IBERIABANK (IBKC) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of IBERIABANK (NASDAQ:IBKC) from a buy rating to a hold rating in a research report report published on Wednesday.

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

Several other analysts have also recently weighed in on IBKC. ValuEngine raised shares of IBERIABANK from a sell rating to a hold rating in a research note on Thursday, July 19th. BidaskClub cut shares of IBERIABANK from a hold rating to a sell rating in a research note on Tuesday, July 3rd. Finally, Stephens set a $91.00 price objective on shares of IBERIABANK and gave the stock a hold rating in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $92.33.

NASDAQ IBKC traded up $1.00 on Wednesday, reaching $75.88. The company’s stock had a trading volume of 427,441 shares, compared to its average volume of 461,992. The stock has a market cap of $4.17 billion, a P/E ratio of 12.11, a PEG ratio of 1.42 and a beta of 1.36. IBERIABANK has a 52 week low of $68.55 and a 52 week high of $87.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38.

IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Friday, October 19th. The bank reported $1.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.06. The business had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. IBERIABANK had a net margin of 18.32% and a return on equity of 9.44%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Research analysts anticipate that IBERIABANK will post 6.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.16%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, December 28th. IBERIABANK’s dividend payout ratio is currently 34.90%.

A number of institutional investors have recently modified their holdings of IBKC. Simplex Trading LLC bought a new stake in IBERIABANK during the third quarter worth about $105,000. First Mercantile Trust Co. acquired a new position in shares of IBERIABANK during the second quarter worth approximately $117,000. Valeo Financial Advisors LLC lifted its position in shares of IBERIABANK by 127.2% during the third quarter. Valeo Financial Advisors LLC now owns 2,079 shares of the bank’s stock worth $155,000 after purchasing an additional 1,164 shares in the last quarter. Stokes & Hubbell Capital Management LLC acquired a new position in shares of IBERIABANK during the third quarter worth approximately $205,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of IBERIABANK during the second quarter worth approximately $224,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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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