Jefferies Cuts Estimates and Price Target on IberiaBank (IBKC); Paying For Growth
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Price: $43.08 --0%
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
8 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Jefferies maintains a 'Hold' on IberiaBank (NASDAQ: IBKC) price target of $48.00 (from $53.00).
Analyst, Emlen Harmon, said, "While the company continues to show enviable asset growth, it has yet to meaningful operating leverage necessary to sufficiently boost earnings growth. Our expenses estimates still leak upward as a higher expense rate in the quarter more than offsets the benefit of an announced efficiency plan. Our '12 estimate goes to $2.50 (from $2.70), and '13 goes to $3.05 (from $3.25)."
For an analyst ratings summary and ratings history on IberiaBank click here. For more ratings news on IberiaBank click here.
Shares of IberiaBank closed at $45.75 yesterday.
Analyst, Emlen Harmon, said, "While the company continues to show enviable asset growth, it has yet to meaningful operating leverage necessary to sufficiently boost earnings growth. Our expenses estimates still leak upward as a higher expense rate in the quarter more than offsets the benefit of an announced efficiency plan. Our '12 estimate goes to $2.50 (from $2.70), and '13 goes to $3.05 (from $3.25)."
For an analyst ratings summary and ratings history on IberiaBank click here. For more ratings news on IberiaBank click here.
Shares of IberiaBank closed at $45.75 yesterday.
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