Iberiabank Corp. (IBKC) Sees Unusually-High Trading Volume
Iberiabank Corp. (NASDAQ:IBKC) shares saw unusually-strong trading volume on Friday . Approximately 434,574 shares changed hands during trading, an increase of 77% from the previous session’s volume of 245,980 shares.The stock last traded at $68.32 and had previously closed at $67.51.
A number of research analysts recently weighed in on IBKC shares. Zacks Investment Research raised 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. Hovde Group upped their price target on Iberiabank Corp. from $50.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 4th. Keefe, Bruyette & Woods upped their price target on Iberiabank Corp. from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. FBR & Co upped their price target on Iberiabank Corp. from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Finally, Iberia Capital raised Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $62.65.
The firm has a market capitalization of $2.80 billion and a P/E ratio of 15.90. The company’s 50 day moving average price is $63.85 and its 200 day moving average price is $57.41.
Iberiabank Corp. (NASDAQ:IBKC) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.04. The firm had revenue of $227.70 million for the quarter, compared to the consensus estimate of $224.83 million. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, analysts anticipate that Iberiabank Corp. will post $4.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.36 annualized dividend and a yield of 1.99%.
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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