IBKC has been the subject of several other reports. Hovde Group upgraded shares of IBERIABANK Corporation from a market perform rating to an outperform rating and set a $87.00 price objective for the company in a research note on Monday, June 5th. Zacks Investment Research cut shares of IBERIABANK Corporation from a buy rating to a hold rating in a report on Wednesday, May 24th. Barclays PLC raised shares of IBERIABANK Corporation to an outperform rating and set a $97.00 target price for the company in a report on Monday, May 1st. BidaskClub raised shares of IBERIABANK Corporation from a sell rating to a hold rating in a report on Thursday, June 29th. Finally, Robert W. Baird raised shares of IBERIABANK Corporation from a neutral rating to an outperform rating and raised their target price for the stock from $88.00 to $97.00 in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $86.92.
IBERIABANK Corporation (NASDAQ:IBKC) opened at 75.90 on Monday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 18.49 and a beta of 1.28. The firm has a 50-day moving average price of $80.39 and a 200 day moving average price of $80.34. IBERIABANK Corporation has a one year low of $62.65 and a one year high of $91.10.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 30th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.90%. IBERIABANK Corporation’s payout ratio is presently 35.04%.
In related news, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the transaction, the insider now directly owns 60,553 shares in the company, valued at $4,851,506.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $78.82, for a total transaction of $1,970,500.00. Following the completion of the transaction, the insider now owns 93,878 shares in the company, valued at $7,399,463.96. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock valued at $150,000 after buying an additional 520 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of IBERIABANK Corporation during the second quarter valued at approximately $183,000. Nomura Holdings Inc. bought a new position in shares of IBERIABANK Corporation during the second quarter valued at approximately $205,000. Karp Capital Management Corp bought a new position in shares of IBERIABANK Corporation during the first quarter valued at approximately $214,000. Finally, Stephens Inc. AR bought a new position in shares of IBERIABANK Corporation during the first quarter valued at approximately $214,000. Institutional investors own 86.06% of the company’s stock.
About IBERIABANK Corporation
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory 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 (CDE), which invests in purchased tax credits.
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