Q4 2016 Earnings Estimate for Iberiabank Corp. (IBKC) Issued By Jefferies Group
Iberiabank Corp. (NASDAQ:IBKC) – Analysts at Jefferies Group decreased their Q4 2016 earnings estimates for Iberiabank Corp. in a research note issued on Tuesday. Jefferies Group analyst E. Harmon now anticipates that the brokerage will post earnings per share of $1.22 for the quarter, down from their prior forecast of $1.23. Jefferies Group also issued estimates for Iberiabank Corp.’s Q1 2017 earnings at $1.05 EPS, Q2 2017 earnings at $1.28 EPS, Q3 2017 earnings at $1.26 EPS, Q4 2017 earnings at $1.35 EPS and FY2018 earnings at $5.30 EPS.
A number of other brokerages also recently commented on IBKC. Zacks Investment Research downgraded Iberiabank Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Sandler O’Neill restated a “hold” rating and issued a $72.00 target price (up previously from $70.00) on shares of Iberiabank Corp. in a research note on Tuesday, September 13th. Raymond James Financial Inc. upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Thursday, August 25th. Keefe, Bruyette & Woods upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $67.00 to $72.00 in a research note on Wednesday, August 17th. Finally, Iberia Capital upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 target price on the stock in a research note on Friday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $66.50.
Shares of Iberiabank Corp. (NASDAQ:IBKC) opened at 68.34 on Thursday. The firm has a 50-day moving average price of $68.12 and a 200-day moving average price of $61.80. The company has a market cap of $2.80 billion, a P/E ratio of 15.91 and a beta of 1.10. Iberiabank Corp. has a 1-year low of $42.20 and a 1-year high of $71.50.
Iberiabank Corp. (NASDAQ:IBKC) last released 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. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The business had revenue of $227.70 million for the quarter, compared to the consensus estimate of $224.83 million. During the same quarter in the previous year, the company posted $1.05 EPS. The company’s revenue was up 4.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from Iberiabank Corp.’s previous quarterly dividend of $0.34. Iberiabank Corp.’s dividend payout ratio (DPR) is 33.57%.
In other news, insider Elizabeth A. Ardoin sold 2,455 shares of the firm’s 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 in the company, valued at $1,164,351.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Anthony J. Restel sold 3,342 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were 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 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 insiders.
Several institutional investors have recently added to or reduced their stakes in IBKC. Victory Capital Management Inc. increased its position in Iberiabank Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,783 shares of the company’s stock valued at $106,000 after buying an additional 778 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Iberiabank Corp. by 7,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $123,000 after buying an additional 2,030 shares in the last quarter. Advisor Group Inc. bought a new stake in Iberiabank Corp. during the second quarter valued at approximately $125,000. Johnson Financial Group Inc. boosted its stake in Iberiabank Corp. by 25.0% in the second quarter. Johnson Financial Group Inc. now owns 2,550 shares of the company’s stock valued at $152,000 after buying an additional 510 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Iberiabank Corp. by 368.3% in the second quarter. Sei Investments Co. now owns 2,604 shares of the company’s stock valued at $155,000 after buying an additional 2,048 shares in the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.
About Iberiabank Corp.
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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