IBERIABANK Corp (IBKC) is Downgraded by Sandler O’Neill to Hold

IBERIABANK Corp (IBKC) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on IBERIABANK Corp. Company shares were Reiterated by FBR Capital on Sep 7, 2016 to “Outperform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .IBERIABANK Corp was Upgraded by Keefe Bruyette to ” Outperform” on Aug 17, 2016. IBERIABANK Corp was Upgraded by FIG Partners to ” Outperform” on Aug 8, 2016.

On the company’s financial health, IBERIABANK Corp reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.13. The company had revenue of $227.70 million for the quarter, compared to analysts expectations of $225.06 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

IBERIABANK Corp opened for trading at $67.73 and hit $68.78 on the upside on Monday, eventually ending the session at $68.77, with a gain of 0.76% or 0.52 points. The heightened volatility saw the trading volume jump to 317,550 shares. Company has a market cap of $2,822 M.

In a different news, on Sep 2, 2016, Elizabeth A Ardoin (SR EXECUTIVE VICE PRESIDENT) sold 2,455 shares at $68.58 per share price. According to the SEC, on Aug 30, 2016, Anthony J Restel (SEVP, CHIEF FINANCIAL OFFICER) sold 3,342 shares at $69.22 per share price. On Sep 16, 2015, Jefferson G Parker (VICE CHAIRMAN) sold 5,216 shares at $61.25 per share price, according to the Form-4 filing with the securities and exchange commission.

IBERIABANK Corporation is a financial holding company. The Company is the holding company 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); IB Aircraft Holdings LLC a holding company for the Company’s fractional investment in an aircraft 1887 Leasing LLC a holding company for its investment in a separate aircraft; IBERIA Asset Management Inc. (IAM) which provides wealth management and trust services to high net worth individuals pension funds corporations and trusts and IBERIA CDE L.L.C. (CDE) which invests in purchased tax credits. IBERIABANK offers commercial and retail banking products and services to customers throughout locations in six states including Louisiana Alabama Florida Arkansas Tennessee and Texas. The Bank operates in 314 locations with 216 bank branch offices.


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