IBERIABANK (IBKC) Upgraded to “Sell” at BidaskClub

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IBERIABANK (NASDAQ:IBKC) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.

Several other brokerages also recently issued reports on IBKC. Zacks Investment Research downgraded IBERIABANK from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a report on Friday, August 3rd. ValuEngine downgraded IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Stephens set a $91.00 target price on IBERIABANK and gave the company a “hold” rating in a research note on Friday, October 19th. Two analysts have 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. The stock presently has an average rating of “Hold” and a consensus target price of $92.33.

Shares of NASDAQ IBKC opened at $74.49 on Thursday. IBERIABANK has a 12-month low of $68.55 and a 12-month high of $87.55. The firm has a market capitalization of $4.01 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.41 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93.

IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Friday, October 19th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.06. IBERIABANK had a return on equity of 9.44% and a net margin of 18.32%. The firm had revenue of $312.30 million during the quarter, compared to the consensus estimate of $311.77 million. During the same period in the prior year, the firm earned $1.00 EPS. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts forecast that IBERIABANK will post 6.58 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its stake in shares of IBERIABANK by 23.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 14,246 shares of the bank’s stock valued at $1,159,000 after acquiring an additional 2,750 shares in the last quarter. WBI Investments Inc. acquired a new stake in shares of IBERIABANK during the third quarter valued at about $4,810,000. Frontier Capital Management Co. LLC grew its stake in shares of IBERIABANK by 41.0% during the third quarter. Frontier Capital Management Co. LLC now owns 138,474 shares of the bank’s stock valued at $11,265,000 after acquiring an additional 40,276 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in shares of IBERIABANK during the third quarter valued at about $732,000. Finally, First Trust Advisors LP grew its stake in shares of IBERIABANK by 2.5% during the third quarter. First Trust Advisors LP now owns 91,724 shares of the bank’s stock valued at $7,462,000 after acquiring an additional 2,252 shares in the last quarter. Institutional investors own 86.64% 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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Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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