Downgrade Alert for Iberiabank (IBKC)
Iberiabank (NASDAQ:IBKC) was downgraded from Buy to Hold at Sandler O'Neill today. The stock closed yesterday at $67.43 on volume of 308,000 shares, below average daily volume of 314,000.
IBERIABANK Corporation is the holding company for IBERIABANK, a commercial bank conducting business from a network of offices located throughout Louisiana. The Bank attracts deposits from the general public and uses those funds to originate consumer and commercial loans. IBERIABANK also offers discount brokerage services through a wholly owned subsidiary.
In the past 52 weeks, shares of Iberiabank have traded between a low of $42.20 and a high of $72.41 and closed yesterday at $67.43, which is 60% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.5%.
Based on a current price of $67.43, Iberiabank is currently 1.6% above its average consensus analyst price target of $66.33. Iberiabank shares have support at the 200-day moving average (MA) of $56.25 and additional support at the 50-day MA of $52.54.
SmarTrend recommended that subscribers consider buying shares of Iberiabank on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.67. Since that recommendation, shares of Iberiabank have risen 11.5%. We continue to monitor IBKC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades iberiabank