IBERIABANK (IBKC) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of IBERIABANK (NASDAQ:IBKC) from a sell rating to a hold rating in a report released on Tuesday, April 16th, ValuEngine reports.

IBKC has been the subject of several other research reports. Zacks Investment Research raised shares of IBERIABANK from a hold rating to a buy rating and set a $84.00 target price for the company in a report on Wednesday, March 13th. Stephens raised shares of IBERIABANK from an equal rating to a weight rating and increased their price objective for the company from $78.00 to $85.00 in a report on Wednesday, December 19th. BidaskClub raised shares of IBERIABANK from a strong sell rating to a sell rating in a report on Wednesday, January 30th. Finally, Raymond James set a $85.00 price objective on shares of IBERIABANK and gave the company a buy rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $86.25.

IBERIABANK stock traded down $0.14 during mid-day trading on Tuesday, hitting $79.66. The stock had a trading volume of 338,647 shares, compared to its average volume of 361,441. The company has a market capitalization of $4.35 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.43 and a beta of 1.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 0.92. IBERIABANK has a one year low of $60.82 and a one year high of $87.50.

IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Thursday, April 25th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.08. The company had revenue of $302.99 million during the quarter, compared to the consensus estimate of $304.28 million. IBERIABANK had a net margin of 28.29% and a return on equity of 10.46%. During the same quarter in the prior year, the firm posted $1.37 EPS. Analysts forecast that IBERIABANK will post 7.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from IBERIABANK’s previous quarterly dividend of $0.41. IBERIABANK’s dividend payout ratio is 25.71%.

In related news, insider Haddon Spurgeon Mackie, Jr. sold 1,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $77.61, for a total value of $77,610.00. Following the completion of the transaction, the insider now owns 10,860 shares of the company’s stock, valued at approximately $842,844.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Scott Price sold 551 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $75.17, for a total transaction of $41,418.67. Following the completion of the transaction, the insider now directly owns 6,654 shares of the company’s stock, valued at approximately $500,181.18. The disclosure for this sale can be found here. Insiders have sold a total of 2,551 shares of company stock valued at $195,319 in the last three months. Insiders own 2.65% of the company’s stock.

Several large investors have recently made changes to their positions in IBKC. Advisor Group Inc. raised its position in IBERIABANK by 280.2% in the 1st quarter. Advisor Group Inc. now owns 2,574 shares of the bank’s stock worth $185,000 after purchasing an additional 1,897 shares during the period. BlackRock Inc. raised its position in IBERIABANK by 6.0% in the 1st quarter. BlackRock Inc. now owns 4,385,774 shares of the bank’s stock worth $314,504,000 after purchasing an additional 249,331 shares during the period. Monarch Partners Asset Management LLC raised its position in IBERIABANK by 17.8% in the 1st quarter. Monarch Partners Asset Management LLC now owns 110,388 shares of the bank’s stock worth $7,916,000 after purchasing an additional 16,705 shares during the period. Acadian Asset Management LLC raised its position in IBERIABANK by 216.8% in the 1st quarter. Acadian Asset Management LLC now owns 122,003 shares of the bank’s stock worth $8,747,000 after purchasing an additional 83,487 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in IBERIABANK by 10.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 113,360 shares of the bank’s stock worth $8,129,000 after purchasing an additional 10,447 shares during the period. 86.91% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Story: Bond

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for IBERIABANK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK and related companies with MarketBeat.com's FREE daily email newsletter.