Iberiabank Corp. (IBKC) Sees Large Volume Increase
Iberiabank Corp. (NASDAQ:IBKC) saw strong trading volume on Friday . 246,075 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 236,156 shares.The stock last traded at $66.75 and had previously closed at $66.81.
Several research analysts have commented on the company. Keefe, Bruyette & Woods raised Iberiabank Corp. from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $67.00 to $72.00 in a research report on Wednesday. FBR & Co raised their price objective on Iberiabank Corp. from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. TheStreet raised Iberiabank Corp. from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Zacks Investment Research raised Iberiabank Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, FIG Partners raised Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.06.
The company has a 50-day moving average price of $62.69 and a 200-day moving average price of $56.70. The stock has a market capitalization of $2.74 billion and a price-to-earnings ratio of 15.57.
Iberiabank Corp. (NASDAQ:IBKC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $227.70 million for the quarter, compared to analysts’ expectations of $224.83 million. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Analysts anticipate that Iberiabank Corp. will post $4.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, June 28th.
An institutional investor recently bought a new position in Iberiabank Corp. stock. Piermont Capital Management Inc. purchased a new stake in shares of Iberiabank Corp. (NASDAQ:IBKC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,544 shares of the company’s stock, valued at approximately $2,508,000. Piermont Capital Management Inc. owned approximately 0.11% of Iberiabank Corp. as of its most recent filing with the SEC.
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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