IBERIABANK’s (IBKC) Sell Rating Reiterated at Iberia Capital
Iberia Capital reaffirmed their sell rating on shares of IBERIABANK (NASDAQ:IBKC) in a research note published on Tuesday, AnalystRatings.com reports.
A number of other equities research analysts also recently issued reports on the company. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. Zacks Investment Research upgraded Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price target for the company in a research note on Tuesday, July 16th. ValuEngine downgraded Wave Life Sciences from a buy rating to a hold rating in a research note on Tuesday, April 16th. Stephens set a $89.00 price target on IBERIABANK and gave the company a buy rating in a research note on Friday, July 19th. Finally, SunTrust Banks cut their price target on IBERIABANK to $86.00 and set a buy rating for the company in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. IBERIABANK currently has a consensus rating of Hold and a consensus price target of $86.00.
NASDAQ IBKC opened at $78.35 on Tuesday. IBERIABANK has a one year low of $60.82 and a one year high of $87.50. The stock has a 50-day simple moving average of $75.45. The company has a market cap of $4.19 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.93.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.45 per share. This is an increase from IBERIABANK’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, September 27th. IBERIABANK’s payout ratio is currently 25.71%.
In related news, Director John E. Koerner III acquired 13,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $74.81 per share, with a total value of $972,530.00. Following the transaction, the director now directly owns 7,800 shares in the company, valued at $583,518. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Jefferson G. Parker sold 10,000 shares of IBERIABANK stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $75.87, for a total value of $758,700.00. Following the transaction, the insider now directly owns 38,529 shares in the company, valued at $2,923,195.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,862 shares of company stock valued at $2,669,593. Corporate insiders own 2.65% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Bailard Inc. increased its position in shares of IBERIABANK by 2.8% during the 2nd quarter. Bailard Inc. now owns 7,275 shares of the bank’s stock valued at $552,000 after purchasing an additional 200 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of IBERIABANK during the 2nd quarter valued at approximately $64,000. Rothschild & Co. Asset Management US Inc. increased its position in shares of IBERIABANK by 1.7% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 621,229 shares of the bank’s stock valued at $47,120,000 after purchasing an additional 10,162 shares during the last quarter. BB&T Corp increased its position in shares of IBERIABANK by 28.4% during the 2nd quarter. BB&T Corp now owns 4,795 shares of the bank’s stock valued at $364,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Convergence Investment Partners LLC grew its position in IBERIABANK by 103.8% in the 2nd quarter. Convergence Investment Partners LLC now owns 10,034 shares of the bank’s stock valued at $761,000 after acquiring an additional 5,110 shares during the last quarter. 84.11% of the stock is currently owned by hedge funds and other institutional investors.
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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