The stock of IBERIABANK Corp (NASDAQ:IBKC) reached all time high today, Nov, 22 and still has $87.20 target or 9.00% above today’s $80.00 share price. This indicates more upside for the $3.35B company. This technical setup was reported by Barchart.com. If the $87.20 PT is reached, the company will be worth $301.50M 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 111,950 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. The company was downgraded on Thursday, October 27 by Raymond James. On Tuesday, September 13 the stock rating was downgraded by Sandler O’Neill to “Hold”. The firm has “Mkt Perform” rating given on Tuesday, August 25 by Raymond James. The firm earned “Overweight” rating on Friday, October 7 by Piper Jaffray. The stock has “Outperform” rating given by FBR Capital on Wednesday, September 7. On Tuesday, January 19 the stock rating was upgraded by Hovde Group to “Market Perform”. On Friday, April 29 the stock rating was maintained by FBR Capital with “Outperform”. The firm has “Neutral” rating given on Thursday, January 7 by Piper Jaffray. Sandler O’Neill upgraded IBERIABANK Corp (NASDAQ:IBKC) on Thursday, October 1 to “Buy” rating. On Thursday, March 31 the stock rating was initiated by FBR Capital with “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 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.
Swiss Retail Bank, a Switzerland-based fund reported 67,223 shares. Arcadia Invest Mngmt Mi reported 335 shares or 0.01% of all its holdings. Quantbot Technologies Lp holds 0.01% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC) for 1,302 shares. Deere Company last reported 14,930 shares in the company. Tiverton Asset Mgmt holds 1.22 million shares or 1.68% of its portfolio. Nicholas Communication Inc Wi holds 0.07% or 56,030 shares in its portfolio. Pitcairn reported 5,194 shares or 0.04% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 1,227 shares. Advisory Services Network holds 0% or 119 shares in its portfolio. Northern Trust, a Illinois-based fund reported 855,452 shares. Blackrock Mngmt Ltd Liability holds 177,061 shares or 0.01% of its portfolio. The New York-based Gotham Asset Management Lc has invested 0% in IBERIABANK Corp (NASDAQ:IBKC). Ubs Asset Mgmt Americas has invested 0% of its portfolio in IBERIABANK Corp (NASDAQ:IBKC). Millennium Mngmt accumulated 418,952 shares or 0.06% of the stock. Ftb Advsr Incorporated holds 0.01% or 620 shares in its portfolio.
Insider Transactions: Since August 29, 2016, the stock had 0 insider buys, and 6 sales for $3.91 million net activity. On Friday, November 11 the insider BYRD DARYL G sold $994,200. $582,251 worth of IBERIABANK Corp (NASDAQ:IBKC) shares were sold by DAVIS JOHN R. ARDOIN ELIZABETH A sold $168,364 worth of IBERIABANK Corp (NASDAQ:IBKC) on Friday, September 2. The insider Restel Anthony J sold 3,342 shares worth $231,333.
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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