IBERIABANK Corp (IBKC) is Reiterated by FBR Capital to Outperform, Raises Price Target to $ 73

IBERIABANK Corp (IBKC) was Reiterated by FBR Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 73 from a previous price target of $70 . FBR Capital advised their investors in a research report released on Sep 7, 2016.

Many Wall Street Analysts have commented on IBERIABANK Corp. 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 closed down -0.38 points or -0.55% at $68.39 with 2,57,650 shares getting traded on Thursday. Post opening the session at $68.86, the shares hit an intraday low of $67.49 and an intraday high of $69.04 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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