Dimensional Fund Advisors LP cut its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,698,162 shares of the bank’s stock after selling 138,280 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.01% of IBERIABANK worth $221,654,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in IBERIABANK by 20.2% in the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock worth $208,292,000 after purchasing an additional 428,968 shares in the last quarter. Teachers Advisors LLC raised its holdings in IBERIABANK by 323.3% in the second quarter. Teachers Advisors LLC now owns 363,805 shares of the bank’s stock worth $29,650,000 after purchasing an additional 277,851 shares in the last quarter. Victory Capital Management Inc. raised its holdings in IBERIABANK by 36.7% in the third quarter. Victory Capital Management Inc. now owns 856,845 shares of the bank’s stock worth $70,390,000 after purchasing an additional 229,900 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in IBERIABANK in the second quarter worth $16,352,000. Finally, Monarch Partners Asset Management LLC bought a new position in shares of IBERIABANK during the third quarter valued at $14,888,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.
Shares of IBERIABANK Corp (NASDAQ IBKC) traded down $0.25 during midday trading on Tuesday, hitting $77.25. The company had a trading volume of 385,779 shares, compared to its average volume of 345,750. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4,160.00, a PE ratio of 22.59, a P/E/G ratio of 2.28 and a beta of 1.37. IBERIABANK Corp has a 1 year low of $68.55 and a 1 year high of $86.40.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. The company had revenue of $270.19 million for the quarter, compared to analysts’ expectations of $276.02 million. During the same quarter last year, the company earned $1.08 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. analysts predict that IBERIABANK Corp will post 4.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, December 28th. IBERIABANK’s dividend payout ratio is currently 43.27%.
IBKC has been the subject of several analyst reports. ValuEngine upgraded IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research raised IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Thursday, September 28th. Piper Jaffray Companies reissued an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK in a research report on Thursday, October 5th. Jefferies Group raised IBERIABANK from a “hold” rating to a “buy” rating and lifted their target price for the company from $89.00 to $94.00 in a research note on Monday, October 9th. Finally, Stephens downgraded IBERIABANK from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.27.
In other news, insider John R. Davis sold 3,263 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the transaction, the insider now directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Fenstermaker acquired 2,500 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the completion of the acquisition, the director now directly owns 43,242 shares of the company’s stock, valued at approximately $3,105,208.02. The disclosure for this purchase can be found here. Corporate insiders own 2.52% of the company’s stock.
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IBERIABANK Company Profile
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.
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