Keefe, Bruyette & Woods Downgrades IberiaBank (IBKC) to Market Perform; Earnings Ramp Is More of a 2012 Story

Keefe, Bruyette & Woods downgraded IberiaBank (NASDAQ: IBKC) from Outperform to Market Perform. PT cut to $65.

KBW said, "We are transferring coverage of Iberia to Catherine Mealor from Jefferson Harralson. We are lowering our 12-month price target to $65 from $75, lowering 2011-2013 EPS estimates to $2.28, $3.50 and $4.52 (from $2.95, $3.80 and $4.55) which include the expected impact from pending acquisitions, and are downgrading the shares to Market Perform."

For more ratings news on IberiaBank click here and for the rating history of IberiaBank click here.

Shares of IberiaBank closed at $59.18 yesterday.

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