Analysts Offer Predictions for IBERIABANK Corp’s Q2 2018 Earnings (IBKC)
IBERIABANK Corp (NASDAQ:IBKC) – Equities researchers at FIG Partners raised their Q2 2018 earnings estimates for shares of IBERIABANK in a report issued on Monday. FIG Partners analyst C. Marinac now forecasts that the bank will post earnings per share of $1.49 for the quarter, up from their previous forecast of $1.36. FIG Partners also issued estimates for IBERIABANK’s Q3 2018 earnings at $1.60 EPS, FY2018 earnings at $6.15 EPS and FY2019 earnings at $6.70 EPS.
IBKC has been the subject of a number of other reports. SunTrust Banks raised shares of IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. ValuEngine cut shares of IBERIABANK from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Jefferies Group raised shares of IBERIABANK from a “hold” rating to a “buy” rating and upped their target price for the company from $89.00 to $94.00 in a report on Monday, October 9th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK in a report on Thursday, October 5th. Finally, Zacks Investment Research raised shares of IBERIABANK from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $89.82.
IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.07. IBERIABANK had a net margin of 12.66% and a return on equity of 6.92%. The firm had revenue of $290.16 million during the quarter, compared to analysts’ expectations of $285.17 million. During the same period in the previous year, the company earned $1.16 earnings per share. IBERIABANK’s quarterly revenue was up 35.0% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.48 annualized dividend and a yield of 1.72%. IBERIABANK’s dividend payout ratio is currently 58.73%.
In related news, insider John R. Davis sold 3,263 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the completion of the transaction, the insider now directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Fenstermaker purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of $71.81 per share, with a total value of $179,525.00. Following the completion of the acquisition, the director now directly owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The disclosure for this purchase can be found here. Corporate insiders own 3.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank raised its holdings in IBERIABANK by 4.7% during the fourth quarter. Comerica Bank now owns 61,095 shares of the bank’s stock worth $5,053,000 after purchasing an additional 2,762 shares in the last quarter. Victory Capital Management Inc. raised its holdings in IBERIABANK by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,093,514 shares of the bank’s stock worth $84,748,000 after purchasing an additional 236,669 shares in the last quarter. Quantitative Systematic Strategies LLC raised its holdings in IBERIABANK by 160.3% during the fourth quarter. Quantitative Systematic Strategies LLC now owns 25,758 shares of the bank’s stock worth $1,996,000 after purchasing an additional 15,861 shares in the last quarter. Seaward Management Limited Partnership raised its holdings in IBERIABANK by 1.3% during the fourth quarter. Seaward Management Limited Partnership now owns 217,797 shares of the bank’s stock worth $16,879,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in IBERIABANK by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock worth $233,000 after purchasing an additional 879 shares in the last quarter. 80.71% of the stock is owned by hedge funds and other institutional investors.
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IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.
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