NEW YORK (TheStreet) -- Iberiabank (Nasdaq:IBKC) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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- IBKC's revenue growth has slightly outpaced the industry average of 3.4%. Since the same quarter one year prior, revenues slightly increased by 2.9%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- Net operating cash flow has significantly increased by 99.71% to $108.33 million when compared to the same quarter last year. In addition, IBERIABANK CORP has also vastly surpassed the industry average cash flow growth rate of 27.00%.
- The gross profit margin for IBERIABANK CORP is currently very high, coming in at 93.26%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, IBKC's net profit margin of 0.47% significantly trails the industry average.
- IBERIABANK CORP has exprienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, IBERIABANK CORP increased its bottom line by earning $2.61 versus $1.85 in the prior year. This year, the market expects an improvement in earnings ($3.26 versus $2.61).
- Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
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