IBERIABANK Corp (IBKC) Tops Q3 EPS by 12c; Authorizes 900K Stock Buyback

IBERIABANK Corp (NASDAQ: IBKC) reported Q3 EPS of $0.70, $0.12 better than the analyst estimate of $0.58.

The Company announced today that the Board of Directors of the Company authorized the repurchase of up to 900,000 shares of the Company's outstanding common stock.

The Company routinely recalibrates its strategic goals every five years and today announced an update to the strategic overview and key financial goals for the organization. The key financial goals are as follows:

• Return on average tangible equity of 13%-17%. Measured by the end of the three to five year planning period and excluding acquisition and conversion costs.
  
  
• Tangible efficiency ratio of 60% or less. Measured by the end of the three to five year planning period and excluding acquisition and conversion costs.
  
  
• Asset quality measures in the top 10% of our peers. Measured as nonperforming assets as a percent of total assets, excluding FDIC covered assets.
  
  
• Double-digit earnings per share growth. Measured on an annual basis throughout the three to five year planning period, excluding acquisition and conversion costs.

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