FY2017 Earnings Forecast for IBERIABANK Corp Issued By Jefferies Group (IBKC)
IBERIABANK Corp (NASDAQ:IBKC) – Analysts at Jefferies Group boosted their FY2017 EPS estimates for shares of IBERIABANK in a research report issued on Tuesday. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $3.64 per share for the year, up from their prior forecast of $3.63. Jefferies Group currently has a “Buy” rating and a $94.00 target price on the stock. Jefferies Group also issued estimates for IBERIABANK’s Q1 2018 earnings at $1.37 EPS, Q2 2018 earnings at $1.54 EPS, Q3 2018 earnings at $1.64 EPS and Q4 2018 earnings at $1.71 EPS.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). The business had revenue of $270.19 million for the quarter, compared to analysts’ expectations of $276.02 million. IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS.
IBERIABANK (NASDAQ:IBKC) opened at $82.45 on Friday. The firm has a market cap of $4,390.00, a price-to-earnings ratio of 24.11, a PEG ratio of 1.75 and a beta of 1.37. IBERIABANK has a one year low of $68.55 and a one year high of $86.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is 43.27%.
In other news, Director William H. Fenstermaker bought 2,500 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were bought at an average price of $71.81 per share, for a total transaction of $179,525.00. Following the purchase, the director now owns 43,242 shares in the company, valued at $3,105,208.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John R. Davis sold 3,263 shares of IBERIABANK stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the transaction, the insider now owns 57,886 shares in the company, valued at approximately $4,297,456.64. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in IBERIABANK in the 3rd quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in IBERIABANK by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after acquiring an additional 234 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in IBERIABANK in the 2nd quarter valued at $183,000. Nomura Holdings Inc. bought a new stake in IBERIABANK in the 2nd quarter valued at $205,000. Finally, BB&T Corp bought a new stake in IBERIABANK in the 3rd quarter valued at $277,000. Institutional investors own 80.39% of the company’s stock.
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IBERIABANK Company Profile
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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