Public Employees Retirement System of Ohio lessened its stake in IBERIABANK Corporation (NASDAQ:IBKC) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,081 shares of the bank’s stock after selling 4,452 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of IBERIABANK Corporation worth $2,533,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IBERIABANK Corporation by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after buying an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of IBERIABANK Corporation during the 2nd quarter valued at approximately $183,000. Nomura Holdings Inc. purchased a new position in shares of IBERIABANK Corporation during the 2nd quarter valued at approximately $205,000. Karp Capital Management Corp purchased a new position in shares of IBERIABANK Corporation during the 1st quarter valued at approximately $214,000. Finally, IFP Advisors Inc lifted its position in shares of IBERIABANK Corporation by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock valued at $229,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.
IBERIABANK Corporation (IBKC) opened at 73.75 on Wednesday. The company has a 50-day moving average price of $78.46 and a 200 day moving average price of $79.09. IBERIABANK Corporation has a 1-year low of $64.40 and a 1-year high of $91.10. The firm has a market capitalization of $3.95 billion, a P/E ratio of 17.97 and a beta of 1.32.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.13). The firm had revenue of $270.19 million for the quarter, compared to analysts’ expectations of $276.02 million. IBERIABANK Corporation had a return on equity of 6.79% and a net margin of 17.14%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Analysts expect that IBERIABANK Corporation will post $4.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.01%. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, September 28th. IBERIABANK Corporation’s payout ratio is presently 42.05%.
In other IBERIABANK Corporation news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the sale, the director now directly owns 27,963 shares in the company, valued at $2,186,147.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.12, for a total value of $492,016.92. Following the sale, the insider now owns 60,553 shares in the company, valued at $4,851,506.36. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on the company. ValuEngine lowered IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Jefferies Group LLC upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and increased their target price for the company from $89.00 to $94.00 in a research report on Monday, October 9th. Piper Jaffray Companies reiterated an “overweight” rating and set a $89.00 target price on shares of IBERIABANK Corporation in a research report on Thursday, October 5th. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, BidaskClub lowered IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $89.27.
IBERIABANK Corporation Company Profile
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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