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Upgrade Alert for Iberiabank (IBKC)

By James Quinn

Iberiabank (NASDAQ:IBKC) was upgraded from Market Perform to Outperform at Fig Partners today. The stock closed yesterday at $64.26 on volume of 250,000 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.

Iberiabank share prices have moved between a 52-week high of $72.41 and a 52-week low of $42.20 and closed yesterday at 52% above that low price at $64.26 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.4%.

Iberiabank has overhead space with shares priced $64.26, or 3.1% below the average consensus analyst price target of $66.33. The stock should find initial support at its 200-day moving average (MA) of $56.25 and further support at its 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 4.8%. 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

Ticker(s): IBKC