IBERIABANK (NASDAQ:IBKC) Upgraded at Zacks Investment Research
According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “
Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Wave Life Sciences from a buy rating to a hold rating in a research report on Tuesday, April 16th. BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. Raymond James reiterated a buy rating on shares of Teck Resources in a research report on Thursday, April 4th. Finally, Stephens set a $100.00 price objective on shares of Cullen/Frost Bankers and gave the company a hold rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $86.25.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.08. The firm had revenue of $302.99 million for the quarter, compared to the consensus estimate of $304.28 million. IBERIABANK had a net margin of 28.29% and a return on equity of 10.34%. During the same period last year, the firm posted $1.37 EPS. Equities research analysts anticipate that IBERIABANK will post 7.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.45 per share. This is a boost from IBERIABANK’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.80 annualized dividend and a yield of 2.35%. IBERIABANK’s dividend payout ratio (DPR) is presently 25.71%.
In other IBERIABANK news, Director Harry V. Barton, Jr. sold 6,812 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $74.47, for a total transaction of $507,289.64. Following the transaction, the director now owns 29,158 shares of the company’s stock, valued at approximately $2,171,396.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John E. Koerner III bought 13,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $74.81 per share, for a total transaction of $972,530.00. Following the purchase, the director now owns 7,800 shares in the company, valued at approximately $583,518. The disclosure for this purchase can be found here. 2.65% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in IBKC. AJO LP increased its stake in IBERIABANK by 279.6% during the 1st quarter. AJO LP now owns 804,531 shares of the bank’s stock valued at $57,693,000 after buying an additional 592,567 shares during the period. Norges Bank acquired a new position in IBERIABANK during the 4th quarter valued at about $34,178,000. BlackRock Inc. increased its stake in IBERIABANK by 6.0% during the 1st quarter. BlackRock Inc. now owns 4,385,774 shares of the bank’s stock valued at $314,504,000 after buying an additional 249,331 shares during the period. Rothschild & Co. Asset Management US Inc. increased its stake in IBERIABANK by 21.2% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 611,067 shares of the bank’s stock valued at $43,820,000 after buying an additional 107,028 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of IBERIABANK by 216.8% in the 1st quarter. Acadian Asset Management LLC now owns 122,003 shares of the bank’s stock worth $8,747,000 after purchasing an additional 83,487 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.
IBERIABANK Company Profile
IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.
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