The stock of IBERIABANK Corp (NASDAQ:IBKC) hit a new 52-week high and has $97.78 target or 40.00% above today’s $69.84 share price. The 5 months bullish chart indicates low risk for the $2.90B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $97.78 price target is reached, the company will be worth $1.16B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 49,002 shares traded hands. IBERIABANK Corp (NASDAQ:IBKC) has risen 34.02% since March 4, 2016 and is uptrending. It has outperformed by 25.98% the S&P500.
Analysts await IBERIABANK Corp (NASDAQ:IBKC) to report earnings on October, 19. They expect $1.20 EPS, up 12.15% or $0.13 from last year’s $1.07 per share. IBKC’s profit will be $49.83M for 14.55 P/E if the $1.20 EPS becomes a reality. After $1.18 actual EPS reported by IBERIABANK Corp for the previous quarter, Wall Street now forecasts 1.69% EPS growth.
IBERIABANK Corp (NASDAQ:IBKC) Ratings Coverage
Out of 8 analysts covering IberiaBank (NASDAQ:IBKC), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $73 is the highest target while $60 is the lowest. The $65.67 average target is -5.97% below today’s ($69.84) stock price. IberiaBank has been the topic of 13 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The rating was upgraded by Sandler O’Neill on Thursday, October 1 to “Buy”. The company was upgraded on Wednesday, August 17 by Wood. FBR Capital maintained IBERIABANK Corp (NASDAQ:IBKC) on Friday, April 29 with “Outperform” rating. As per Wednesday, September 7, the company rating was maintained by FBR Capital. The firm earned “Market Perform” rating on Tuesday, January 19 by Hovde Group. The rating was downgraded by Piper Jaffray to “Neutral” on Thursday, January 7. FBR Capital initiated IBERIABANK Corp (NASDAQ:IBKC) rating on Thursday, March 31. FBR Capital has “Outperform” rating and $61 price target. Raymond James upgraded IBERIABANK Corp (NASDAQ:IBKC) on Tuesday, August 25 to “Mkt Perform” rating. The rating was downgraded by Sandler O’Neill to “Hold” on Tuesday, September 13.
According to Zacks Investment Research, “IBERIABANK Corporation is a commercial bank holding company.”
Insitutional Activity: The institutional sentiment decreased to 1.32 in 2016 Q2. Its down 0.07, from 1.39 in 2016Q1. The ratio dived, as 18 funds sold all IBERIABANK Corp shares owned while 57 reduced positions. 29 funds bought stakes while 70 increased positions. They now own 32.06 million shares or 3.79% more from 30.89 million shares in 2016Q1.
Swiss Bank & Trust accumulated 67,223 shares or 0.01% of the stock. Tiverton Asset Ltd Liability Com holds 1.22M shares or 1.68% of its portfolio. Hodges Inc last reported 6,750 shares in the company. Hsbc Hldgs Pcl holds 0% or 4,841 shares in its portfolio. Cubist Systematic Strategies Ltd Liability Company accumulated 3,700 shares or 0.01% of the stock. Moreover, Blackrock Grp has 0% invested in IBERIABANK Corp (NASDAQ:IBKC) for 50,552 shares. Raymond James And has 64,983 shares for 0.01% of their US portfolio. Seaward Mngmt Lp has 229,584 shares for 0.75% of their US portfolio. Mesirow Financial Invest Mgmt has 0.95% invested in the company for 274,065 shares. Glenmede Trust Na owns 2,093 shares or 0% of their US portfolio. Axa has 7,450 shares for 0% of their US portfolio. Amalgamated Financial Bank owns 4,472 shares or 0.02% of their US portfolio. Loomis Sayles And Ltd Partnership has 325,883 shares for 0.05% of their US portfolio. Parametric Associates Ltd Liability Co holds 0.01% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 79,921 shares. Ameriprise Fincl Inc owns 50,272 shares or 0% of their US portfolio.
Insider Transactions: Since August 29, 2016, the stock had 0 insider buys, and 3 selling transactions for $981,948 net activity. 3,342 shares with value of $231,333 were sold by Restel Anthony J on Monday, August 29. 2,455 shares with value of $168,364 were sold by ARDOIN ELIZABETH A on Friday, September 2. 8,560 shares with value of $582,251 were sold by DAVIS JOHN R on Monday, September 19.
More news for IBERIABANK Corp (NASDAQ:IBKC) were recently published by: Prnewswire.com, which released: “IBERIABANK Corporation Names Rick E. Maples And Dr. Eli Jones To Board Of …” on June 27, 2016. Prnewswire.com‘s article titled: “IBERIABANK Corporation Completes Acquisition of Georgia Commerce Bancshares, Inc.” and published on June 01, 2015 is yet another important article.
IBKC Company Profile
IBERIABANK Corporation, incorporated on November 21, 1994, is a financial holding company. The Firm is the holding firm for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners, LLC, a corporate finance services firm (ICP); 1887 Leasing, LLC, a holding firm for its aircraft; IBERIA Asset Management, Inc. (IAM), which provides wealth management and trust services to high net worth individuals, pension funds, firms and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE L.L.C. (CDE), which invests in purchased tax credits. IBERIABANK offers commercial and retail banking services and products to clients throughout locations in over seven states, including Louisiana, Alabama, Florida, Arkansas, Tennessee, and Texas. It operates over 320 combined offices, including over 220 bank branch offices and over three loan production offices in Louisiana, Arkansas, Florida, Alabama, Tennessee, and Texas; over 20 title insurance offices in Arkansas and Louisiana; mortgage representatives in over 70 locations in over 10 states; over eight wealth management locations in over five states, and one IBERIA Capital Partners L.L.C. office in Louisiana.
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