IBERIABANK (NASDAQ:IBKC) PT Set at $89.00 by Stephens

IBERIABANK (NASDAQ:IBKC) received a $89.00 price target from analysts at Stephens in a report issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the bank’s stock. Stephens’ price objective suggests a potential upside of 16.52% from the stock’s previous close.

IBKC has been the subject of several other reports. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. ValuEngine cut Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, July 16th. SunTrust Banks reduced their target price on IBERIABANK to $86.00 and set a “buy” rating for the company in a research report on Monday. Finally, Raymond James restated a “buy” rating on shares of Teck Resources in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. IBERIABANK currently has a consensus rating of “Hold” and an average price target of $86.00.

Shares of IBKC traded up $1.18 on Friday, hitting $76.38. The company’s stock had a trading volume of 211,719 shares, compared to its average volume of 344,451. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $75.24. IBERIABANK has a fifty-two week low of $60.82 and a fifty-two week high of $87.50. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50.

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, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.05. IBERIABANK had a return on equity of 10.39% and a net margin of 29.38%. The business had revenue of $315.18 million during the quarter, compared to analyst estimates of $313.34 million. During the same period in the previous year, the firm earned $1.71 EPS. IBERIABANK’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that IBERIABANK will post 7.14 EPS for the current year.

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

Several hedge funds have recently bought and sold shares of IBKC. AJO LP grew its holdings in shares of IBERIABANK by 279.6% during the 1st quarter. AJO LP now owns 804,531 shares of the bank’s stock worth $57,693,000 after acquiring an additional 592,567 shares during the period. Norges Bank purchased a new position in shares of IBERIABANK during the 4th quarter worth approximately $34,178,000. BlackRock Inc. grew its holdings in shares of IBERIABANK by 6.0% during the 1st quarter. BlackRock Inc. now owns 4,385,774 shares of the bank’s stock worth $314,504,000 after acquiring an additional 249,331 shares during the period. Rothschild & Co. Asset Management US Inc. grew its stake in shares of IBERIABANK by 21.2% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 611,067 shares of the bank’s stock worth $43,820,000 after buying an additional 107,028 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of 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 buying an additional 83,487 shares during the last quarter. Hedge funds and other institutional investors own 84.11% 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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