Price Action Alert: Is Buying IBERIABANK Corp Here a Winning Strategy?

Price Action Alert: Is Buying IBERIABANK Corp Here a Winning Strategy?

The stock of IBERIABANK Corp (NASDAQ:IBKC) hit a new 52-week high and has $82.25 target or 3.00% above today’s $79.85 share price. The 6 months bullish chart indicates low risk for the $3.34B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $82.25 price target is reached, the company will be worth $100.20 million 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 70,746 shares traded hands. IBERIABANK Corp (NASDAQ:IBKC) has risen 41.45% since April 20, 2016 and is uptrending. It has outperformed by 36.90% 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. Piper Jaffray upgraded IBERIABANK Corp (NASDAQ:IBKC) on Friday, October 7 to “Overweight” rating. The rating was downgraded by Sandler O’Neill to “Hold” on Tuesday, September 13. The rating was upgraded by Hovde Group on Tuesday, January 19 to “Market Perform”. The company was maintained on Wednesday, September 7 by FBR Capital. Raymond James upgraded IBERIABANK Corp (NASDAQ:IBKC) on Tuesday, August 25 to “Mkt Perform” rating. FBR Capital initiated the shares of IBKC in a report on Thursday, March 31 with “Outperform” rating. As per Thursday, January 7, the company rating was downgraded by Piper Jaffray. The stock of IBERIABANK Corp (NASDAQ:IBKC) has “Outperform” rating given on Thursday, October 27 by Raymond James. FBR Capital maintained the stock with “Outperform” rating in Friday, April 29 report. On Wednesday, August 17 the stock rating was upgraded by Wood to “Outperform”.

According to Zacks Investment Research, “IBERIABANK Corporation is a commercial bank holding company.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.21, from 1.32 in 2016Q1. The ratio dropped, 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.
Bnp Paribas Arbitrage holds 0% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 2,059 shares. The Illinois-based Thomas White has invested 0% in IBERIABANK Corp (NASDAQ:IBKC). Estabrook Capital Mgmt has 1,924 shares for 0% of their US portfolio. Principal Fincl Gru Incorporated holds 0.04% or 465,917 shares in its portfolio. Hancock Hldg Communications last reported 0.04% of its portfolio in the stock. Moreover, Piermont has 0.69% invested in IBERIABANK Corp (NASDAQ:IBKC) for 44,454 shares. Renaissance Technologies Ltd Liability Corp holds 0.02% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 193,300 shares. Bank Of Nova Scotia last reported 0.02% of its portfolio in the stock. Voya Invest Management Ltd Co accumulated 0% or 15,285 shares. Rhumbline Advisers accumulated 0.01% or 51,043 shares. Atlanta Cap Company L L C, a Georgia-based fund reported 444,409 shares. Blackrock Advisors Ltd Co last reported 0.01% of its portfolio in the stock. Bank & Trust Of Ny Mellon last reported 731,424 shares in the company. The Massachusetts-based Wellington Management Group Incorporated Limited Liability Partnership has invested 0.01% in IBERIABANK Corp (NASDAQ:IBKC). Public Employees Retirement Association Of Colorado holds 0% or 7,456 shares in its portfolio.

Insider Transactions: Since August 29, 2016, the stock had 0 insider purchases, and 6 insider sales for $3.91 million net activity. Another trade for 8,560 shares valued at $582,251 was sold by DAVIS JOHN R. 11,744 shares were sold by BYRD DARYL G, worth $822,080. 3,342 shares were sold by Restel Anthony J, worth $231,333. $168,364 worth of shares were sold by ARDOIN ELIZABETH A on Friday, September 2.

More news for IBERIABANK Corp (NASDAQ:IBKC) were recently published by: Marketwatch.com, which released: “IBERIABANK Corp.” on May 20, 2009. Prnewswire.com‘s article titled: “IBERIABANK Corporation Names Rick E. Maples And Dr. Eli Jones To Board Of …” and published on June 27, 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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