IBERIABANK Corp (NASDAQ:IBKC) EVP Haddon Spurgeon Mackie, Jr. sold 1,490 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $79.93, for a total value of $119,095.70. Following the sale, the executive vice president now owns 13,912 shares of the company’s stock, valued at approximately $1,111,986.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
IBERIABANK Corp (NASDAQ:IBKC) traded down 1.18% during trading on Monday, reaching $79.85. The company’s stock had a trading volume of 300,297 shares. The stock has a market cap of $3.58 billion, a P/E ratio of 18.56 and a beta of 1.22. IBERIABANK Corp has a 52-week low of $47.87 and a 52-week high of $91.10. The firm’s 50-day moving average is $83.03 and its 200-day moving average is $77.45.
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Several analysts recently weighed in on the company. FIG Partners downgraded IBERIABANK Corp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 6th. Zacks Investment Research downgraded IBERIABANK Corp from a “buy” rating to a “hold” rating in a research note on Saturday, March 4th. Piper Jaffray Companies downgraded IBERIABANK Corp from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $92.00 to $89.00 in a research note on Wednesday, March 1st. Sandler O’Neill upgraded IBERIABANK Corp from a “hold” rating to a “buy” rating in a research note on Friday, December 2nd. Finally, JMP Securities assumed coverage on IBERIABANK Corp in a research note on Thursday, February 2nd. They set a “mkt perform” rating for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. IBERIABANK Corp presently has an average rating of “Buy” and a consensus target price of $76.11.
Several hedge funds have recently added to or reduced their stakes in IBKC. BNP Paribas Arbitrage SA increased its stake in IBERIABANK Corp by 77.9% in the third quarter. BNP Paribas Arbitrage SA now owns 3,662 shares of the company’s stock valued at $246,000 after buying an additional 1,603 shares in the last quarter. Smith Graham & Co. Investment Advisors LP increased its stake in IBERIABANK Corp by 3.0% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 86,258 shares of the company’s stock worth $5,790,000 after buying an additional 2,500 shares in the last quarter. Ronald Blue & Co. LLC increased its stake in IBERIABANK Corp by 0.3% in the third quarter. Ronald Blue & Co. LLC now owns 12,356 shares of the company’s stock worth $829,000 after buying an additional 32 shares in the last quarter. GW&K Investment Management LLC increased its stake in IBERIABANK Corp by 6.3% in the third quarter. GW&K Investment Management LLC now owns 603,914 shares of the company’s stock worth $40,535,000 after buying an additional 35,691 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in IBERIABANK Corp by 13.9% in the third quarter. Bank of Montreal Can now owns 28,396 shares of the company’s stock worth $1,906,000 after buying an additional 3,476 shares in the last quarter. 75.99% of the stock is currently owned by hedge funds and other institutional investors.
About IBERIABANK Corp
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE LLC., which invests in purchased tax credits.
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