Zacks: Analysts Anticipate IBERIABANK Corporation (IBKC) to Announce $1.27 EPS
Brokerages forecast that IBERIABANK Corporation (NASDAQ:IBKC) will post $1.27 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for IBERIABANK Corporation’s earnings, with estimates ranging from $1.23 to $1.31. IBERIABANK Corporation reported earnings per share of $1.16 during the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The company is scheduled to report its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that IBERIABANK Corporation will report full year earnings of $4.28 per share for the current year, with EPS estimates ranging from $3.63 to $4.58. For the next fiscal year, analysts forecast that the company will post earnings of $5.62 per share, with EPS estimates ranging from $5.45 to $5.92. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for IBERIABANK Corporation.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.13). IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.79%. The firm had revenue of $270.19 million for the quarter, compared to analyst estimates of $276.02 million. During the same period last year, the firm posted $1.08 EPS. The business’s revenue was up 21.0% compared to the same quarter last year.
IBKC has been the subject of several analyst reports. Stephens downgraded shares of IBERIABANK Corporation from an “overweight” rating to an “equal weight” rating in a report on Friday, October 20th. Piper Jaffray Companies raised shares of IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price target for the company in a report on Tuesday, August 15th. Zacks Investment Research raised shares of IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. SunTrust Banks, Inc. reduced their price target on shares of IBERIABANK Corporation to $80.00 and set a “hold” rating for the company in a report on Wednesday, October 25th. Finally, ValuEngine raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $89.27.
In related news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the sale, the director now owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.17% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV lifted its holdings in IBERIABANK Corporation by 0.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock worth $260,000 after purchasing an additional 14 shares during the period. PNC Financial Services Group Inc. raised its position in IBERIABANK Corporation by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after acquiring an additional 20 shares in the last quarter. IFP Advisors Inc raised its position in IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after acquiring an additional 20 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its position in IBERIABANK Corporation by 0.6% in the second quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock worth $759,000 after acquiring an additional 52 shares in the last quarter. Finally, Commerce Bank raised its position in IBERIABANK Corporation by 1.0% in the second quarter. Commerce Bank now owns 6,015 shares of the bank’s stock worth $490,000 after acquiring an additional 60 shares in the last quarter. 80.20% of the stock is owned by institutional investors and hedge funds.
IBERIABANK Corporation (NASDAQ:IBKC) opened at $70.70 on Friday. IBERIABANK Corporation has a 1-year low of $69.60 and a 1-year high of $91.10. The stock has a market cap of $3,810.00, a price-to-earnings ratio of 16.62, a PEG ratio of 2.07 and a beta of 1.37. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.20.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, September 29th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.48 annualized dividend and a yield of 2.09%. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio is presently 41.93%.
IBERIABANK Corporation Company Profile
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory 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 (CDE), which invests in purchased tax credits.
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