IBERIABANK Corp (IBKC) Given Average Rating of “Buy” by Brokerages

IBERIABANK Corp (NASDAQ:IBKC) has received an average recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $87.00.

Several analysts have commented on the stock. BidaskClub raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Zacks Investment Research raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Stephens set a $90.00 price target on shares of IBERIABANK and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th.

In other IBERIABANK news, 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 sale, the insider now directly owns 6,654 shares of the company’s stock, valued at $500,181.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ricky E. Maples purchased 1,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $75.25 per share, with a total value of $75,250.00. Following the completion of the transaction, the director now owns 7,100 shares of the company’s stock, valued at approximately $534,275. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 2,551 shares of company stock valued at $195,319. Insiders own 2.65% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in IBKC. Oppenheimer Asset Management Inc. acquired a new position in shares of IBERIABANK during the fourth quarter valued at about $53,000. Toronto Dominion Bank acquired a new position in shares of IBERIABANK during the fourth quarter valued at about $65,000. IFP Advisors Inc increased its holdings in shares of IBERIABANK by 25.8% during the fourth quarter. IFP Advisors Inc now owns 1,851 shares of the bank’s stock valued at $119,000 after acquiring an additional 380 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of IBERIABANK by 20.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,892 shares of the bank’s stock valued at $122,000 after acquiring an additional 319 shares in the last quarter. Finally, First Mercantile Trust Co. increased its holdings in shares of IBERIABANK by 22.2% during the fourth quarter. First Mercantile Trust Co. now owns 2,632 shares of the bank’s stock valued at $169,000 after acquiring an additional 479 shares in the last quarter. 86.91% of the stock is owned by institutional investors and hedge funds.

NASDAQ:IBKC opened at $79.66 on Friday. IBERIABANK has a 1-year low of $60.82 and a 1-year high of $87.50. The stock has a market capitalization of $4.35 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.43 and a beta of 1.54. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.30.

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

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

About IBERIABANK

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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