IBERIABANK (IBKC) Rating Lowered to Hold at Zacks Investment Research

IBERIABANK (NASDAQ:IBKC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “

Several other research firms have also recently weighed in on IBKC. BidaskClub cut shares of IBERIABANK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. ValuEngine cut shares of IBERIABANK from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Stephens set a $91.00 price objective on shares of IBERIABANK and gave the stock a “hold” rating in a research report on Friday, October 19th. Finally, Hovde Group upgraded shares of IBERIABANK from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $82.00 to $86.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.00.

NASDAQ IBKC opened at $73.06 on Friday. IBERIABANK has a twelve month low of $69.69 and a twelve month high of $87.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.39 and a beta of 1.36.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, October 19th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.06. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The firm had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. During the same period in the previous year, the company posted $1.00 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts expect that IBERIABANK will post 6.59 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of IBKC. Simplex Trading LLC purchased a new position in shares of IBERIABANK during the 3rd quarter valued at $105,000. First Mercantile Trust Co. purchased a new position in shares of IBERIABANK during the 2nd quarter valued at $117,000. PNC Financial Services Group Inc. grew its holdings in shares of IBERIABANK by 85.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,573 shares of the bank’s stock valued at $128,000 after acquiring an additional 727 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of IBERIABANK by 127.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,079 shares of the bank’s stock valued at $155,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Stokes & Hubbell Capital Management LLC purchased a new position in shares of IBERIABANK during the 3rd quarter valued at $205,000. Institutional investors and hedge funds own 85.80% 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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