IBERIABANK (IBKC) Hits New 12-Month Low at $69.61

Shares of IBERIABANK Corp (NASDAQ:IBKC) hit a new 52-week low during trading on Thursday . The company traded as low as $69.61 and last traded at $70.82, with a volume of 16000 shares trading hands. The stock had previously closed at $70.87.

IBKC has been the subject of a number of recent research reports. Zacks Investment Research raised 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. Stephens set a $85.00 target price on IBERIABANK and gave the stock a “hold” rating in a research report on Tuesday, November 6th. BidaskClub downgraded IBERIABANK from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a report on Monday, November 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. IBERIABANK presently has an average rating of “Hold” and a consensus target price of $86.25.

The firm has a market capitalization of $3.95 billion, a P/E ratio of 16.02, a PEG ratio of 1.35 and a beta of 1.34. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38.

IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Friday, October 19th. The bank reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.06. The company had revenue of $312.30 million during the quarter, compared to the consensus estimate of $311.77 million. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. Analysts forecast that IBERIABANK Corp will post 6.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s dividend payout ratio (DPR) is currently 34.90%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Matthew Goff Investment Advisor LLC purchased a new stake in IBERIABANK in the 3rd quarter worth $301,000. Belpointe Asset Management LLC bought a new position in IBERIABANK during the 3rd quarter valued at about $153,000. Vanguard Group Inc. boosted its position in IBERIABANK by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,910,522 shares of the bank’s stock valued at $399,471,000 after buying an additional 61,188 shares during the period. Morgan Stanley boosted its position in IBERIABANK by 14.5% in the 3rd quarter. Morgan Stanley now owns 169,171 shares of the bank’s stock valued at $13,761,000 after buying an additional 21,431 shares during the period. Finally, Legal & General Group Plc boosted its position in IBERIABANK by 5.9% in the 3rd quarter. Legal & General Group Plc now owns 29,712 shares of the bank’s stock valued at $2,417,000 after buying an additional 1,654 shares during the period. Institutional investors own 88.00% of the company’s stock.

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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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