IBERIABANK Corporation (IBKC) Expected to Announce Earnings of $1.24 Per Share
Wall Street brokerages predict that IBERIABANK Corporation (NASDAQ:IBKC) will announce earnings per share of $1.24 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for IBERIABANK Corporation’s earnings, with the highest EPS estimate coming in at $1.31 and the lowest estimate coming in at $1.20. IBERIABANK Corporation reported earnings per share of $1.08 during the same quarter last year, which suggests a positive year over year growth rate of 14.8%. The firm is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that IBERIABANK Corporation will report full year earnings of $4.73 per share for the current year, with EPS estimates ranging from $4.60 to $4.90. For the next financial year, analysts forecast that the business will report earnings of $5.87 per share, with EPS estimates ranging from $5.75 to $6.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for IBERIABANK Corporation.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). The business had revenue of $239.61 million during the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%.
A number of equities analysts have recently commented on the stock. Hovde Group raised shares of IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a research note on Monday, June 5th. Zacks Investment Research downgraded shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. BidaskClub raised shares of IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Stephens set a $95.00 target price on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $90.70.
IBERIABANK Corporation (NASDAQ IBKC) traded up 0.20% during trading on Thursday, hitting $76.10. 199,873 shares of the company’s stock traded hands. The stock has a market cap of $4.08 billion, a P/E ratio of 18.54 and a beta of 1.30. The firm’s 50-day moving average price is $76.83 and its 200 day moving average price is $78.99. IBERIABANK Corporation has a 12-month low of $62.66 and a 12-month high of $91.10.
In other news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $80.12, for a total value of $492,016.92. Following the completion of the transaction, the insider now directly owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.52% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IBKC. BlackRock Inc. boosted its holdings in shares of IBERIABANK Corporation by 13,809.5% in the 1st quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock valued at $275,765,000 after buying an additional 3,461,213 shares during the period. EJF Capital LLC boosted its holdings in shares of IBERIABANK Corporation by 3,391.7% in the 1st quarter. EJF Capital LLC now owns 925,925 shares of the bank’s stock valued at $73,241,000 after buying an additional 899,407 shares during the period. FMR LLC acquired a new position in shares of IBERIABANK Corporation in the 1st quarter valued at about $45,538,000. Vanguard Group Inc. boosted its holdings in shares of IBERIABANK Corporation by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 4,089,357 shares of the bank’s stock valued at $323,469,000 after buying an additional 502,701 shares during the period. Finally, State Street Corp boosted its holdings in shares of IBERIABANK Corporation by 27.1% in the 1st quarter. State Street Corp now owns 2,126,739 shares of the bank’s stock valued at $168,230,000 after buying an additional 454,085 shares during the period. 81.11% of the stock is owned by institutional investors and hedge funds.
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IBERIABANK Corporation 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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