Swiss National Bank lifted its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,823 shares of the bank’s stock after buying an additional 5,400 shares during the period. Swiss National Bank owned about 0.18% of IBERIABANK worth $8,039,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of IBERIABANK by 13.4% in the second quarter. BlackRock Inc. now owns 3,951,506 shares of the bank’s stock worth $299,525,000 after buying an additional 468,347 shares during the period. Millennium Management LLC boosted its position in shares of IBERIABANK by 25.2% in the second quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock worth $172,607,000 after buying an additional 458,810 shares during the period. FMR LLC boosted its position in shares of IBERIABANK by 48.8% in the second quarter. FMR LLC now owns 1,351,625 shares of the bank’s stock worth $102,453,000 after buying an additional 443,127 shares during the period. Victory Capital Management Inc. boosted its position in shares of IBERIABANK by 2.2% in the second quarter. Victory Capital Management Inc. now owns 1,128,362 shares of the bank’s stock worth $85,530,000 after buying an additional 24,478 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of IBERIABANK by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 561,486 shares of the bank’s stock worth $42,561,000 after buying an additional 23,117 shares during the period. 85.87% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. BidaskClub raised IBERIABANK from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research cut IBERIABANK from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut IBERIABANK from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Stephens set a $85.00 target price on IBERIABANK and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Finally, Hovde Group raised IBERIABANK from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $82.00 to $86.00 in a research report on Friday, November 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $86.25.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings data on Friday, October 19th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.06. The firm had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $311.77 million. IBERIABANK had a return on equity of 9.38% and a net margin of 18.32%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, analysts predict that IBERIABANK Corp will post 6.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Monday, December 31st will be given a dividend of $0.41 per share. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.64 dividend on an annualized basis and a yield of 2.19%. IBERIABANK’s dividend payout ratio (DPR) is presently 34.90%.
IBERIABANK Company Profile
IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.
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