Zacks: Analysts Expect IBERIABANK Corp (NASDAQ:IBKC) Will Post Quarterly Sales of $313.86 Million

Equities analysts expect that IBERIABANK Corp (NASDAQ:IBKC) will post $313.86 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for IBERIABANK’s earnings. The highest sales estimate is $318.10 million and the lowest is $310.60 million. IBERIABANK reported sales of $312.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The firm is scheduled to issue its next earnings report on Friday, October 18th.

On average, analysts expect that IBERIABANK will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.23 billion to $1.25 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.27 billion, with estimates ranging from $1.24 billion to $1.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for IBERIABANK.

IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Friday, July 19th. The bank reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.05. IBERIABANK had a return on equity of 10.33% and a net margin of 29.38%. The company had revenue of $315.18 million for the quarter, compared to the consensus estimate of $313.34 million. During the same quarter in the prior year, the business earned $1.71 EPS. IBERIABANK’s revenue was up 4.0% on a year-over-year basis.

IBKC has been the topic of several recent research reports. BidaskClub upgraded IBERIABANK from a “strong sell” rating to a “sell” rating in a report on Tuesday. Stephens set a $89.00 price target on IBERIABANK and gave the stock a “buy” rating in a report on Friday, July 19th. Zacks Investment Research upgraded IBERIABANK from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. ValuEngine upgraded IBERIABANK from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, SunTrust Banks dropped their price objective on IBERIABANK to $86.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $86.00.

NASDAQ IBKC traded up $0.37 during trading hours on Wednesday, hitting $76.72. 236,417 shares of the company were exchanged, compared to its average volume of 331,491. The company has a 50 day moving average of $71.53 and a two-hundred day moving average of $74.69. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. IBERIABANK has a 52-week low of $60.82 and a 52-week high of $85.85. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.35 and a beta of 1.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from IBERIABANK’s previous quarterly dividend of $0.43. IBERIABANK’s dividend payout ratio is presently 25.71%.

In other news, CEO Daryl G. Byrd sold 6,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.44, for a total value of $422,640.00. Following the transaction, the chief executive officer now owns 254,281 shares in the company, valued at approximately $17,911,553.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Jefferson G. Parker sold 10,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $75.87, for a total value of $758,700.00. Following the completion of the transaction, the insider now owns 38,529 shares in the company, valued at approximately $2,923,195.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,050 shares of company stock worth $2,584,943. Company insiders own 2.65% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. 361 Capital LLC grew its stake in IBERIABANK by 9.3% during the 1st quarter. 361 Capital LLC now owns 39,037 shares of the bank’s stock worth $2,799,000 after buying an additional 3,317 shares during the last quarter. New York State Teachers Retirement System purchased a new position in IBERIABANK during the 2nd quarter worth approximately $372,000. Rothschild & Co. Asset Management US Inc. grew 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 worth $43,820,000 after buying an additional 107,028 shares during the last quarter. GAM Holding AG grew its stake in IBERIABANK by 108.4% during the 1st quarter. GAM Holding AG now owns 10,983 shares of the bank’s stock worth $788,000 after buying an additional 5,713 shares during the last quarter. Finally, IFG Advisory LLC purchased a new position in IBERIABANK during the 2nd quarter worth approximately $859,000. Hedge funds and other institutional investors own 84.87% of the company’s stock.

About IBERIABANK

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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Earnings History and Estimates for IBERIABANK (NASDAQ:IBKC)

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