The stock of IBERIABANK Corp (NASDAQ:IBKC) reached all time high today, Nov, 10 and still has $111.69 target or 53.00% above today’s $73.00 share price. This indicates more upside for the $3.14 billion company. This technical setup was reported by Barchart.com. If the $111.69 PT is reached, the company will be worth $1.66B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 172,380 shares traded hands. IBERIABANK Corp (NASDAQ:IBKC) has risen 43.84% since April 8, 2016 and is uptrending. It has outperformed by 38.19% the S&P500.
IBERIABANK Corp (NASDAQ:IBKC) Ratings Coverage
Out of 8 analysts covering IberiaBank (NASDAQ:IBKC), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. IberiaBank has been the topic of 15 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The stock of IBERIABANK Corp (NASDAQ:IBKC) has “Market Perform” rating given on Tuesday, January 19 by Hovde Group. The firm has “Mkt Perform” rating by Raymond James given on Tuesday, August 25. The firm has “Hold” rating by Sandler O’Neill given on Tuesday, September 13. The rating was downgraded by Raymond James to “Outperform” on Thursday, October 27. The stock has “Outperform” rating given by FBR Capital on Thursday, March 31. The company was upgraded on Wednesday, August 17 by Wood. On Thursday, October 1 the stock rating was upgraded by Sandler O’Neill to “Buy”. The firm has “Overweight” rating given on Friday, October 7 by Piper Jaffray. The firm earned “Neutral” rating on Thursday, January 7 by Piper Jaffray. FBR Capital maintained the stock with “Outperform” rating in Friday, April 29 report.
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 is negative, 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.
Mackenzie Fin Corp holds 0.34% or 994,000 shares in its portfolio. Jpmorgan Chase, a New York-based fund reported 1.02 million shares. Pnc Financial Services accumulated 3,344 shares or 0% of the stock. Blackrock Advsrs Limited Liability Co accumulated 176,747 shares or 0.01% of the stock. Moreover, Arcadia Inv Mngmt Corporation Mi has 0.01% invested in IBERIABANK Corp (NASDAQ:IBKC) for 335 shares. Jacobs Asset Management Ltd Llc has invested 1.16% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC). Finemark Commercial Bank last reported 932 shares in the company. Palisade Mngmt Limited Liability Nj, a New Jersey-based fund reported 186,584 shares. Tiverton Asset Mgmt Ltd, a Delaware-based fund reported 1.22 million shares. Us Bancorp De has invested 0% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC). Millennium holds 0.06% or 418,952 shares in its portfolio. Fdx Advisors holds 0.02% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 8,100 shares. Jacobs Levy Equity, a New Jersey-based fund reported 12,040 shares. Blackrock Invest Mngmt Ltd holds 0.01% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 177,061 shares. Atlanta Mngmt L L C, a Georgia-based fund reported 444,409 shares.
Insider Transactions: Since August 29, 2016, the stock had 0 buys, and 4 insider sales for $1.80 million net activity. On Wednesday, November 9 the insider BYRD DARYL G sold $822,080. Restel Anthony J also sold $231,333 worth of IBERIABANK Corp (NASDAQ:IBKC) shares. 8,560 shares were sold by DAVIS JOHN R, worth $582,251 on Monday, September 19. Shares for $168,364 were sold by ARDOIN ELIZABETH A.
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. Reuters.com‘s article titled: “BRIEF-IBERIABANK Corp Q3 earnings per share $1.08” and published on October 26, 2016 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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