Sterne Agee Raises IBKC Estimates

IBERIABANK Corporation IBKC remains Neutral-rated “as the current valuation of 1.5x TBVPS and 17x our 2012E EPS takes into account a fairly optimistic outlook,” Sterne Agee reports. “However, our outlook is more favorable, given improved margin discipline and the likelihood that IBKC's two pending M&A deals will be integrated in 3Q11 rather than 1Q12,” Sterne Agee writes. “As a result, we are raising our 2011E EPS to $2.50 (+$0.10) and our 2012E EPS to $3.40 (+$0.15).” IBERIABANK Corporation closed Monday at $59.21.