Dupont Capital Management Corp purchased a new position in IBERIABANK Corp (NASDAQ:IBKC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,900 shares of the bank’s stock, valued at approximately $2,676,000. Dupont Capital Management Corp owned 0.06% of IBERIABANK at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of IBERIABANK by 13.4% in the 2nd quarter. BlackRock Inc. now owns 3,951,506 shares of the bank’s stock worth $299,525,000 after purchasing an additional 468,347 shares during the period. Millennium Management LLC raised its holdings in shares of IBERIABANK by 25.2% in the 2nd quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock worth $172,607,000 after purchasing an additional 458,810 shares during the period. FMR LLC raised its holdings in shares of IBERIABANK by 48.8% in the 2nd quarter. FMR LLC now owns 1,351,625 shares of the bank’s stock worth $102,453,000 after purchasing an additional 443,127 shares during the period. Victory Capital Management Inc. raised its holdings in shares of IBERIABANK by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,128,362 shares of the bank’s stock worth $85,530,000 after purchasing an additional 24,478 shares during the period. Finally, Deprince Race & Zollo Inc. raised its holdings in shares of IBERIABANK by 1.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 721,519 shares of the bank’s stock worth $54,691,000 after purchasing an additional 7,873 shares during the period. 85.80% of the stock is currently owned by institutional investors.
Shares of IBKC stock opened at $74.19 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. IBERIABANK Corp has a 1 year low of $69.69 and a 1 year high of $87.55. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.36.
IBERIABANK (NASDAQ:IBKC) last issued its earnings results 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. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The business had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side analysts expect that IBERIABANK Corp will post 6.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be issued 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 2.21%. IBERIABANK’s payout ratio is presently 34.90%.
A number of equities research analysts recently commented on the stock. BidaskClub cut shares of IBERIABANK from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Tuesday, September 25th. ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Finally, Stephens set a $91.00 price target on shares of IBERIABANK and gave the stock a “hold” rating in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $87.33.
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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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