Zacks Investment Research upgraded shares of IBERIABANK (NASDAQ:IBKC) from a strong sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “IBERIABANK Corporation is a commercial bank holding company. “

Other equities analysts have also recently issued research reports about the company. Raymond James Financial reiterated an outperform rating on shares of IBERIABANK in a research report on Wednesday. Robert W. Baird cut IBERIABANK from an outperform rating to a neutral rating and dropped their target price for the stock from $97.00 to $78.00 in a research report on Monday, October 23rd. Iberia Capital cut IBERIABANK from a strong-buy rating to an outperform rating in a research report on Wednesday. SunTrust Banks upgraded IBERIABANK from a hold rating to a buy rating in a research report on Tuesday, November 28th. Finally, Piper Jaffray Companies reiterated an overweight rating and set a $89.00 target price on shares of IBERIABANK in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $89.27.

IBERIABANK (NASDAQ IBKC) traded down $0.25 on Wednesday, reaching $78.45. The company’s stock had a trading volume of 1,199,700 shares, compared to its average volume of 447,538. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4,239.58, a P/E ratio of 18.39, a PEG ratio of 2.31 and a beta of 1.37. IBERIABANK has a 12-month low of $68.55 and a 12-month high of $87.30.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). The company had revenue of $270.19 million for the quarter, compared to analysts’ expectations of $276.02 million. IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 earnings per share. analysts predict that IBERIABANK will post 4.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s payout ratio is 42.05%.

In related news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total value of $390,900.00. Following the sale, the director now owns 27,963 shares in the company, valued at approximately $2,186,147.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Fenstermaker purchased 2,500 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average price of $71.81 per share, for a total transaction of $179,525.00. Following the acquisition, the director now owns 43,242 shares in the company, valued at $3,105,208.02. The disclosure for this purchase can be found here. Corporate insiders own 3.17% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of IBERIABANK by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,141,740 shares of the bank’s stock worth $337,551,000 after acquiring an additional 52,383 shares during the period. State Street Corp grew its holdings 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 worth $208,292,000 after acquiring an additional 428,968 shares during the period. Northern Trust Corp grew its holdings in shares of IBERIABANK by 18.0% in the 2nd quarter. Northern Trust Corp now owns 1,104,662 shares of the bank’s stock worth $90,030,000 after acquiring an additional 168,174 shares during the period. Victory Capital Management Inc. grew its holdings 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 worth $70,390,000 after acquiring an additional 229,900 shares during the period. Finally, FMR LLC grew its holdings in IBERIABANK by 25.9% during the 2nd quarter. FMR LLC now owns 724,652 shares of the bank’s stock valued at $59,059,000 after buying an additional 148,952 shares during the last quarter. Institutional investors and hedge funds own 80.40% 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.

Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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