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Iberiabank tops Street 1Q forecasts

LAFAYETTE, La. (AP) _ Iberiabank Corp. (IBKC) on Thursday reported first-quarter profit of $50.5 million.

The bank, based in Lafayette, Louisiana, said it had earnings of $1 per share. Earnings, adjusted for non-recurring costs, came to $1.02 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The financial holding company posted revenue of $239.9 million in the period. Its adjusted revenue was $220.2 million, also beating Street forecasts. Six analysts surveyed by Zacks expected $218.6 million.

Iberiabank shares have decreased slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $79.35, an increase of 39 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBKC at https://www.zacks.com/ap/IBKC

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Keywords: Iberiabank, Earnings Report