IBERIABANK Corp (NASDAQ:IBKC) Short Interest Update

IBERIABANK Corp (NASDAQ:IBKC) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 758,200 shares, a decline of 31.1% from the August 30th total of 1,100,000 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 290,800 shares, the days-to-cover ratio is currently 2.6 days.

Several research firms recently issued reports on IBKC. SunTrust Banks dropped their target price on shares of IBERIABANK to $86.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Zacks Investment Research lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Saturday, September 28th. BidaskClub upgraded shares of IBERIABANK from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 17th. ValuEngine lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Friday. Finally, Stephens set a $89.00 target price on shares of IBERIABANK and gave the company a “buy” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.00.

In related news, CEO Daryl G. Byrd sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.44, for a total value of $422,640.00. Following the transaction, the chief executive officer now owns 254,281 shares in the company, valued at $17,911,553.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Elizabeth A. Ardoin sold 4,300 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $77.96, for a total transaction of $335,228.00. Following the completion of the transaction, the executive vice president now owns 39,435 shares in the company, valued at approximately $3,074,352.60. The disclosure for this sale can be found here. In the last three months, insiders sold 34,050 shares of company stock worth $2,584,943. 2.65% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in shares of IBERIABANK during the second quarter valued at about $372,000. D. E. Shaw & Co. Inc. raised its holdings in shares of IBERIABANK by 41.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 183,441 shares of the bank’s stock valued at $13,914,000 after purchasing an additional 53,863 shares during the period. Invesco Ltd. raised its holdings in shares of IBERIABANK by 123.1% during the second quarter. Invesco Ltd. now owns 771,501 shares of the bank’s stock valued at $58,518,000 after purchasing an additional 425,644 shares during the period. IFG Advisory LLC acquired a new position in shares of IBERIABANK during the second quarter valued at about $859,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of IBERIABANK by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 501,733 shares of the bank’s stock valued at $38,057,000 after purchasing an additional 3,625 shares during the period. Hedge funds and other institutional investors own 84.87% of the company’s stock.

IBKC stock traded up $1.18 during midday trading on Friday, hitting $74.51. The stock had a trading volume of 282,389 shares, compared to its average volume of 306,059. The firm has a market cap of $3.92 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.27 and a beta of 1.56. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. IBERIABANK has a 1-year low of $60.82 and a 1-year high of $81.86. The business has a fifty day moving average price of $72.82 and a two-hundred day moving average price of $74.63.

IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings data on Friday, July 19th. The bank reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.05. IBERIABANK had a net margin of 29.38% and a return on equity of 10.33%. The firm had revenue of $315.18 million for the quarter, compared to analyst estimates of $313.34 million. During the same quarter in the prior year, the business earned $1.71 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that IBERIABANK will post 7.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.43. IBERIABANK’s dividend payout ratio is currently 26.91%.

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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