Stephens set a $89.00 price objective on IBERIABANK (NASDAQ:IBKC) in a report issued on Friday morning, TipRanks reports. The firm currently has a buy rating on the bank’s stock.
Other equities research analysts also recently issued research reports about the company. Raymond James reaffirmed a buy rating on shares of Teck Resources in a report on Thursday, April 4th. SunTrust Banks decreased their price target on IBERIABANK to $86.00 and set a buy rating for the company in a report on Monday. ValuEngine downgraded Wave Life Sciences from a buy rating to a hold rating in a report on Tuesday, April 16th. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research raised Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. IBERIABANK has a consensus rating of Hold and an average price target of $86.00.
Shares of IBERIABANK stock traded up $1.18 on Friday, reaching $76.38. 211,719 shares of the stock were exchanged, compared to its average volume of 344,451. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.94 and a quick ratio of 0.93. IBERIABANK has a twelve month low of $60.82 and a twelve month high of $87.50. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50. The company has a 50 day simple moving average of $75.24.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 27th. 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 yield of 2.36%. IBERIABANK’s payout ratio is presently 25.71%.
In other news, Vice Chairman Jefferson G. Parker sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $75.87, for a total transaction of $758,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry V. Barton, Jr. sold 6,812 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $74.47, for a total value of $507,289.64. Following the transaction, the director now directly owns 29,158 shares of the company’s stock, valued at $2,171,396.26. The disclosure for this sale can be found here. Insiders own 2.65% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Clearbridge Investments LLC raised its stake in shares of IBERIABANK by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 29,767 shares of the bank’s stock worth $2,135,000 after buying an additional 263 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of IBERIABANK by 20.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,892 shares of the bank’s stock worth $122,000 after buying an additional 319 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in shares of IBERIABANK by 2.8% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 12,671 shares of the bank’s stock worth $920,000 after buying an additional 340 shares during the period. Rhumbline Advisers raised its stake in shares of IBERIABANK by 0.5% during the 1st quarter. Rhumbline Advisers now owns 83,913 shares of the bank’s stock worth $6,017,000 after buying an additional 411 shares during the period. Finally, Cerebellum GP LLC raised its stake in shares of IBERIABANK by 16.4% during the 1st quarter. Cerebellum GP LLC now owns 4,622 shares of the bank’s stock worth $331,000 after buying an additional 652 shares during the period. 84.11% of the stock is owned by institutional investors and hedge funds.
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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