The stock of IBERIABANK Corp (NASDAQ:IBKC) hit a new 52-week high and has $87.07 target or 4.00% above today’s $83.72 share price. The 8 months bullish chart indicates low risk for the $3.53B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $87.07 price target is reached, the company will be worth $141.20M 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 167,728 shares traded hands. IBERIABANK Corp (NASDAQ:IBKC) has risen 40.88% since April 28, 2016 and is uptrending. It has outperformed by 34.95% the S&P500.
Analysts await IBERIABANK Corp (NASDAQ:IBKC) to report earnings on January, 25. They expect $1.15 earnings per share, up 3.60% or $0.04 from last year’s $1.11 per share. IBKC’s profit will be $48.49M for 18.20 P/E if the $1.15 EPS becomes a reality. After $1.08 actual earnings per share reported by IBERIABANK Corp for the previous quarter, Wall Street now forecasts 6.48% EPS growth.
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 rating was upgraded by Piper Jaffray to “Overweight” on Friday, October 7. On Thursday, January 7 the stock rating was downgraded by Piper Jaffray to “Neutral”. FBR Capital initiated the stock with “Outperform” rating in Thursday, March 31 report. The firm has “Buy” rating given on Thursday, October 1 by Sandler O’Neill. Wood upgraded IBERIABANK Corp (NASDAQ:IBKC) rating on Wednesday, August 17. Wood has “Outperform” rating and $72 price target. The stock of IBERIABANK Corp (NASDAQ:IBKC) has “Market Perform” rating given on Tuesday, January 19 by Hovde Group. Raymond James upgraded IBERIABANK Corp (NASDAQ:IBKC) on Tuesday, August 25 to “Mkt Perform” rating. The rating was downgraded by Raymond James to “Outperform” on Thursday, October 27. The firm has “Hold” rating by Sandler O’Neill given on Tuesday, September 13. FBR Capital maintained IBERIABANK Corp (NASDAQ:IBKC) on Friday, April 29 with “Outperform” rating.
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 worsened, 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.
Advisory Serv Networks Lc holds 0% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 119 shares. Johnson Counsel holds 1% or 506,807 shares in its portfolio. Schwab Charles Mngmt reported 148,035 shares or 0.01% of all its holdings. Vaughan David Incorporated Il holds 13,948 shares or 0.05% of its portfolio. Cornerstone Management Hldgs Limited Liability Corp, a New York-based fund reported 9,496 shares. Moreover, Prudential has 0.02% invested in IBERIABANK Corp (NASDAQ:IBKC) for 218,733 shares. Bancorporation Of Nova Scotia holds 56,159 shares or 0.02% of its portfolio. Thomas White Ltd accumulated 58 shares or 0% of the stock. Brandywine Global Inv Mngmt Ltd Limited Liability Company holds 128,724 shares or 0.05% of its portfolio. Hennessy Advsrs has invested 0.06% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC). Assetmark last reported 0% of its portfolio in the stock. Regions Finance, a Alabama-based fund reported 4,903 shares. Aqr Cap Ltd Com last reported 8,951 shares in the company. Cobblestone Cap Advsr Limited Ny holds 0.06% or 6,503 shares in its portfolio. The Virginia-based Greylin Inv Mangement has invested 0.19% in IBERIABANK Corp (NASDAQ:IBKC).
Insider Transactions: Since August 29, 2016, the stock had 0 insider purchases, and 7 insider sales for $4.03 million net activity. ARDOIN ELIZABETH A had sold 2,455 shares worth $168,364. $121,457 worth of IBERIABANK Corp (NASDAQ:IBKC) was sold by MACKIE HADDON SPURGEON JR. Restel Anthony J had sold 3,342 shares worth $231,333 on Monday, August 29. $582,251 worth of IBERIABANK Corp (NASDAQ:IBKC) was sold by DAVIS JOHN R on Monday, September 19. Shares for $994,200 were sold by BYRD DARYL G on Friday, November 11.
Another recent and important IBERIABANK Corp (NASDAQ:IBKC) news was published by Prnewswire.com which published an article titled: “IBERIABANK Corporation Names Rick E. Maples And Dr. Eli Jones To Board Of …” on June 27, 2016.
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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