HGK Asset Management Inc. grew its position in shares of IBERIABANK Corp (NASDAQ:IBKC) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,992 shares of the bank’s stock after buying an additional 1,138 shares during the quarter. HGK Asset Management Inc.’s holdings in IBERIABANK were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of IBERIABANK by 1.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,789,157 shares of the bank’s stock worth $139,555,000 after buying an additional 29,296 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of IBERIABANK by 0.9% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,797,055 shares of the bank’s stock worth $218,170,000 after buying an additional 25,531 shares in the last quarter. Amalgamated Bank lifted its position in shares of IBERIABANK by 14.7% during the 2nd quarter. Amalgamated Bank now owns 7,655 shares of the bank’s stock worth $580,000 after buying an additional 983 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of IBERIABANK during the 1st quarter worth approximately $694,000. Finally, Xact Kapitalforvaltning AB lifted its position in shares of IBERIABANK by 47.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,423 shares of the bank’s stock worth $579,000 after buying an additional 2,400 shares in the last quarter. 87.44% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:IBKC opened at $86.00 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.82 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.65 and a beta of 1.46. IBERIABANK Corp has a 12 month low of $68.55 and a 12 month high of $87.55.
IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings results on Friday, July 20th. The bank reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.12. The company had revenue of $311.50 million for the quarter, compared to analysts’ expectations of $304.08 million. IBERIABANK had a net margin of 13.77% and a return on equity of 8.29%. IBERIABANK’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. sell-side analysts expect that IBERIABANK Corp will post 6.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, September 28th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from IBERIABANK’s previous quarterly dividend of $0.38. IBERIABANK’s payout ratio is 34.00%.
In related news, Director Ernest P. Breaux, Jr. sold 1,200 shares of IBERIABANK stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $82.05, for a total value of $98,460.00. Following the sale, the director now owns 27,647 shares of the company’s stock, valued at approximately $2,268,436.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.53% of the company’s stock.
A number of research firms recently commented on IBKC. BidaskClub raised shares of IBERIABANK from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. ValuEngine cut shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Finally, Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Wednesday, July 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.83.
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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