Jefferies Group LLC Upgrades IBERIABANK Corporation (IBKC) to Buy

IBERIABANK Corporation (NASDAQ:IBKC) was upgraded by equities researchers at Jefferies Group LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $94.00 price target on the bank’s stock, up from their previous price target of $89.00. Jefferies Group LLC’s price target would suggest a potential upside of 12.91% from the stock’s current price. Jefferies Group also issued estimates for IBERIABANK Corporation’s FY2018 earnings at $5.85 EPS and FY2019 earnings at $6.30 EPS.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Tuesday, August 1st. BidaskClub downgraded shares of IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Piper Jaffray Companies restated an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK Corporation in a research note on Thursday, October 5th. Stephens set a $95.00 target price on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, JMP Securities upped their target price on shares of IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. IBERIABANK Corporation presently has an average rating of “Buy” and an average target price of $90.82.

Shares of IBERIABANK Corporation (NASDAQ:IBKC) opened at 83.25 on Monday. The stock has a 50 day moving average of $77.63 and a 200-day moving average of $79.10. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 20.29 and a beta of 1.32. IBERIABANK Corporation has a one year low of $62.66 and a one year high of $91.10.

IBERIABANK Corporation (NASDAQ:IBKC) last announced its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.02). The firm had revenue of $239.61 million during the quarter, compared to analysts’ expectations of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. On average, equities analysts anticipate that IBERIABANK Corporation will post $4.65 earnings per share for the current fiscal year.

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In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the transaction, the insider now directly owns 60,553 shares in the company, valued at approximately $4,851,506.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the transaction, the director now owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. Corporate insiders own 2.52% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in IBERIABANK Corporation by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after acquiring an additional 234 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of IBERIABANK Corporation during the second quarter worth $183,000. Nomura Holdings Inc. acquired a new stake in shares of IBERIABANK Corporation during the second quarter worth $205,000. Stephens Inc. AR acquired a new stake in shares of IBERIABANK Corporation during the first quarter worth $214,000. Finally, Karp Capital Management Corp acquired a new stake in shares of IBERIABANK Corporation during the first quarter worth $214,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

IBERIABANK Corporation Company Profile

IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.

Analyst Recommendations for IBERIABANK Corporation (NASDAQ:IBKC)

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