IBERIABANK (IBKC) Downgraded by Zacks Investment Research

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IBERIABANK (NASDAQ:IBKC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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

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

NASDAQ IBKC opened at $73.91 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. IBERIABANK has a 12 month low of $68.55 and a 12 month high of $87.55. The company has a market capitalization of $4.01 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings results on Friday, October 19th. The bank reported $1.74 EPS for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.06. The company had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. IBERIABANK had a return on equity of 9.44% and a net margin of 18.32%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. As a group, equities analysts forecast that IBERIABANK will post 6.57 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Simplex Trading LLC purchased a new stake in shares of IBERIABANK during the 3rd quarter worth approximately $105,000. First Mercantile Trust Co. purchased a new stake in shares of IBERIABANK during the 2nd quarter worth approximately $117,000. Stokes & Hubbell Capital Management LLC purchased a new stake in shares of IBERIABANK during the 3rd quarter worth approximately $205,000. First Republic Investment Management Inc. purchased a new stake in shares of IBERIABANK during the 2nd quarter worth approximately $224,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of IBERIABANK during the 3rd quarter worth approximately $231,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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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