ:IBKC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.00 and last traded at $65.94, with a volume of 246,528 shares changing hands. The stock had previously closed at $64.69.
Several equities analysts have recently issued reports on IBKC shares. Zacks Investment Research upgraded Iberiabank Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Wednesday, July 6th. TheStreet upgraded Iberiabank Corp. from a “hold” rating to a “buy” rating in a research note on Friday, April 22nd. Hovde Group lifted their price target on Iberiabank Corp. from $50.00 to $57.00 and gave the company a “market perform” rating in a research note on Wednesday, May 4th. Keefe, Bruyette & Woods lifted their price target 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. Finally, FIG Partners upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, August 8th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.06.
The company has a market cap of $2.69 billion and a PE ratio of 15.26. The company has a 50-day moving average of $62.05 and a 200 day moving average of $56.43.
Iberiabank Corp. (NASDAQ:IBKC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. The business earned $227.70 million during the quarter, compared to analysts’ expectations of $224.83 million. During the same quarter last year, the business posted $1.05 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that Iberiabank Corp. will post $4.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were given a $0.34 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.10%.
A hedge fund recently raised its stake in Iberiabank Corp. stock. Wells Fargo & Company MN raised its position in Iberiabank Corp. (NASDAQ:IBKC) by 20.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 646,628 shares of the company’s stock after buying an additional 111,511 shares during the period. Wells Fargo & Company MN owned 1.57% of Iberiabank Corp. worth $35,610,000 as of its most recent SEC filing.
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.
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