Iberiabank Corp. to Post Q3 2016 Earnings of $1.17 Per Share, Jefferies Group Forecasts (IBKC)
Iberiabank Corp. (NASDAQ:IBKC) – Equities researchers at Jefferies Group lowered their Q3 2016 earnings estimates for shares of Iberiabank Corp. in a report issued on Tuesday. Jefferies Group analyst E. Harmon now forecasts that the brokerage will post earnings per share of $1.17 for the quarter, down from their previous forecast of $1.18. Jefferies Group also issued estimates for Iberiabank Corp.’s FY2016 earnings at $4.58 EPS and FY2017 earnings at $4.95 EPS.
Several other equities research analysts have also recently weighed in on IBKC. FBR & Co boosted their price objective on Iberiabank Corp. from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Keefe, Bruyette & Woods boosted their price objective 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. Zacks Investment Research cut Iberiabank Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Iberia Capital raised 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 Friday, August 26th. Finally, Piper Jaffray Cos. raised Iberiabank Corp. from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $65.00 to $78.00 in a research note on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $66.50.
Iberiabank Corp. (NASDAQ:IBKC) opened at 68.34 on Friday. Iberiabank Corp. has a 1-year low of $42.20 and a 1-year high of $71.50. The stock has a market cap of $2.80 billion, a PE ratio of 15.91 and a beta of 1.10. The stock has a 50 day moving average price of $68.12 and a 200-day moving average price of $61.80.
Iberiabank Corp. (NASDAQ:IBKC) last released its earnings results on Wednesday, July 27th. The company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. The company earned $227.70 million during the quarter, compared to analysts’ expectations of $224.83 million. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS.
A number of hedge funds have recently bought and sold shares of IBKC. Geode Capital Management LLC raised its stake in Iberiabank Corp. by 4.7% in the first quarter. Geode Capital Management LLC now owns 264,597 shares of the company’s stock worth $13,565,000 after buying an additional 11,926 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Iberiabank Corp. by 1.9% in the first quarter. Loomis Sayles & Co. L P now owns 326,150 shares of the company’s stock worth $16,722,000 after buying an additional 6,192 shares in the last quarter. AXA bought a new stake in Iberiabank Corp. during the first quarter worth $395,000. State Street Corp raised its stake in Iberiabank Corp. by 12.4% in the first quarter. State Street Corp now owns 1,297,781 shares of the company’s stock worth $66,538,000 after buying an additional 143,594 shares in the last quarter. Finally, Credit Agricole S A raised its stake in Iberiabank Corp. by 417.9% in the first quarter. Credit Agricole S A now owns 130,000 shares of the company’s stock worth $6,666,000 after buying an additional 104,900 shares in the last quarter. Institutional investors own 81.47% of the company’s stock.
In related news, insider Elizabeth A. Ardoin sold 2,455 shares of the stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $68.58, for a total value of $168,363.90. Following the transaction, the insider now owns 16,978 shares of the company’s stock, valued at $1,164,351.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony J. Restel sold 3,342 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $69.22, for a total value of $231,333.24. Following the completion of the transaction, the executive vice president now directly owns 36,405 shares in the company, valued at approximately $2,519,954.10. The disclosure for this sale can be found here. 3.17% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.44 annualized dividend and a yield of 2.11%. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. Iberiabank Corp.’s dividend payout ratio is 33.57%.
Iberiabank Corp. Company Profile
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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