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Fly News Breaks for October 22, 2019
IBKC
Oct 22, 2019 | 09:19 EDT
As previously reported, Sandler O'Neill analyst Stephen Scouten downgraded Iberiabank to Hold from Buy with a price target of $76, down from $86. While the company's Q3 results beat expectations on strong fee growth and muted credit costs, net interest margin will face incremental downward pressure that will likely result in a decline in 2020 net interest income, Scouten tells investors. He forecasts a 6% year-over-year decline in EPS in 2020, Scouten noted.
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