IBERIABANK Corp (NASDAQ:IBKC) declared a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Investors of record on Friday, June 28th will be paid a dividend of 0.43 per share by the bank on Friday, July 26th. This represents a $1.72 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, June 27th.
IBERIABANK has increased its dividend payment by an average of 3.8% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. IBERIABANK has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect IBERIABANK to earn $7.47 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 23.0%.
Shares of NASDAQ:IBKC opened at $73.56 on Wednesday. IBERIABANK has a twelve month low of $60.82 and a twelve month high of $87.50. The stock has a 50 day simple moving average of $75.68. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.99 billion, a P/E ratio of 11.00, a PEG ratio of 1.28 and a beta of 1.54.
In other news, Director John E. Koerner III acquired 13,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $74.81 per share, for a total transaction of $972,530.00. Following the acquisition, the director now owns 7,800 shares of the company’s stock, valued at approximately $583,518. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry V. Barton, Jr. sold 6,812 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $74.47, for a total value of $507,289.64. Following the completion of the transaction, the director now owns 29,158 shares in the company, valued at approximately $2,171,396.26. The disclosure for this sale can be found here. 2.65% of the stock is currently owned by company insiders.
IBKC has been the topic of a number of analyst reports. BidaskClub raised shares of IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Friday, March 29th. Zacks Investment Research cut shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Stephens set a $90.00 price target on shares of IBERIABANK and gave the company a “buy” rating in a research note on Friday, April 26th. ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Raymond James set a $85.00 price target on shares of IBERIABANK and gave the company a “buy” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. IBERIABANK currently has an average rating of “Hold” and an average price target of $86.25.
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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