New York State Teachers Retirement System purchased a new position in IBERIABANK Corporation (NASDAQ:IBKC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,400 shares of the bank’s stock, valued at approximately $361,000.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in IBERIABANK Corporation by 12.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after purchasing an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in IBERIABANK Corporation in the second quarter worth about $183,000. Nomura Holdings Inc. acquired a new position in IBERIABANK Corporation in the second quarter worth about $205,000. IFP Advisors Inc raised its position in IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after purchasing an additional 20 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in IBERIABANK Corporation by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after purchasing an additional 20 shares in the last quarter. 80.60% of the stock is owned by hedge funds and other institutional investors.
IBERIABANK Corporation (IBKC) opened at $71.80 on Wednesday. IBERIABANK Corporation has a 52 week low of $68.55 and a 52 week high of $91.10. The stock has a market cap of $3,857.10, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 2.06%. IBERIABANK Corporation’s dividend payout ratio (DPR) is presently 42.05%.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Tuesday, August 1st. Robert W. Baird lowered shares of IBERIABANK Corporation from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $97.00 to $78.00 in a report on Monday, October 23rd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $89.00 price objective on shares of IBERIABANK Corporation in a report on Thursday, October 5th. Stephens set a $95.00 price objective on shares of IBERIABANK Corporation and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, JMP Securities raised their price objective on shares of IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. IBERIABANK Corporation currently has an average rating of “Buy” and a consensus price target of $89.27.
In other IBERIABANK Corporation news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.52% of the stock is currently owned by company insiders.
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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