IBERIABANK Corporation (IBKC) Price Target Increased to $95.00 by Analysts at JMP Securities
IBERIABANK Corporation (NASDAQ:IBKC) had its price target upped by JMP Securities from $94.00 to $95.00 in a report released on Tuesday morning. The firm currently has a market outperform rating on the bank’s stock.
Other research analysts have also recently issued reports about the stock. Hovde Group upgraded shares of IBERIABANK Corporation from a market perform rating to an outperform rating and set a $87.00 price target on the stock in a report on Monday, June 5th. Zacks Investment Research cut shares of IBERIABANK Corporation from a buy rating to a hold rating in a report on Wednesday, May 24th. Barclays PLC upgraded shares of IBERIABANK Corporation to an outperform rating and set a $97.00 price target on the stock in a report on Monday, May 1st. BidaskClub upgraded shares of IBERIABANK Corporation from a sell rating to a hold rating in a report on Thursday, June 29th. Finally, Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the stock a buy rating in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $86.92.
IBERIABANK Corporation (NASDAQ:IBKC) traded down 0.68% during trading on Tuesday, hitting $80.05. 291,943 shares of the stock were exchanged. IBERIABANK Corporation has a 52 week low of $60.88 and a 52 week high of $91.10. The firm has a market cap of $4.08 billion, a PE ratio of 19.51 and a beta of 1.28. The firm’s 50-day moving average is $81.05 and its 200 day moving average is $80.66.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the consensus estimate of $1.12 by $0.02. The business had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a return on equity of 7.14% and a net margin of 20.08%. Analysts expect that IBERIABANK Corporation will post $4.71 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 30th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, June 28th. IBERIABANK Corporation’s payout ratio is 35.04%.
In other IBERIABANK Corporation news, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $78.82, for a total value of $1,970,500.00. Following the transaction, the insider now directly owns 93,878 shares in the company, valued at $7,399,463.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Haddon Spurgeon Mackie, Jr. sold 4,217 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $81.86, for a total transaction of $345,203.62. Following the completion of the transaction, the executive vice president now owns 10,852 shares in the company, valued at $888,344.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,720 shares of company stock worth $5,485,713. Corporate insiders own 3.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBKC. Rothschild Asset Management Inc. bought a new position in IBERIABANK Corporation during the second quarter worth $36,923,000. Channing Capital Management LLC boosted its position in IBERIABANK Corporation by 30.9% in the second quarter. Channing Capital Management LLC now owns 602,608 shares of the bank’s stock worth $49,113,000 after buying an additional 142,421 shares during the last quarter. Russell Investments Group Ltd. boosted its position in IBERIABANK Corporation by 19.4% in the second quarter. Russell Investments Group Ltd. now owns 325,167 shares of the bank’s stock worth $26,502,000 after buying an additional 52,733 shares during the last quarter. Greylin Investment Mangement Inc. bought a new position in IBERIABANK Corporation during the second quarter worth $748,000. Finally, US Bancorp DE boosted its position in IBERIABANK Corporation by 45.4% in the second quarter. US Bancorp DE now owns 4,146 shares of the bank’s stock worth $338,000 after buying an additional 1,295 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.
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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