BidaskClub upgraded shares of IBERIABANK (NASDAQ:IBKC) from a strong sell rating to a sell rating in a research report released on Tuesday, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on the stock. SunTrust Banks decreased their price objective on shares of IBERIABANK to $86.00 and set a buy rating for the company in a report on Monday, July 22nd. Stephens set a $89.00 price objective on shares of IBERIABANK and gave the stock a buy rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of IBERIABANK from a sell rating to a hold rating in a report on Wednesday, July 24th. Finally, ValuEngine upgraded shares of IBERIABANK from a sell rating to a hold rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $86.00.

Shares of NASDAQ:IBKC opened at $76.23 on Tuesday. The stock has a market capitalization of $4.01 billion, a PE ratio of 11.39, a P/E/G ratio of 1.35 and a beta of 1.55. IBERIABANK has a 1 year low of $60.82 and a 1 year high of $85.35. The firm has a fifty day moving average price of $71.48 and a 200 day moving average price of $74.68. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34.

IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings data on Friday, July 19th. The bank reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.05. The firm had revenue of $315.18 million during the quarter, compared to analysts’ expectations of $313.34 million. IBERIABANK had a net margin of 29.38% and a return on equity of 10.33%. IBERIABANK’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 earnings per share. On average, sell-side analysts forecast that IBERIABANK will post 7.12 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, September 27th. IBERIABANK’s dividend payout ratio is 25.71%.

In other IBERIABANK news, CEO Daryl G. Byrd sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.44, for a total transaction of $422,640.00. Following the completion of the sale, the chief executive officer now directly owns 254,281 shares in the company, valued at $17,911,553.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Jefferson G. Parker sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $75.87, for a total transaction of $758,700.00. Following the sale, the insider now owns 38,529 shares of the company’s stock, valued at $2,923,195.23. The disclosure for this sale can be found here. Insiders have sold 34,050 shares of company stock valued at $2,584,943 over the last 90 days. Corporate insiders own 2.65% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBKC. Captrust Financial Advisors lifted its stake in shares of IBERIABANK by 43.8% in the second quarter. Captrust Financial Advisors now owns 509 shares of the bank’s stock valued at $39,000 after buying an additional 155 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of IBERIABANK by 38.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 726 shares of the bank’s stock valued at $55,000 after buying an additional 203 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of IBERIABANK in the second quarter valued at about $64,000. Advisor Group Inc. lifted its stake in shares of IBERIABANK by 7.0% in the second quarter. Advisor Group Inc. now owns 2,754 shares of the bank’s stock valued at $209,000 after buying an additional 180 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of IBERIABANK in the second quarter valued at about $237,000. Institutional investors and hedge funds own 84.87% of the company’s stock.

IBERIABANK Company Profile

IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.

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