Shares of IBERIABANK Corp (NASDAQ:IBKC) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $86.25.
A number of equities research analysts have issued reports on the stock. BidaskClub lowered shares of IBERIABANK from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Tuesday, September 25th. ValuEngine lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Stephens set a $91.00 price objective on shares of IBERIABANK and gave the company a “hold” rating in a report on Friday, October 19th. Finally, Hovde Group raised shares of IBERIABANK from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $82.00 to $86.00 in a report on Friday, November 16th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Simplex Trading LLC purchased a new stake in IBERIABANK during the 3rd quarter valued at approximately $105,000. First Mercantile Trust Co. purchased a new position in shares of IBERIABANK in the second quarter valued at $117,000. PNC Financial Services Group Inc. grew its holdings in shares of IBERIABANK by 85.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,573 shares of the bank’s stock valued at $128,000 after purchasing an additional 727 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of IBERIABANK in the third quarter valued at $153,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of IBERIABANK by 127.2% in the third quarter. Valeo Financial Advisors LLC now owns 2,079 shares of the bank’s stock valued at $155,000 after purchasing an additional 1,164 shares in the last quarter. 85.87% of the stock is owned by institutional investors and hedge funds.
IBERIABANK (NASDAQ:IBKC) last released its earnings results on Friday, October 19th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.06. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The company had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. During the same quarter last year, the business earned $1.00 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. Sell-side analysts forecast that IBERIABANK will post 6.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.41 per share. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is 34.90%.
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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