IBERIABANK (IBKC) Upgraded by BidaskClub to Buy
BidaskClub upgraded shares of IBERIABANK (NASDAQ:IBKC) from a hold rating to a buy rating in a research report sent to investors on Tuesday.
Several other equities analysts have also recently commented on IBKC. ValuEngine upgraded IBERIABANK from a hold rating to a buy rating in a research report on Tuesday, September 26th. Zacks Investment Research upgraded IBERIABANK from a hold rating to a buy rating and set a $89.00 target price for the company in a research report on Thursday, September 28th. Piper Jaffray Companies restated an overweight rating and set a $89.00 target price on shares of IBERIABANK in a research report on Thursday, October 5th. Jefferies Group upgraded IBERIABANK from a hold rating to a buy rating and boosted their target price for the stock from $89.00 to $94.00 in a research report on Monday, October 9th. Finally, Stephens cut IBERIABANK from an overweight rating to an equal weight rating in a research report on Friday, October 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $89.27.
IBERIABANK (IBKC) traded down $0.45 during trading on Tuesday, reaching $82.00. The company had a trading volume of 416,300 shares, compared to its average volume of 452,840. IBERIABANK has a twelve month low of $68.55 and a twelve month 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 stock has a market capitalization of $4,441.59, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.37.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be issued a $0.37 dividend. 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 payout ratio is currently 42.05%.
In other news, Director William H. Fenstermaker acquired 2,500 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the acquisition, the director now owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John R. Davis sold 3,263 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the transaction, the insider now owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of IBKC. State Street Corp lifted its stake in shares of IBERIABANK by 20.2% in the 2nd quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after acquiring an additional 428,968 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of IBERIABANK by 323.3% in the 2nd quarter. Teachers Advisors LLC now owns 363,805 shares of the bank’s stock valued at $29,650,000 after acquiring an additional 277,851 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of IBERIABANK by 36.7% in the 3rd quarter. Victory Capital Management Inc. now owns 856,845 shares of the bank’s stock valued at $70,390,000 after acquiring an additional 229,900 shares during the last quarter. Thrivent Financial For Lutherans bought a new stake in shares of IBERIABANK in the 2nd quarter valued at about $16,352,000. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of IBERIABANK in the 3rd quarter valued at about $14,888,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.
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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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