Russell Investments Group Ltd. Grows Stake in IBERIABANK Corp (IBKC)

Russell Investments Group Ltd. lifted its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 53.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,742 shares of the bank’s stock after acquiring an additional 101,574 shares during the quarter. Russell Investments Group Ltd.’s holdings in IBERIABANK were worth $22,197,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBKC. Wells Fargo & Company MN boosted its stake in shares of IBERIABANK by 144.8% during the 1st quarter. Wells Fargo & Company MN now owns 711,409 shares of the bank’s stock worth $55,490,000 after acquiring an additional 420,831 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of IBERIABANK by 82.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 299,994 shares of the bank’s stock worth $22,740,000 after acquiring an additional 135,489 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of IBERIABANK during the 2nd quarter worth $7,443,000. Bessemer Group Inc. bought a new stake in shares of IBERIABANK during the 2nd quarter worth $7,421,000. Finally, Mackay Shields LLC bought a new stake in shares of IBERIABANK during the 1st quarter worth $4,259,000. 87.64% of the stock is owned by institutional investors and hedge funds.

In related news, Director Ernest P. Breaux, Jr. sold 1,200 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $82.05, for a total transaction of $98,460.00. Following the completion of the sale, the director now directly owns 27,647 shares in the company, valued at $2,268,436.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.53% of the stock is currently owned by company insiders.

IBKC opened at $86.00 on Monday. The firm has a market capitalization of $4.82 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46. IBERIABANK Corp has a 12-month low of $68.55 and a 12-month high of $87.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38.

IBERIABANK (NASDAQ:IBKC) last released its earnings results on Friday, July 20th. The bank reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.12. The company had revenue of $311.50 million during the quarter, compared to analyst estimates of $304.08 million. IBERIABANK had a return on equity of 8.29% and a net margin of 13.77%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. sell-side analysts anticipate that IBERIABANK Corp will post 6.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be issued a $0.39 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.38. IBERIABANK’s dividend payout ratio is presently 34.00%.

Several equities research analysts have recently weighed in on IBKC shares. BidaskClub lowered IBERIABANK from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday, July 25th. Finally, ValuEngine lowered IBERIABANK from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. IBERIABANK presently has an average rating of “Buy” and a consensus price target of $86.83.

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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Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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