Quantitative Systematic Strategies LLC acquired a new position in shares of IBERIABANK Corporation (NASDAQ:IBKC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,897 shares of the bank’s stock, valued at approximately $813,000.
Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in IBERIABANK Corporation by 12.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after buying an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in IBERIABANK Corporation in the 2nd quarter valued at $183,000. Nomura Holdings Inc. acquired a new stake in IBERIABANK Corporation in the 2nd quarter valued at $205,000. Karp Capital Management Corp acquired a new stake in IBERIABANK Corporation in the 1st quarter valued at $214,000. Finally, IFP Advisors Inc boosted its stake in IBERIABANK Corporation by 0.7% in the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock valued at $229,000 after buying an additional 20 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.
IBERIABANK Corporation (NASDAQ:IBKC) opened at 75.45 on Monday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 18.38 and a beta of 1.32. IBERIABANK Corporation has a 1-year low of $62.65 and a 1-year high of $91.10. The firm has a 50-day moving average price of $78.52 and a 200-day moving average price of $79.23.
IBERIABANK Corporation (NASDAQ:IBKC) last issued its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.13). The business had revenue of $270.19 million during the quarter, compared to analyst estimates of $276.02 million. IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.79%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. On average, analysts expect that IBERIABANK Corporation will post $4.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, September 28th. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 42.05%.
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Several analysts recently commented on IBKC shares. BidaskClub lowered IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Piper Jaffray Companies raised IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price target on the stock in a research note on Tuesday, August 15th. ValuEngine raised IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Stephens set a $95.00 price target on IBERIABANK Corporation and gave the company a “buy” rating in a research note on Saturday, July 22nd. Finally, Zacks Investment Research lowered IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $88.64.
In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.12, for a total value of $492,016.92. Following the sale, the insider now owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total value of $390,900.00. Following the completion of the sale, the director now directly owns 27,963 shares in the company, valued at approximately $2,186,147.34. The disclosure for this sale can be found here. Company insiders own 3.17% of the company’s stock.
About IBERIABANK Corporation
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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