Jefferies Financial Group reiterated their hold rating on shares of IBERIABANK (NASDAQ:IBKC) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a $73.00 price objective on the bank’s stock, down from their prior price objective of $84.00. Jefferies Financial Group also issued estimates for IBERIABANK’s Q4 2019 earnings at $1.67 EPS, FY2019 earnings at $7.10 EPS, Q1 2020 earnings at $1.47 EPS, Q2 2020 earnings at $1.58 EPS, Q3 2020 earnings at $1.65 EPS, Q4 2020 earnings at $1.66 EPS, FY2020 earnings at $6.36 EPS, Q1 2021 earnings at $1.54 EPS, Q2 2021 earnings at $1.64 EPS, Q3 2021 earnings at $1.72 EPS, Q4 2021 earnings at $1.73 EPS and FY2021 earnings at $6.63 EPS.
Other research analysts have also recently issued reports about the stock. Stephens set a $83.00 price target on shares of IBERIABANK and gave the stock a buy rating in a report on Friday, October 18th. BidaskClub cut shares of IBERIABANK from a hold rating to a sell rating in a report on Tuesday, December 31st. ValuEngine raised shares of IBERIABANK from a sell rating to a hold rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods cut shares of IBERIABANK from an outperform rating to a market perform rating and increased their price target for the stock from $85.00 to $87.00 in a report on Thursday, November 7th. Finally, Zacks Investment Research raised shares of IBERIABANK from a sell rating to a hold rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. IBERIABANK currently has a consensus rating of Hold and a consensus target price of $81.14.
NASDAQ IBKC traded down $0.02 during trading hours on Tuesday, hitting $73.35. 331,757 shares of the stock were exchanged, compared to its average volume of 353,074. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.36 and a beta of 1.53. IBERIABANK has a 12-month low of $66.55 and a 12-month high of $81.86. The stock has a 50-day moving average of $73.86 and a 200 day moving average of $73.99. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.34.
IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings results on Friday, October 18th. The bank reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.03. The firm had revenue of $313.01 million during the quarter, compared to analysts’ expectations of $312.94 million. IBERIABANK had a net margin of 28.75% and a return on equity of 10.11%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $1.74 earnings per share. On average, equities research analysts expect that IBERIABANK will post 7.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 2.45%. IBERIABANK’s payout ratio is currently 26.91%.
In other IBERIABANK news, EVP Robert M. Kottler sold 19,438 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.16, for a total transaction of $1,441,522.08. Following the transaction, the executive vice president now directly owns 31,973 shares in the company, valued at $2,371,117.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.65% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in IBERIABANK by 43.8% during the second quarter. Captrust Financial Advisors now owns 509 shares of the bank’s stock worth $39,000 after buying an additional 155 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in IBERIABANK by 38.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 726 shares of the bank’s stock worth $55,000 after buying an additional 203 shares during the period. Tower Research Capital LLC TRC acquired a new position in IBERIABANK during the third quarter worth about $62,000. Gamco Investors INC. ET AL acquired a new position in IBERIABANK during the third quarter worth about $204,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of IBERIABANK by 9.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,426 shares of the bank’s stock valued at $259,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 84.64% of the company’s stock.
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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