IBERIABANK (NASDAQ:IBKC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of IBERIABANK (NASDAQ:IBKC) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

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

A number of other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Wave Life Sciences from a buy rating to a hold rating in a research note on Tuesday, April 16th. BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. Stephens set a $100.00 target price on shares of Cullen/Frost Bankers and gave the company a hold rating in a research note on Friday, April 26th. Finally, Raymond James reiterated a buy rating on shares of Teck Resources in a research note on Thursday, April 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. IBERIABANK presently has an average rating of Hold and a consensus target price of $86.25.



IBKC traded up $0.55 during midday trading on Wednesday, reaching $76.26. The company had a trading volume of 214,700 shares, compared to its average volume of 347,261. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $4.15 billion, a PE ratio of 11.40, a PEG ratio of 1.33 and a beta of 1.50. IBERIABANK has a 12-month low of $60.82 and a 12-month high of $87.50. The business’s 50-day moving average price is $74.76.

IBERIABANK (NASDAQ:IBKC) last released its earnings results on Thursday, April 25th. The bank reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.08. The firm had revenue of $302.99 million for the quarter, compared to analysts’ expectations of $304.28 million. IBERIABANK had a net margin of 28.29% and a return on equity of 10.34%. During the same period in the previous year, the company earned $1.37 earnings per share. Analysts anticipate that IBERIABANK will post 7.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, June 27th. IBERIABANK’s payout ratio is currently 25.71%.

In other IBERIABANK news, Director John E. Koerner III purchased 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $74.81 per share, for a total transaction of $972,530.00. Following the purchase, the director now owns 7,800 shares of the company’s stock, valued at approximately $583,518. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry V. Barton, Jr. sold 6,812 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $74.47, for a total transaction of $507,289.64. Following the sale, the director now owns 29,158 shares in the company, valued at $2,171,396.26. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.

Several hedge funds have recently made changes to their positions in IBKC. 361 Capital LLC increased its holdings in IBERIABANK by 9.3% during the 1st quarter. 361 Capital LLC now owns 39,037 shares of the bank’s stock worth $2,799,000 after acquiring an additional 3,317 shares during the period. Norges Bank bought a new stake in IBERIABANK during the 4th quarter worth approximately $34,178,000. Rothschild & Co. Asset Management US Inc. increased its holdings in IBERIABANK by 21.2% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 611,067 shares of the bank’s stock worth $43,820,000 after acquiring an additional 107,028 shares during the period. GAM Holding AG increased its holdings in IBERIABANK by 108.4% during the 1st quarter. GAM Holding AG now owns 10,983 shares of the bank’s stock worth $788,000 after acquiring an additional 5,713 shares during the period. Finally, Hodges Capital Management Inc. bought a new stake in IBERIABANK during the 1st quarter worth approximately $215,000. Institutional investors own 84.13% of the company’s stock.

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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