United Capital Financial Advisers LLC purchased a new stake in shares of IBERIABANK Corp (NASDAQ:IBKC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,194 shares of the bank’s stock, valued at approximately $1,077,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBKC. AJO LP increased its holdings in shares of IBERIABANK by 279.6% in the first quarter. AJO LP now owns 804,531 shares of the bank’s stock worth $57,693,000 after buying an additional 592,567 shares during the period. Northern Trust Corp grew its stake in shares of IBERIABANK by 41.4% in the second quarter. Northern Trust Corp now owns 1,045,174 shares of the bank’s stock worth $79,277,000 after purchasing an additional 306,209 shares during the last quarter. BlackRock Inc. grew its stake in shares of IBERIABANK by 6.0% in the first quarter. BlackRock Inc. now owns 4,385,774 shares of the bank’s stock worth $314,504,000 after purchasing an additional 249,331 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of IBERIABANK by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 1,677,757 shares of the bank’s stock worth $125,328,000 after purchasing an additional 124,680 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of IBERIABANK by 84.9% in the second quarter. Acadian Asset Management LLC now owns 225,611 shares of the bank’s stock worth $17,113,000 after purchasing an additional 103,608 shares during the last quarter. Institutional investors and hedge funds own 84.87% of the company’s stock.
Shares of NASDAQ IBKC traded down $0.59 during trading hours on Friday, hitting $76.23. The company’s stock had a trading volume of 373,274 shares, compared to its average volume of 286,058. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.35 and a beta of 1.55. IBERIABANK Corp has a 12 month low of $60.82 and a 12 month high of $85.35. The business has a 50-day simple moving average of $71.48 and a 200-day simple moving average of $74.68.
IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, July 19th. The bank reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.05. The business had revenue of $315.18 million for the quarter, compared to analysts’ expectations of $313.34 million. IBERIABANK had a return on equity of 10.33% and a net margin of 29.38%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.71 EPS. On average, equities research analysts forecast that IBERIABANK Corp will post 7.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.36%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, September 27th. IBERIABANK’s payout ratio is presently 25.71%.
Several analysts recently issued reports on the company. BidaskClub raised IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised IBERIABANK from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Stephens set a $89.00 target price on IBERIABANK and gave the stock a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research raised IBERIABANK from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, SunTrust Banks cut their target price on IBERIABANK to $86.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $86.00.
In other IBERIABANK news, CEO Daryl G. Byrd sold 13,750 shares of IBERIABANK stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $77.70, for a total transaction of $1,068,375.00. Following the sale, the chief executive officer now directly owns 274,031 shares of the company’s stock, valued at approximately $21,292,208.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daryl G. Byrd sold 6,000 shares of IBERIABANK stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 254,281 shares in the company, valued at $17,911,553.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,050 shares of company stock worth $2,584,943. Insiders own 2.65% of the company’s stock.
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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