Cuts Rating On IBERIABANK Corporation (IBKC)

Lloyd Doyle
October 21, 2017

A few investment firms have issued ratings on IBKC of late. Moreover, Investment Mngmt Of Virginia Ltd Liability Corporation has 2.32% invested in IBERIABANK Corp (NASDAQ:IBKC). Los Angeles Mgmt Equity Research Incorporated has invested 0% in IBERIABANK Corp (NASDAQ:IBKC). The legal version of this article can be viewed at https://stocknewstimes.com/2017/10/20/stephens-reiterates-equal-weight-rating-for-iberiabank-corporation-ibkc.html.

12/02/2016 - IBERIABANK Corporation was upgraded to "buy" by analysts at Sandler O'Neill. JMP Securities upped their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 25th.

10/05/2017 - Piper Jaffray began new coverage on IBERIABANK Corporation giving the company a "overweight" rating. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company's stock. The stock tapped a 52-week high of US$45.96 while the mean 12-month price target for the shares is US$46.25. IBERIABANK Corp (NASDAQ:IBKC) has risen 31.12% since October 19, 2016 and is uptrending. About 4,048 shares traded. The firm has a 50-day moving average of $78.56 and a 200 day moving average of $79.25. The corporation has a market cap of US$4.33 Billion. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.20 by $0.12. The company had revenue of $270.19 million during the quarter, compared to analysts' expectations of $276.02 million. During the same period in the previous year, the company earned $1.08 EPS. Analysts expect that IBERIABANK Corporation will post $4.62 EPS for the current fiscal year. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & worldwide trademark & copyright laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/20/iberiabank-corporation-ibkc-cut-to-sell-at-zacks-investment-research.html.

The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Days to cover decreased from 2.0 to 2.0 and the percentage of shorted shares is 0.01% as of September 29. The ex-dividend date is set for Thursday the 28th of September 2017. This dividend represents a yield of $1.86. Moreover, Fdx Advisors Inc has 0.01% invested in IBERIABANK Corp (NASDAQ:IBKC) for 4,815 shares.


If approved, it would be IberiaBank Corp.'s second acquisition of a South Florida bank this year. Jefferies has "Hold" rating and $89.0 target. 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 period. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. They now have a Dollars 87 price target on the stock. The disclosure for this sale can be found here.

Several other brokerages also recently weighed in on IBKC. Vanguard Group Inc. grew its holdings in shares of IBERIABANK Corporation by 1.3% during the 2nd quarter.

The simple moving average is the most common method used to calculate the moving average of prices. The total value of its holdings increased 5.8%. Stifel Corporation accumulated 440,780 shares or 0.04% of the stock. Northern Trust Corp grew its holdings in shares of IBERIABANK Corporation by 18.0% during the 2nd quarter. National Bank & Trust Of New York Mellon Corp holds 0.01% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 536,401 shares. FMR LLC now owns 724,652 shares of the bank's stock worth $59,059,000 after purchasing an additional 148,952 shares during the period. Institutional investors own 83.12% of the company's stock.

Mesirow Financial Investment Management Us Value Equity acquired 21,705 shares as Iberiabank Corp (IBKC)'s stock declined 7.92%.

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