IBERIABANK Corporation (IBKC) Expected to Announce Earnings of $1.27 Per Share
Equities analysts expect IBERIABANK Corporation (NASDAQ:IBKC) to post earnings of $1.27 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for IBERIABANK Corporation’s earnings, with the lowest EPS estimate coming in at $1.23 and the highest estimate coming in at $1.31. IBERIABANK Corporation posted earnings of $1.16 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The firm is expected to issue its next earnings report on Thursday, January 25th.
According to Zacks, analysts expect that IBERIABANK Corporation will report full year earnings of $4.28 per share for the current financial year, with EPS estimates ranging from $3.63 to $4.58. For the next year, analysts expect that the company will post earnings of $5.62 per share, with EPS estimates ranging from $5.45 to $5.92. Zacks’ earnings per share averages are an average based on a survey of research firms that follow IBERIABANK Corporation.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.13). The firm had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK Corporation had a return on equity of 6.57% and a net margin of 17.14%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
Several research analysts have recently weighed in on the company. ValuEngine downgraded IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Jefferies Group LLC upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. Piper Jaffray Companies restated an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK Corporation in a research note on Thursday, October 5th. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, BidaskClub downgraded IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. IBERIABANK Corporation currently has an average rating of “Buy” and an average target price of $89.27.
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In other news, Director Ernest P. Breaux, Jr. sold 5,000 shares of IBERIABANK Corporation stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the completion of the sale, the director now owns 27,963 shares in the company, valued at approximately $2,186,147.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.52% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of IBERIABANK Corporation by 5.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock valued at $362,000 after buying an additional 213 shares in the last quarter. BB&T Corp purchased a new position in shares of IBERIABANK Corporation during the 3rd quarter valued at about $277,000. Prudential Financial Inc. raised its holdings in shares of IBERIABANK Corporation by 49.7% during the 2nd quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock valued at $19,431,000 after buying an additional 79,178 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of IBERIABANK Corporation by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock valued at $5,303,000 after buying an additional 4,205 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of IBERIABANK Corporation by 10.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 179,709 shares of the bank’s stock valued at $14,647,000 after buying an additional 17,045 shares in the last quarter. 80.60% of the stock is currently owned by institutional investors.
IBERIABANK Corporation (NASDAQ:IBKC) traded up $0.90 during mid-day trading on Friday, hitting $71.60. The stock had a trading volume of 369,900 shares, compared to its average volume of 439,791. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market cap of $3,808.62, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.37. IBERIABANK Corporation has a 12 month low of $68.55 and a 12 month high of $91.10.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, September 28th. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio (DPR) is 42.05%.
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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