IBERIABANK Corporation (NASDAQ:IBKC) spotted trading -56.06% off 52-week high price. On the other end, the stock has been noted 40.21% away from the low price over the last 52-weeks. The stock changed 11.43% to recent value of $35.97. The stock transacted 763067 shares during most recent day however it has an average volume of 637.41K shares. The company has 51.82M of outstanding shares and 51.51M shares were floated in the market.
On April 17, 2020, IBERIABANK Corporation (NASDAQ:IBKC) declared financial results for the first quarter ended March 31, 2020. For the quarter, the Company reported net income available to common shareholders of $32.8 million, or $0.62 diluted earnings per common share (EPS). On a non-GAAP basis, EPS excluding non-core revenues and non-core expenses (Core EPS) in the first quarter of March 31, 2020 was $0.67 per common share, compared to $1.72 in the same quarter of 2019 (refer to press release supplemental tables for a reconciliation of GAAP to non-GAAP metrics).
Daryl G. Byrd, President and Chief Executive Officer, commented, As we navigate the uncertain and unprecedented COVID-19 environment, the Company is highly focused on servicing the financial needs of our clients, ensuring the health and well-being of our associates, and supporting the communities in which we live and serve. Our teams have been working around the clock to assist clients with payment forbearance and other relief programs, including the SBA Paycheck Protection Program. At the same time, retail operations and branch facilities remain open and committed to serving our clients in a safe and responsible manner. This is truly a Herculean effort and our teams have made a tremendous amount of progress for our clients in a very short time period. I am very proud of the commitment of all our IBERIABANK associates.
During the first quarter, our fundamental business model performed very well in the face of uncertain economic times. The Company was able to expand our client base, produce significant growth in our loan portfolio, increase core and non-interest bearing deposits, and grow tangible book value. The Company successfully delivered record non-interest income, held non-interest expense in check, and maintained already strong credit quality metrics. First quarter results included the adoption of CECL early in the quarter, and as a result we recorded an approximately $82 million increase in our allowance for expected credit losses and related book value write-down. As we evaluated the economic uncertainties of the current pandemic, at the end of March we recorded an additional $69 million pre-tax increase in provision and other credit-related reserves that significantly impacted our financial results.
The price moved ahead of 1.09% from the mean of 20 days, -29.36% from mean of 50 days SMA and performed -47.31% from mean of 200 days price. Company’s performance for the week was -15.78%, 33.03% for month and YTD performance remained -51.93%.